The second round of NAFTA negotiations that concluded yesterday in Mexico City sought ways to enshrine the 2014 energy sector reforms that the Enrique Pena-Nieto government had launched to overhaul an oil and gas industry monopolized by state-major, Pemex. This monopoly had all the consequences that were to be expected, including underinvestment in new oil and gas discoveries, falling output, and ultimately, a threat to the country’s energy security with increased reliance on imports, especially of fuels and natural gas, from the U.S.