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May 09, 2018


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How plausible is AMLO even attempting to re-nationalize Pemex?

It seems dangerous politically.

I presume AMLO is a lock for the election. Is the composition of the General Congress likely to matter in terms of his policies?

Congress is vital. I'll say a little about current polling in another post.

He doesn't need to renationalize Pemex, since the company is still state-owned. What he can do is stop letting new contracts, although it would be very hard to take back existing ones without paying compensation.

His policy statements are all over the map and a bit contradictory; energy is where he's the clearest.

One of these days, Mexicans will realize that Pemex is not a national asset, but a national liability that has been used as a vote piggy-bank by the incumbents for years. Only now the thing is totally insolvent and will likely remain a drain on public coffers until it's broken up and privatized.

Of course this isn't likely to happen any time soon, especially under an AMLO administration.


Kim G
Redding, CA
Where our local gov't has its own (fortunately much smaller) boondoggles.

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