Five (Worst) Best CEOs of 2007

FreeEnterpriser.com today published a list of it's worst 5 CEOs. The indictment of the CEOs comes not because of malfeasance or insider trading -- it's because the companies dared to consider the environment in their decision making.

"This year's list consists of the CEOs who are actively lobbying for federal regulation of greenhouse gases. Despite abundant evidence that the regulatory scheme designed to reduce carbon dioxide emissions is terrible for the economy, these CEOs continue to lobby for laws that will harm consumers and their own earnings," said Tom Borelli, editor of FreeEnterpriser.com.

While the Ayn Rand advocators vilify these CEOs, I celebrate them for the exact same reasons. Apparently FreeEnterprisers don't plan on breathing, eating, or live by a coastline in the future.

I'm not anti-capitalism, but sustainability is where the libertarian-ish logic falls apart. Companies often focus on the best short term decisions and do not consider the environmental consequences for the greater public, which in the long run will affect their future profits. Do whatever you want that doesn't affect me, but dumping toxins into the air does effect you, and you, and everyone.

Here is the list of the best (worst) CEOs of 2007, as well as their "crimes" according to FreeEnterpriser. Thank you for having the courage to go against corporate greed and make tough decisions.

BP's John Browne. Browne resigned this year partly because his global warming strategy failed miserably. Featuring the high-profile "Beyond Petroleum" advertising campaign that embraced global warming alarmism, Browne diverted BP's money and management time away from its core business. As a result, maintenance and safety issues took a back seat and the company was responsible for a series of accidents including a deadly refinery explosion and a major oil pipeline leak in Alaska.

GE's Jeff Immelt. "GE's Environment Push Hits Business Realities" -- a front-page Wall Street Journal story in 2007 -- highlighted the downsides of its "Ecomagination" marketing campaign. Because of the global warming fears pushed by GE, the company was forced to defend its incandescent light bulb against legislative proposals to ban the product. In addition, GE's coal business also suffered from cancellations of new coal-fired electricity plants.

Wal-Mart's Lee Scott. Scott's global warming strategy has the company appealing to the liberal elite while selling out shareholders and low-income customers. Higher energy prices -- a certain result of global warming regulations -- will add to the input costs of Wal-Mart's business while simultaneously reducing the disposable income of its consumers.

PepsiCo's Indra K. Nooyi. The company sponsored Al Gore's Live Earth concert to appear in sync with the "environmental generation." Bottled water, however, is the focus of activists and politicians seeking to reduce carbon dioxide emissions. Such action will likely harm PepsiCo's Aquafina, the leading brand of bottled water. In addition to banning the purchase of bottled water by some city governments, Chicago will become the first major U.S. city to add a 5-cent tax per bottle. That will increase the cost of a 24-bottle case by about 30 percent.

Caterpillar's James Owens. The construction and mining equipment company's global warming strategy is jeopardizing its future earnings by working against its customers in the coal industry. A Congressional Budget Office (CBO) study on the economic impact of so-called cap-and-trade regulations to reduce greenhouse gas emissions would reduce coal production -- a key customer for Caterpillar products -- up to 40 percent.