#TruthInTrade Day 3: Turning Your Community into a Playground for Big Oil
WASHINGTON, D.C.—U.S. Rep. Mark Pocan (WI-02) today continued his #TruthInTrade campaign to highlight the unintended consequences of free trade agreements. Trade deals agreed to behind closed doors have allowed major oil companies to flout environmental laws and drain nations of natural resources without any reinvestment. Today’s trade deals, including the North American Free Trade Agreement (NAFTA), put corporate interests ahead of domestic policies and gives corporations more power than citizens. More information about #TruthinTrade is available here.
“ExxonMobil’s conduct in Canada is a clear example of the threats free trade agreements pose to America’s communities,” Representative Pocan said. “Congress must retain the ability to oversee and investigate all trade agreements. Without proper oversight, Americans could see our natural resources funneled away by multinational corporations with no return investments in our own communities.”
ExxonMobil and Murphy Oil used NAFTA to challenge a Canadian regulation which required oil companies to pay fees to support renewable energy research and development in Canada’s poorest provinces. Another questionable trade court ruled in favor of Mobil and Murphy Oil, deeming the requirement to use larger-than-expected oil revenues to fund research and development as a violation of a NAFTA-barred performance requirement.