December 12, 2013

HISTORY ENDS EVERYWHERE:

Pemex's Oil Monopoly Nears an End (JUAN MONTES, Dec. 11, 2013, WSJ)

The end of Pemex's monopoly is seen by some as the biggest economic change in Mexico since the North American Free Trade Agreement in 1994.

The energy sector overhaul represents Mr. Pena Nieto's grand wager to lift oil production that has stagnated at around 2.5 million barrels a day in recent years and tap shale-gas deposits in the north.

If passed and implemented Mexico could add 1.5 million barrels of oil a day and double gas output by 2025--lifting annual economic growth by as much as 1.6 points, according to estimates included in the bill.
Posted by at December 12, 2013 6:34 PM
  
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