Peak Oil: It should have been a day of high excitement. A public auction on July 15th marked the end of a 77-year monopoly on oil exploration and production by Pemex, Mexico’s state-owned oil company, and ushered in a new era of foreign investment in Mexican oil that until a few years ago was considered unimaginable.
The Mexican government had hoped that its first-ever auction of shallow-water exploration blocks in the Gulf of Mexico would successfully launch the modernisation of its energy industry. In the run-up to the bidding, Mexico had sought to be as accommodating as its historic dislike for foreign oil companies allowed it to be. Juan Carlos Zepeda, head of the National Hydrocarbons Commission, the regulator, had put a premium on transparency, saying there was “zero room” for favouritism. 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.
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