Methanex Seeks U.S. Payment for MTBE Ban
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Methanex Corp. argued to a trade tribunal that it deserved $970 million from the United States in compensation for a 1999 California ban of its gasoline additive.
The Vancouver, Canada, company made its argument at the World Bank in Washington, capping a five-year legal campaign against California’s ban of methyl tertiary butyl ether.
The hearing is the first public proceeding under North American Free Trade Agreement rules meant to secure the rights of foreign investors. Methanex is opposed by the U.S. government and environmental organizations that say this case could set off a flood of cases targeting federal or state regulations.
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