American Petroleum Institute (API) president and chief executive officer (CEO) Jack Gerard welcomed a letter sent by eight US Senators to US Trade Representative, Robert Lighthizer, emphasizing 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 recognize 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 U.S. energy security, supports millions of American jobs in the oil and natural gas industry, and helps make energy more affordable.”