Leaked Document Shows EU Desperate For U.S. Shale Gas & Oil Imports
The European Union is pressing the United States to lift its longstanding ban on crude oil exports through a sweeping trade and investment deal, according to a secret document from the negotiations obtained by The Washington Post.
It’s not entirely surprising. The EU has made its desire for the right to import U.S. oil known since the U.S. started producing large amounts of it in the mid-2000s. It signaled again at the outset of trade negotiations, and its intentions have become even more clear since.
This time, though, the EU is adding another argument: Instability on its Eastern flank threatens to cut off the supply of oil and natural gas from Russia. “The current crisis in Ukraine confirms the delicate situation faced by the EU with regard to energy dependence,” reads the document, which is dated May 27.
The leak comes in advance of another round of discussions on theTransatlantic Trade and Investment Partnership, which kicked off last fall and is expected to encompass $4.7 trillion in trade between the U.S. and the European Union when it’s finished (here’s an explainer on the deal). That won’t happen for several years — if ever — but knowledge of the E.U.’s position has inflamed the already-hot debate over whether to allow the U.S.’ newfound bounty of crude oil to be exported overseas.
Particularly irksome to environmentalists is the EU’s request that the U.S. make a “legally binding commitment” to export its oil and gas, which U.S. negotiators have so far resisted, according to the correspondence. (The U.S. Trade Representative declined to comment on a leaked document, except to say that it’s too early to characterize its position on any matter).