“The coronavirus pandemic and record-low oil prices dealt a blow to the fossil fuel industry this year. But the new trade deal between the United States, Mexico, and Canada, known as the USMCA, will provide a boost as it replaces the North American Free Trade Agreement (NAFTA). The deal goes into effect July 1.
Reading between the lines of the 2,000-plus page deal, environmentalists say it is bad news for North America’s climate future. Far from addressing the crisis, the deal provides loopholes for oil, gas, and mining companies to operate across borders, and paves the way for U.S. companies to export even more fracked natural gas across the border into Mexico.”
I wrote for DeSmog about the climate impact of the USMCA, and how the gas and oil industry could benefit from the deal.