A vision for a continental energy strategy

In particu- lar, this project will help to define the appropriate roles for the public and private sectors in the development of energy resources, and the bounds of public policy in this regard. [...] These recommendations would be fully consistent with the expectation that the energy component of NAFTA will evolve through time as implied by the “Description” part of the Agreement which refers to the enhancement of the role of energy trade through “sustained and gradual liberalization” [Foreign Affairs and International Trade Canada, 2002]. [...] A limited role for government The final principle underlying our vision for a continental energy strategy is that the role of government in relation to the production and distribution of energy should be limited, given the current legislative frameworks.[4] Simply put, governments should focus on ensuring that the business environment is conducive to the development and operation of efficient ener [...] The door to increased natural gas exports was opened by the deregulation of natural gas export prices and volumes during the latter part of the 1980s, and there were no important obstacles to the export of Canadian crude oil and electric- ity prior to NAFTA. [...] Given the petroleum resources of the three countries and their increased value because of higher oil and gas prices, there is considerable incentive for Canada, the United States, and Mexico to streamline regulations in order to facilitate the efficient development, transportation, and use of the continent’s energy resources in accor- dance with market conditions.