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| Caribbean-Latin America |
| Mexico may be heading towards oil privatization |
| 2013-08-12 |
| A Forbes article about Mexican politics, and how President Pena may get his Pemex reform through the legislature with the help of opposition parties, and his ass protecting Pacto por Mexico. A socialist wanting to move Pemex towards the private sector? The deuce you say! From TFA: Though largely off the radar north of the Rio Grande, last month's local elections in Mexico provide an opportunity to read the political tea leaves south of the border. As the first elections in President Enrique Peña Nieto's term, the local polls in thirteen states and the gubernatorial contest in Baja California provide a partial picture of the electorate's view of Peña Nieto's first seven months in office. The results were a mild rebuke of the Institutional Revolutionary Party (PRI), which won approximately 55% of the posts contested, but suffered a net loss of 42 mayoralties--leaving a total of five million fewer citizens under PRI governments. However, the party is ahead in ten state assemblies, which will ease the eventual approval of constitutional changes considered in the upcoming energy reform. The results also highlighted the weakness of the major opposition parties following the 2012 presidential elections, given that they could only score important victories by running in coalition. |
| Posted by:badanov |
| #3 The initial plan was to follow Brazil's Petrobras model, where the state owned 60 percent of Pemex's shares and the rest would be publicly traded. That idea, which is running into opposition, would require revising the Mexican constitution. The problem is that Pemex needs investment. Pemex's production has declined (it's dropped from 5th largest to 7th largest petroleum supplier in the world) and it has issues with corruption, high costs of employment and all the other inefficiencies of a state-owned corporation. Pemex has outsourced a good part of its technical work, but even that's running into a lot of problems, especially from the farther-Left. Pena has his work cut out for him. |
| Posted by: Pappy 2013-08-12 14:29 |
| #2 So, Define "Privatization", do you mean The state "Privately owns it all?" or do you mean "Private people own it all, or will the "Private" people, simply not exist and the government IS the "Private" People? Or perhaps the "Private" people simply are the people in government? (What a coincidence) |
| Posted by: Redneck Jim 2013-08-12 10:46 |
| #1 I wonder if O & Co are planning the opposite? |
| Posted by: g(r)omgoru 2013-08-12 02:59 |