To privatize or not to privatize? That is the question regarding the future of Mexican state-run oil firm PEMEX. During a ceremony marking the 70th anniversary of the nationalization of PEMEX, President Felipe Calderon said that he wanted to “transform Pemex so it becomes a more efficient and stronger company.” Doing so would require a partial privatization that Calderon claims would significantly boost production.
Critics of Calderon’s plan feel that he is using scare tactics to convince people that PEMEX will soon collapse unless it's reformed. One of the most vocal critics has been Andres Manuel Lopez Obrador- who Calderon beat in a highly contentious presidietal election:
Leftist opposition leader and defeated presidential candidate Andres Manuel Lopez Obrador said opening the company up to outside investment would threaten national sovereignty.
"We can't permit any kind of foreign entities or economic interests to come before the nation of Mexico," he told a rally in Mexico City.
"The theft of the oil industry would leave open the risk of violent confrontation," Mr. Lopez Obrador said, promising more protests against any proposed reform.
Sources- PRESS TV, BusinessWeek, The Latin Americanist, Houston Chronicle, BBC News
Image- TIME (“A Petroleos Mexicanos (PEMEX) oil rig in the Gulf of Mexico, near the shores of the state of Campeche, Mexico.”)
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