Full Title: Attaining Sustainable Development of Oil and Gas in North America: A Review of the Environmental Regulatory Landscape
Author(s): Alan J. Krupnick and Raymond J. Kopp
Publisher(s): Resources for the Future (RFF)
Publication Date: 06/2014
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North America has long been a significant player in global energy markets, more so recently given the revolutionary use of hydraulic fracturing technology to unlock oil and gas resources. With dramatic growth in oil and gas production in the United States (US) and Canada—combined with energy sector reforms in Mexico—many now consider the region to be a potential energy powerhouse.
The three countries have much to gain from these developments. The exploitation of these resources and the potential for enhanced cross-border energy trade is likely to make the continent’s energy-intensive economic sectors more competitive, improve energy security, dampen short-term energy price volatility, and stimulate continent-wide economic growth.
Some have noted, however, that maximizing the economic potential of the continent’s vast natural resources—while ensuring that development is environmentally sustainable and mindful of climate consequences—will require better cross-border coordination, particularly in the policy realm.
Identifying areas for policy reform and harmonization first requires an understanding of existing regulatory landscapes. To that end, leading experts from Resources for the Future (RFF) in the United States, the International Institute for Sustainable Development (IISD) in Canada, and the Mario Molina Center in Mexico have come together to develop this review of critical regulations related to the potential tri-national coordination of oil and gas markets. This process led to the development of over 60 individual policy analyses that are reflected in this report.
This review focuses on national and subnational environmental regulations that are important for governing the sustainable development of oil and gas. It provides a snapshot of the policies and regulations in each country related to oil and gas extraction, oil and gas transport and oil refining, and certain issues that impact demand.