API President and CEO, Jack Gerard, welcomed a letter sent by eight US Senators to US Trade Representative Lighthizer emphasising the importance of North American energy markets to American consumers and US energy security in advance of the North American Free Trade Agreement (NAFTA) renegotiation.
“Today’s North American energy markets are highly integrated and interdependent, and we are pleased to see the Senate recognise the enormous benefits these markets provide for the US economy and consumers,” said Gerard. “By expanding the size of our energy markets, this energy integration creates economies of scale that attract private investment, lower capital costs, and reduce energy costs for consumers and businesses.
“NAFTA has played a critical role in facilitating North American energy integration, which enhances US energy security, supports millions of American jobs in the oil and natural gas industry, and helps make energy more affordable. We look forward to continuing our work with Congress and the administration on policies to keep North American energy integration strong, protecting energy consumers and investors and advancing our nation’s energy leadership throughout the world.”
The bipartisan letter was led by US Senators John Cornyn (R-Tex.) and Heidi Heitkamp (D-N.D.). Last week, the House sent a letter to USTR on energy priorities that was applauded by API.
Read the article online at: https://www.worldpipelines.com/business-news/12062017/api-senate-recognises-the-benefits-the-energy-markets-provide-for-us-economy/