Monday, December 16, 2013

Pemex No Longer Untouchable

Progress In Mexico

Even though President Enrique Pena Nieto (age 47) is a member of the long ruling and for decades the only party of Mexico, the PRI, he appears committed to bring Mexico into the 21st century.

Last week, Mexican Congress passed by a vote of 354-134 what may turn out to be the greatest economic reform in decades by exposing the state owned, very inefficient oil company Pemex to face more free market competition in exploration and production.

A Constitutional Change Is Required

Pemex is enshrined in the Mexican constitution like a national patrimony. Perhaps, finally a new, younger, more open minded generation of politicians has arrived.

This is great news for the Mexican people!

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