Article

2013-08-12 Caribbean-Latin America

Mexico may be heading towards oil privatization

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Posted by badanov 2013-08-12 00:00|| || Front Page|| [3 views ] Top

#1 I wonder if O & Co are planning the opposite?

Posted by g(r)omgoru 2013-08-12 02:59|| 2013-08-12 02:59|| Front Page Top

#2 So, Define "Privatization", do you mean The state "Privately owns it all?" or do you mean "Private people own it all, or will the "Private" people, simply not exist and the government IS the "Private" People?

Or perhaps the "Private" people simply are the people in government? (What a coincidence)

Posted by Redneck Jim 2013-08-12 10:46|| 2013-08-12 10:46|| Front Page Top

#3 The initial plan was to follow Brazil's Petrobras model, where the state owned 60 percent of Pemex's shares and the rest would be publicly traded. That idea, which is running into opposition, would require revising the Mexican constitution.

The problem is that Pemex needs investment. Pemex's production has declined (it's dropped from 5th largest to 7th largest petroleum supplier in the world) and it has issues with corruption, high costs of employment and all the other inefficiencies of a state-owned corporation. Pemex has outsourced a good part of its technical work, but even that's running into a lot of problems, especially from the farther-Left.

Pena has his work cut out for him.

Posted by Pappy 2013-08-12 14:29|| 2013-08-12 14:29|| Front Page Top

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