The United States of America today agreed to collaborate to enhance energy security in North America and support shared duty to exercise responsible stewardship of the Gulf of Mexico.
Through the signing of the U.S.-Mexico Transboundary Agreement, both countries to create new opportunities especially American companies will be able to collaborate with PEMEX, their Mexican counterpart.
U.S. Secretary of State Hillary Clinton and Interior Secretary Ken Salazar attended the signing of the pact in Los Cabos, Mexico, with Patricia Espinosa, the Mexican foreign relations minister.
Secretary Clinton states that at a time when both countries are working hard to both secure energy supplies and shift to more environmentally appropriate means of extracting fossil fuels, but also adding immeasurably to our search for renewable energy, the agreement is a win-win.
She stresses that the reservoirs could hold considerable reserves that would benefit the United States and Mexico alike.
“In tough times like these, we need to make the most of every opportunity to create jobs, to foster economic growth and energy security, while managing our resources and our environment responsibly for future generations.” -Ms. Clinton
She notes that the agreement will help prevent disputes and helps promote the safe, efficient, and equitable exploration and production of cross-boundary reservoirs.
She cites that each country maintains its own right to develop its own resources.
“Our actions today are further proof of how Mexico and the United States come together to solve shared challenges. From our earliest days, the Gulf of Mexico has been a source of unity for our peoples and our countries. And the steps we are taking today will help make sure it remains that way for decades to come.” -Ms. Clinton
Mexico is consistently one of the top three exporters of petroleum to the United States. It ranked second behind Canada in 2010 with exports to the United States of 1.3 million barrels per day.