April 9, 2008

EL WAYO DEL TRES:

Mexico's Calderon seeks to overhaul Pemex: The move, which he insists would not privatize the oil firm, is a huge political gamble for him (H├ęctor Tobar, 4/09/08, Los Angeles Times)

President Felipe Calderon on Tuesday called for a sweeping modernization of Mexico's state-owned oil company, outlining a series of reforms that would allow private firms to assume a greater role in the petroleum industry. [...]

The proposals announced Tuesday, finally laid out in detail after weeks of speculation, amounted to Calderon's biggest political gamble since taking office in 2006.

The Mexican Constitution forbids direct foreign investment in the oil industry or private ownership of it. The country nationalized the industry in 1938, after expropriating U.S. and European companies. Public ownership of the country's most lucrative natural resource remains a highly emotional issue.

In response to Calderon's initiative, leaders of the leftist Democratic Revolution Party, known as the PRD, announced that they would launch a massive campaign of civil disobedience against the "privatization" of Pemex.


Posted by Orrin Judd at April 9, 2008 7:56 AM
Comments

Orrin, your Spanish is inspiring. :-) Perhaps something more like "El Otro Sendero"?

Posted by: Jorge Curioso at April 9, 2008 9:06 AM

Doesn't Mexico's constitution have something to say about this?

Posted by: Sandy P at April 9, 2008 10:38 AM

Doesn't Mexico's constitution have something to say about this???

Posted by: Sandy P at April 9, 2008 10:41 AM

Well, if there's a double-posting, sorry.

Doesn't Mexico's constitution have something to say about this????

Posted by: Sandy P at April 9, 2008 10:43 AM

The 8th Path?

Posted by: oj at April 9, 2008 11:56 AM

That pot of gold is not going to leave government hands without a fight. Gentlemen, who will think of the slush funds? Think of the slush funds!

Posted by: Mikey at April 9, 2008 4:50 PM
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