The United States-Mexico-Canada Agreement (USMCA) is the successor to the North American Free Trade Agreement (NAFTA), which was implemented on January 1, 1994. NAFTA was an agreement among the United States, Canada and Mexico designed to promote trade between the three countries.
Extracting oil or natural gas from shale, tight sandstones or coal beds requires drawing the resource through openings about one half the width of a human hair. Hydraulic fracturing uses water pressure to create hairline fractures in rocks deep underground so oil or natural gas can flow through a well to the surface.
As society continues to advance and address multiple important issues – such as alleviating poverty, expanding economic development, and providing billions of people with basic energy access and improved living standards – the demand for energy across the global economy is expected to grow substantially.