Washington, January 9 (Xinhua) -- Jack Gerrard, chairman and CEO of the American Petroleum Association, said on the 9th that the North American Free Trade Agreement is crucial to the development of the US energy industry, and if the United States, Canada, and Mexico cannot reach an agreement on updating the North American Free Trade Agreement, the three countries should maintain the existing agreement.
Washington, January 9 (Xinhua) -- Jack Gerrard, chairman and CEO of the American Petroleum Association, said on the 9th that the North American Free Trade Agreement is crucial to the development of the US energy industry, and if the United States, Canada, and Mexico cannot reach an agreement on updating the North American Free Trade Agreement, the three countries should maintain the existing agreement.
In a speech looking ahead to the U.S. energy situation in 2018, Gerald said on the same day that the North American Free Trade Agreement integrates interdependent energy markets, benefiting trading partners. The agreement makes energy costs more affordable and provides opportunities for U.S. companies to operate in Canada and Mexico. He said he hoped the Trump administration would continue to preserve the benefits of NAFTA for the U.S. energy sector when negotiating.
Washington, January 9 (Xinhua) -- Jack Gerrard, chairman and CEO of the American Petroleum Association, said on the 9th that the North American Free Trade Agreement is crucial to the development of the US energy industry, and if the United States, Canada, and Mexico cannot reach an agreement on updating the North American Free Trade Agreement, the three countries should maintain the existing agreement.
In a speech looking ahead to the U.S. energy situation in 2018, Gerald said on the same day that the North American Free Trade Agreement integrates interdependent energy markets, benefiting trading partners. The agreement makes energy costs more affordable and provides opportunities for U.S. companies to operate in Canada and Mexico. He said he hoped the Trump administration would continue to preserve the benefits of NAFTA for the U.S. energy sector when negotiating.
In response to the Trump administration's proposed expansion of offshore oil and gas exploitation, Gerald believes that this is important for fully exploiting and utilizing the energy resources of the United States, but it does not mean that the United States will immediately approve all offshore oil and gas exploitation, "this is only the first step in a long process." Maintaining the stability of U.S. energy policy is important, he said, because offshore oil and gas extraction is a long-term investment that typically takes 7 to 15 years and invests tens of billions of dollars.
Washington, January 9 (Xinhua) -- Jack Gerrard, chairman and CEO of the American Petroleum Association, said on the 9th that the North American Free Trade Agreement is crucial to the development of the US energy industry, and if the United States, Canada, and Mexico cannot reach an agreement on updating the North American Free Trade Agreement, the three countries should maintain the existing agreement.
In a speech looking ahead to the U.S. energy situation in 2018, Gerald said on the same day that the North American Free Trade Agreement integrates interdependent energy markets, benefiting trading partners. The agreement makes energy costs more affordable and provides opportunities for U.S. companies to operate in Canada and Mexico. He said he hoped the Trump administration would continue to preserve the benefits of NAFTA for the U.S. energy sector when negotiating.
In response to the Trump administration's proposed expansion of offshore oil and gas exploitation, Gerald believes that this is important for fully exploiting and utilizing the energy resources of the United States, but it does not mean that the United States will immediately approve all offshore oil and gas exploitation, "this is only the first step in a long process." Maintaining the stability of U.S. energy policy is important, he said, because offshore oil and gas extraction is a long-term investment that typically takes 7 to 15 years and invests tens of billions of dollars.
Gerald also suggested that the Trump administration and the U.S. Congress include energy infrastructure when considering infrastructure investment options. The association estimates that the U.S. has about $1 trillion in demand for energy infrastructure, which has greater potential than investment in transportation infrastructure such as roads and bridges. (End)