Critics of Calderon - like Andres Manuel Lopez Obrador- have warned that the president’s plan will lead to a full privatization of PEMEX:
Mexico's Constitution bans most private and foreign involvement in the industry, although Pemex subcontracts some work to private firms. The bill would allow Pemex to pay bonuses to private companies but not a share of the oil profits.
Lopez Obrador said the bill aims to privatize Pemex, allowing Mexico's oil revenues — which now account for nearly 40 percent of the national budget — to go to private and foreign companies.
He urged his followers to go house by house and neighborhood by neighborhood to educate Mexicans about "the grave consequences" of the bill.
Sources- Reuters, Associated Press, The Latin Americanist, Guardian UK
Image- Voice of America
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