U.S., Mexico Agree To Cooperate On Gas And Oil Drilling

0 Shares
hill0221_image

The U.S. and Mexico agreed to work together in drilling for oil and gas below their maritime border in the Gulf of Mexico, The Associated Press reported.

According to the news outlet, Secretary of State Hillary Rodham Clinton and Mexico's foreign minister signed the deal at a ceremony in Los Cabos, as Interior Secretary Ken Salazar and Mexican President Felipe Calderon looked on.

The AP reported that the cooperation between the two countries dates back to an agreement between President Barack Obama and Calderon regarding a move to share in the profits and work together to avoid spills.

Clinton said that the deal would help to "ensure safe, efficient, responsible exploration of the oil and gas reservoirs in the Gulf of Mexico."

"These reservoirs could hold considerable reserves that would benefit the United States and Mexico alike," she continued, noting that the agreement would prevent disputes over who should get the rights to the resources and who would do the extraction.

The New York Times reported that the deal is called "The Transboundary Agreement" and will make up to 1.5 million acres of offshore territory claimed by the U.S. available for leasing by June 2012.

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to yousoundoff@personalliberty.com by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.