American Petroleum Institute (API) officials praised a letter by eight U.S. senators to U.S. Trade Representative Robert Lighthizer for its emphasis on North American energy markets’ importance to U.S. security and consumers.
The letter was drafted with support from Sens. John Cornyn (R-TX) and Heidi Heitkamp (D-ND) ahead of efforts to renegotiate the North American Free Trade Agreement (NAFTA).
“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 U.S. economy and consumers,” API President and CEO Jack Gerard said in a release. “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.”
The API release said NAFTA has played a key role not only in the continent’s overall energy development but also in the status of U.S. energy security itself through job creation and lower energy costs.
“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,” Gerard said in the release.
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