¿Zapping Zapata?
Mexican President Felipe Calderon released his plans Wednesday to give greater autonomy to the country's nationalized oil monopoly PEMEX, a move criticized as privatizing the industry that constitutes 40 percent of federal income. With domestic oil production falling for the past six years, Calderon has had to negotiate his pro-business politics amid steadfast public opinion against denationalization.Mexican President Felipe Calderon released his plans Wednesday to give greater autonomy to the country’s nationalized oil monopoly PEMEX, a move criticized as privatizing the industry that constitutes 40 percent of federal income. With domestic oil production falling for the past six years, Calderon has had to negotiate his pro-business politics amid steadfast public opinion against denationalization.
WAIT BEFORE YOU GO...BBC:
Mexican President Felipe Calderon has called on the country’s Congress to approve an energy reform bill to overhaul state oil giant Pemex.
Mr Calderon said the plan would give Pemex more freedom to manage its budget and contract out work, so boosting both oil production and exploration.
Mexico’s known oil reserves are running out and production has been falling.
Mr Calderon stressed the bill would not privatise Pemex, a national symbol that has been in state hands since 1938.
This year, the ground feels uncertain — facts are buried and those in power are working to keep them hidden. Now more than ever, independent journalism must go beneath the surface.
At Truthdig, we don’t just report what's happening — we investigate how and why. We follow the threads others leave behind and uncover the forces shaping our future.
Your tax-deductible donation fuels journalism that asks harder questions and digs where others won’t.
Don’t settle for surface-level coverage.
Unearth what matters. Help dig deeper.
Donate now.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.