Posted on 03/07/2021 12:38:08 PM PST by Theoria
A bill that the Mexican president is expected to approve soon would curtail private investors in the energy industry and possibly reverse gains in lowering carbon emissions.
President Andrés Manuel López Obrador has never been short of criticisms about his predecessor’s legacy. But he has reserved a special contempt for the sweeping overhaul that opened Mexico’s tightly held energy industry to the private sector.
He has called the changes a form of legalized “pillaging,” the product of corruption and a resounding failure. He has suggested that some foreign energy investors are “looting” the nation and that Mexican lawyers who work for them are guilty of treason.
He is now formalizing his most aggressive attack yet on the measures.
In the next few days, a bill that would strengthen the dominance of Mexico’s state-owned electricity company is expected to become law. The measure, which was recently approved by Mexico’s Congress with the forceful support of Mr. López Obrador, would also limit the participation of private investors in the energy sector. Both effects are central to his long-held aim of restoring energy self-sufficiency and safeguarding Mexican sovereignty.
Mexico’s dependence on foreign hydrocarbons was highlighted last month when a winter storm in Texas led to the interruption of natural gas deliveries from the United States, the source of most of the natural gas used in Mexico. Mr. López Obrador pointed to the ensuing blackouts as evidence of the need to lower dependence on foreign energy.
(Excerpt) Read more at nytimes.com ...
“...and possibly reverse gains on emissions.”
Get serious, low IQ journalists. All the free nations (if we still consider the U.S. to be free) could cease ALL carbon emissions, and China and India would still continue to raise the world percentages.
Shove it up your collective (and very seriously infected) Dorkbamaholes.
That’s just what Mexico needs: more socialism.
1 - Putting the government in charge of anything that is best handled by the private sector is foolish
2 - and ‘fixing up’ Mexico is like prescribing vitamins and exercise to a corpse, and especially bad in Mexico’s case since anyone wealthy enough to buy the power grid or an oil field is probably already neck-deep in the narcotics ‘industry’.
That Venezuelan system seems to be be catching on in Mexico and Bidet land.
Mexico nationalized their oil industry back during the time around the revolution. The reason was the Rockefeller family, and standard oil, treating Mexico about the way British petroleum treated Iraq in the late 40s and early 50s. Rockefeller paid a few well placed bribes and extracted and took every dime north.
Mexico is very suspicious of foreign control of extractive industries being owned by foreigners. It’s very sensible but enrages globalists.
Hence this story in the Slimes.
Like Vincente Fox, Nieto is a globalist shill for sale. Both fit in well with the Bush republicans. Obrador is turning out to be a decent guy. Like Trump, he was cheated at the polls. He formed a new party for that specific reason and then finally took office.
He’s a nationalist and so they go after him. But he was dead last to accept Biden, unlike Bibi who called nov 4th.
Bkmk
Yep! Only governments should be allowed to "pillage"...
Mexico’s dependence on foreign hydrocarbons was highlighted last month when a winter storm in Texas led to the interruption of natural gas deliveries from the United States, the source of most of the natural gas used in Mexico. Mr. López Obrador pointed to the ensuing blackouts as evidence of the need to lower dependence on foreign energy."
I don't see his aim for energy independence for his country as much different than for any sovereign country, including ours. Aren't we in FR always calling out for more energy independence from other countries, including China?
As long as it doesn't have an impact on the cartels' ratlines full of bribe money, the Congresscritters don't care.
Too funny - big difference between Capitalist energy independence and socialist no energy.
Mexico's current offshore fileds are in need of major revamps. There are some new platforms and FPSO going in to pressurize some existing fields.
As to their Refineries, Mexico has a few refineries and power plants to support these refineries as well as some SABIC (Saudi) Chemical plants.
Should Mexico go back and re-nationalize this area of their economy, they will soon look like Venezuela
No doubt. But, Mexico has not developed a oil farm team to handle the oil production. Their last plays at nationalization have been destructive. This, sudden play will certainly create uncertainly at a time of rising oil prices. They are free to do what is in their best interest, but there will always be a reaction from markets, and movement of people.
Socialism doesn’t like competition from private enterprise.
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