North American oil, natural gas groups outline NAFTA policy positions
The American Petroleum Institute (API), Canadian Association of Petroleum Producers (CAPP) and the Mexican Association of Hydrocarbon Companies (AMEXHI) published a joint paper Wednesday, outlining their shared policy positions on various areas North American Free Trade Agreement (NAFTA).
The paper endorses tariff reduction and elimination energy product trade, market access, a modernized system for certificates of origin, regulatory cooperation and non-restricted trade across North America.
It also expresses support for maintaining provisions for investment protections and Investor-State Dispute Settlement (ISDS). This includes rules that restrict expropriation of investments and that provide for compensation when expropriation occurs.
“The natural gas and oil industry across North America is united in our support for NAFTA and the significant consumer, economic and security benefits it generates,” API President and CEO Jack Gerard said. “As the energy flows between our countries continue to grow, it’s important to highlight the critical role NAFTA has played in facilitating cross-border trade and investment in energy. The positions we put forward today reinforce our commitment to the energy trade alliance under NAFTA, which supports jobs and manufacturing in energy, helps to make energy more affordable, and enhances our energy security.”
API, CAPP and AMEXHI represent more than 750 international oil and gas companies in the United States, Canada, and Mexico.
