Mexicans will cast a historic vote this coming Sunday July 27th on the fate of the much-debated Petróleos Mexicanos. The privatization debate and reform proposals have been making continuous headlines, and now the general population will vote in this unique referendum. The two questions will have two answer choices each and deal with the modernization of Pemex, the participation of private investors in the transportation, ducts and storage of hydrocarbons and on budget autonomy and administrative controls for the national oil company.The Mexican people are in general very proud of their natural resources, and it's important to note that Pemex contributes nearly 40% to the federal budget. Mexico City residents and nine other states will vote at 5,600 community sites from 8 a.m. to 6 p.m.
Politicians of all stripes are campaigning for the "correct" answers. Lopez Obrador says to vote "no" and Calderon's administration is in the midst of a media blitz using the slogan "The oil is ours, lets go get it" (El petroleo es nuestro, vamos por el).
The exact questions are:
"La explotación, transporte, distribución, almacenamiento y refinación de los hidrocarburos son actividades exclusivas del gobierno, ¿Está usted de acuerdo o no está de acuerdo que en esas actividades puedan ahora participar empresas privadas?"
"En general, ¿está de acuerdo o no está de acuerdo con que se aprueben las iniciativas relativas a la reforma energética que se debaten actualmente en el Congreso de la Unión?"
Previous surveys have shown high majorities voting to keep Pemex as nationalized as possible. On Sunday I'll interview voters on their reactions to the referendum and hopefully post some short video and quotes here.
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