Positive Environment News

Conoco chairman advocates N. American energy pact

Date: 13-Feb-03
Country: USA

Mexico would benefit most by opening its market to American investment, Dunham said.

Unlike Canada, Mexico reserved its sovereignty over energy resources under NAFTA.

"The result is that U.S.-Mexico energy trade has not prospered to the same degree as that between the U.S. and Canada," he said.

U.S. and Canadian companies would able to invest directly in Mexican natural resources, Dunham said. And any return could be reinvested in the company, as opposed to passing it on to the Mexican government, which is currently required by Mexican law.

Environmental policies, such as emissions trading, could be adopted on a continental basis, he said.

© Thomson Reuters 2003 All rights reserved

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