The North American Free Trade Agreement: Implications for the parties and world oil markets

Journal Article · Thu Dec 30 23:00:00 EST 1993 · Energy Journal

DOI:https://doi.org/10.5547/ISSN0195-6574-EJ-Vol14-No3-4· OSTI ID:28994

Verleger, Jr, P K ^[1]

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1. Institute for International Economics, Washington, DC (United States)

The proposed North American Free Trade Agreement (NAFTA) has been criticized because it failed to open Mexico`s hydrocarbon reserves to development by private parties. This failure is an economic tragedy. Consumer welfare will clearly be reduced as a consequence. However, the loss is confined to Mexico where economic growth rates may be reduced by as much as one half of one percent per year. Otherwise, the agreement will have insignificant impacts on the world oil market. Future levels of production and prices will be unaffected by the agreement. 24 refs., 6 tabs.

• Sponsoring Organization: USDOE
• OSTI ID: 28994
• Journal Information: Energy Journal, Journal Name: Energy Journal Journal Issue: 3 Vol. 14; ISSN ENJODN; ISSN 0195-6574
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
ECONOMIC DEVELOPMENT
MEXICO
PETROLEUM
RESERVES
RESOURCE DEVELOPMENT