Climate-change legislation needs global context, Caterpillar CEO says

11/25/2009 | CNBC

Efforts to curtail climate change must occur on a global level, Caterpillar chief executive Jim Owens said. He also noted that imposing a significant cost on carbon could hurt the steel, aluminum and chemical industries. "If we price those basic industries out of the market, which are the feedstock for other manufacturers like ourselves, then we impede our ability to compete in the world market effectively," Owens said.

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