Business Summit for the Development of Southern Mexico Session: North America Competitiveness -- As Prepared for Delivery
Thank you for that kind introduction.
It’s great to be here with you all in Mexico for this opportunity to discuss North American competitiveness.
Today’s dialogue highlights the undeniable fact that the U.S. and Mexico share far more than a border between us.
We share a commitment to economic security and national security, and the certainty that both depend on energy security.
We share a conviction that if we wish to advance energy security, we must continue producing all of our energy resources abundantly, affordably, efficiently, and reliably –from fossil fuels to zero-emissions sources like nuclear and hydro, wind and solar.
We share a belief that we need not sacrifice energy development or economic progress to make our environment cleaner.
We share an understanding that in order for energy progress to continue, we must encourage innovation over regulation, and support effective market structures that spur private-sector investment.
And yes, we also share some of the same obstacles when it comes to energy security, including the need to protect our infrastructure from threats and vulnerabilities like cyberattacks and natural disasters.
As well as ensuring we have the necessary infrastructure built so we can reliably deliver our energy abundance to our citizens and our allies around the world.
Though we may face challenges from time to time, as friends often do, it’s no surprise that we continue to enjoy a strong relationship fortified by energy, a relationship we greatly look forward to strengthening in the coming years.
Our growing energy trade and investment speak volumes about that relationship.
Mexico is the third-largest supplier of imported crude oil to the United States.
At the same time, Mexico is the top destination for U.S. natural gas and refined product exports.
Nearly half of Mexico’s gasoline consumption is now imported from the United States, and more than half of U.S. natural gas exports are destined for Mexico.
Thanks to the stunning wind, solar, and geothermal resources in Mexico, investment in your renewable energy sector is expected to increase dramatically over the next 15 years.
Due to the energy abundance both our countries are lucky to have and our highly integrated, interdependent energy market, there is a wealth of opportunity for cross-border Foreign Direct Investment as well as private sector investment.
I want to reiterate that as energy partners, both of our countries are entering an era where we can advance not only our energy security, but the security of North America and indeed, the rest of the world.
We are entering what Secretary Perry has called the New American Energy Era…an era of vastly improved energy choice for the world as we share with other nations, including those in this hemisphere, our energy bounty and innovative technologies – diversifying the world’s energy supply.
By exporting both our energy and our expertise to these countries; by increasing our energy investments there; by sharing our environmental, regulatory, and commercial best practices, we can expand markets, create jobs, reduce consumer costs, and empower our neighbors to choose their own energy futures.
So what does the U.S. offer as opposed to other countries?
Simply put, U.S. industry offers the finest, safest technology in the world.
And standing behind it is an iron-clad commitment to fairness, transparency, and freedom.
So let us continue to strengthen our energy relationship.
Let us work together, grow together, and prosper together.
And let us spread our energy successes across and beyond North America, so we can live in a world filled with stable, peaceful, and thriving nations.
I look forward to our discussion.