Los Angeles Times
By Tracy Wilkinson and Shan Li
March 4, 2013
MEXICO CITY — Mexico's ruling party has taken a step toward opening its state oil company to outsiders, a move that could eventually allow U.S. oil firms to drill south of the border.
In an important test of Mexican President Enrique Peña Nieto's sway over resistant factions of his party, the Institutional Revolutionary Party has changed its bylaws to clear the way for changes at Petroleos Mexicanos, or Pemex.
Pemex, a symbol of nationalist pride, is the top source of tax revenue for the Mexican government. But its production of oil has been declining dramatically and the company is in dire need of outside expertise for deep-sea exploration.
On Sunday, PRI, as the party is known, passed several changes that Peña Nieto needed for the reforms he promised as a hallmark of his administration. Chief and most difficult among them is opening the behemoth Pemex to private and foreign investment, long a taboo in this country. Read more.
The MexicoBlog of the Americas Program, a fiscally sponsored program of the Center for Economic and Policy Research (CEPR), is written by Laura Carlsen. I monitor and analyze international press on Mexico, with a focus on security, immigration, human rights and social movements for peace and justice, from a feminist perspective. And sometimes I simply muse.
No comments:
Post a Comment