{"id":39341,"date":"2018-10-18T08:42:14","date_gmt":"2018-10-18T13:42:14","guid":{"rendered":"http:\/\/olduvai.ca\/?p=39341"},"modified":"2018-10-18T08:42:14","modified_gmt":"2018-10-18T13:42:14","slug":"big-oil-cheers-trumps-new-nafta-but-mexico-could-complicate-things","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=39341","title":{"rendered":"Big Oil Cheers Trump’s ‘New NAFTA’ But Mexico Could Complicate Things"},"content":{"rendered":"

Big Oil Cheers Trump’s ‘New NAFTA’ But Mexico Could Complicate Things<\/a><\/h3>\n

While the oil and gas industry has lauded the new trade deal that may soon replace\u00a0the North American Free Trade Agreement (NAFTA), a\u00a0provision added by Mexico, along with its new president’s plan to ban fracking, could complicate the industry’s rising ambitions\u00a0there.<\/p>\n

The new agreement, known as\u00a0the\u00a0United States\u2013Mexico\u2013Canada Agreement (USMCA)<\/a>, has faced criticism as being tantamount to NAFTA 2.0<\/a>\u00a0\u2014 more of a minor reboot\u00a0that primarily benefits Wall Street investors and large corporations, including oil and gas companies<\/a>.<\/p>\n

Mercilessly critiqued<\/a> by then-candidate\u00a0Donald Trump<\/a>\u00a0during the 2016\u00a0presidential campaign, NAFTA is now the second major trade deal kicked to the curb by now-President Trump. The other, the Trans-Pacific Partnership (TPP), was canceled days into<\/a>Trump\u2019s\u00a0presidency.<\/p>\n

After the most recent deal’s announcement, the oil and gas industry offered praise for USMCA. The White House even pointed this out in a press release, highlighting a quote given by the U.S. industry’s major trade group, the\u00a0American Petroleum Institute (API)<\/a>.<\/p>\n

\u201cWe urge Congress to approve the USMCA. Having Canada as a trading partner and a party to this agreement is critical for North American energy security and U.S. consumers,\u201d said Mike Sommers<\/a>, President and CEO of API. \u201cRetaining a trade agreement for North America will help ensure the U.S. energy revolution continues into the\u00a0future.\u201d<\/p>\n

In its own press release<\/a> declaring its support for USMCA, API further spelled out\u00a0the\u00a0parts of the deal it\u00a0supports.<\/p>\n

Those include\u00a0\u201ccontinued market access for U.S. natural gas and oil products, and investments in Canada and Mexico; continued zero tariffs on natural gas and oil products; investment protections to which all countries commit and the eligibility for Investor-State Dispute Settlement (ISDS) for U.S. natural gas and oil companies investing in Mexico…<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Big Oil Cheers Trump’s ‘New NAFTA’ But Mexico Could Complicate Things While the oil and gas industry has lauded the new trade deal that may soon replace\u00a0the North American Free Trade Agreement (NAFTA), a\u00a0provision added by Mexico, along with its new president’s plan to ban fracking, could complicate the industry’s rising ambitions\u00a0there. The new agreement, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[2688,103,5317,7844,331,337,517,3004,1164,1729,11481,805,827,22146,860],"class_list":["post-39341","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-big-oil","tag-canada","tag-desmog-blog","tag-donald-trump","tag-fracking","tag-free-trade","tag-mexico","tag-nafta","tag-north-america","tag-oil-and-gas-industry","tag-steve-horn","tag-trade","tag-united-states","tag-usmca","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39341"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39341\/revisions"}],"predecessor-version":[{"id":39342,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39341\/revisions\/39342"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}