NAFTA Works – For The U.S. And U.S. Energy « Breaking Energy - Energy industry news, analysis, and commentary

NAFTA Works – For The U.S. And U.S. Energy « Breaking Energy - Energy industry news, analysis, and commentary: In recent weeks we’ve encouraged U.S. negotiators in ongoing talks to modernize the North American Free Trade Agreement to ensure that energy-supporting provisions remain in NAFTA. For a simple reason: NAFTA works for U.S. energy. NAFTA’s zero tariffs on exchanged goods, market access and trade liberalization have helped foster economic growth, generate consumer benefits and increase U.S. energy security within a more  integrated and interdependent North American energy zone. U.S. energy trade with Canada and Mexico has flourished under NAFTA. Canada was the No. 1 export market for U.S. crude oil and kerosene-type jet fuel in 2016, while Mexico is now our No. 1 export market for pipeline natural gas, total refined products, finished motor gasoline and other products. NAFTA also works in this way: It protects the direct foreign investments of U.S. businesses, including energy companies. NAFTA’s Investor State Dispute Settlement provision (ISDS) is critical in protecting against unfair treatment or expropriation by host countries. Weakening or eliminating ISDS will take the United States in the wrong direction and risk damaging U.S. global energy leadership. A couple of specific cas