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Fri Mar 7, 2014, 02:59 PM

TAFTA Could Expand Fracking in US and Europe

From Ring of Fire:

A controversial trade deal known as the Transatlantic Free Trade Agreement (TAFTA) or the Transatlantic Trade and Investment Partnership (TTIP) could limit governments’ abilities to regulate fracking, thereby expanding the process in both the United States and Europe, according to a new report by Friends of the Earth Europe, Sierra Club, and others. US and EU banks and powerful corporations have been pushing for the trade deal for more than a decade.

Much like the Trans-Pacific Partnership (TPP), TAFTA/TTIP would not primarily target trade but rather health, environmental, and financial policies and protections. The trade deal threatens to weaken or roll back safeguards for citizens and the environment in favor of corporate investments. According to the new report, TAFTA/TTIP would allow “companies to seek compensation when government decisions affect their profits,” which could benefit companies that exploit natural resources by preventing governments from enforcing regulations or bans.

You can read the full article here at Ring of Fire.

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