A Leaked Document Shows Just How Much the EU Wants a Piece of America’s Fracking Boom

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 piece published this week at Carnegie Europe, the consensus among the seven experts is that despite the ambitions of the corporations who stand to benefit from TTIP, it is unlikely to move forward soon.  And to add to the strain in the U.S.-German relations brought on by the NSA spying revelations, this week it was revealed that a new U.S. spying scandal in Germany has further eroded trust in the U.S.

However, the corporations are unlikely to give up on this lucrative opportunity any time soon.

A Leaked Document Shows Just How Much the EU Wants a Piece of America’s Fracking Boom