Putting Pemex in Private Hands

Pemex Will Felipe Calderon’s legacy be known for privatizing Pemex, Mexico’s state-owned oil monopoly? At first blush that might appear as heretical as the Pope giving his blessing to priests who marry outside of the faith.  But it could happen, and the times may be just as right for privatization as they were for expropriation back in 1938.

As every schoolchild in Mexico knows, the hallmark of President Lázaro Cárdenas was expropriation of foreign oil companies. There’s even a holiday, albeit not one of those federal holidays where everyone takes a day off from work, celebrating the expropriation. Now, in a curious twist, writes Hector Tobar in La Plaza, rumors float that Lázaro Cárdenas’ grandson, Lázaro Cárdenas Batel, the ex-governor of Michoacán, could be just the guy to head the new Pemex. That could be daring and “too insane to be believed,” some might say, but possibly politically astute move. The idea definitely has its appeal.

The more times change, the more they don’t.

 

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One comment on “Putting Pemex in Private Hands

  1. Steve says:

    I have been watching this administration with great interest. There are undercurrents at work that will either free up the entrepreneurial spirit of the Mexican people or will stir up the feudal restraints that have mired Mexico in poverty. I hope that it will be the former. I look forward to living in a Mexico where the future will be better — but always with a particular Mexican face.

    Like

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