A secret document regarding the Transatlantic Trade and Investment Partnership (TTIP) negotiations leaked this week shows that oil companies have just as much influence over the governments of the European Union as they do over the government of the U.S.
In the two-page document, the EU makes several arguments about why the TTIP should require the lifting of the U.S. ban on exporting crude oil, including pushing to add a “strong and comprehensive” chapter that would “combine our support for procompetitive regulation while also lifting bilateral restrictions on gas and crude oil, will show our common resolve to increase security and stability through open markets.”
In a revealing statement to the Washington Post, U.S. Chamber of Commerce’s vice president for Europe Peter Chase cut to the chase about what was really happening in these negotiations and who was calling the shots.
“Because U.S. and European companies, including energy companies, have invested heavily on both sides of the Atlantic, U.S. and EU negotiators are essentially representing the same company interests,” Chase said.
When both sides of a negotiation want the same thing, it is easy to see what the outcome will be.