MEXICO, THE U.S., AND FREE TRADE

U.S. oil and gas producers should set aside natural competitive fears and support the proposed trade agreement involving the U.S., Mexico, and Canada. Problems beyond competition will result if the initiative fails. Competition is, nevertheless, an issue. And the competition issue has a name: Petroleos Mexicanos. When 15% of what one party to a trade pact sells the other comes from a state-owned monopoly chartered to keep foreigners out, trade freedom loses some of its charm. Yet Pemex is so