API Submits Comments on NAFTA Negotiating Objectives
On behalf of its members, the American Petroleum Institute (API) would like to submit comments with regard to the modernization and renegotiation of the North American Free Trade Agreement (NAFTA). In addition to this executive summary, API is submitting supporting documentation, detailing the benefits of NAFTA that our industry currently relies upon and would like preserved. The first and second documents cover integrated and interdependent North American energy markets, and the third shows ways in which NAFTA facilitates several energy benefits. API member companies recommend that among the negotiating objectives for a modernized NAFTA, the enhancement of the integration and interdependence of energy markets and enhancement of the energy benefits from these integrated markets remain priorities.
For API and its industry members, there is a strong desire to see the provisions of the current NAFTA remain in place. The overall functionality of the current NAFTA agreement works for the oil and natural gas industry. API and its industry members therefore wish to ensure that as NAFTA is modernized, the provisions of the current agreement remain in place in a new NAFTA. Such provisions include the ones that API raises in this letter.
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