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SURPRISE! A Cardenas favoring private investment in Pemex…

18 March 2007

… sorta. 

I still don’t know if Lazaro is spinning in his urn at the Monument to the Revolution, and how much of this is Cuauhtémoc’s tendency to say to PANistas “whatever it is, I’m against it,” and how much is merely trying to work out a way to modernize Pemex without using foreign capital (which would turn over control to foreign interests). 

My translation from an article by Jorge Ramos in today’s El Universal (Original © 2007, El Universal):

Three-time Presidential candidate, Cuauhtémoc Cárdenas, outlined conditions under which private investments could be included in the oil industry within existing Consititutional limitations, as well as suggesting the creation of a public company to handle natural gas distribution.

Leading a ceremony marking the 69th anniversary of his father’s expropriation of the oil industry, Cárdenas Solórzano said that the rules for private investment are clear.

Constitutional regulations very clearly define what is open to participation by anyone, and what the limits are to participation,” the PRD founder said.

Cárdenas Solórzano outlined a 10-point plan for consideration, and called on Congressional representatives, specialists and academics to analyze and develop alternative solutions for taking advantage of the still important hydrocarbon resources in the country.

The plan calls for developing an energy and modern industrial policy to cover the entire Mexican hydrocarbon industry, as well as energy security, and fortifying the large number of providers, engineering and related service industries that service Pemex.

To open planning to participation by not just government and legislative bodies, but also by companies that contribute to the productive sector, as well as the consumers of energy sector goods and services in a National Energy Commission could lead to an agreement with definite goals for a long-range industrial policy.”

At the end of the ceremony, a group of about ten supporters of Andrés Manuel López Obrador heckled the speaker.


At another Expropriation Day ceremony, Pemex director Jesus Reyes Heroles (which makes him a cabinet secretary), also suggested better financing for the “paraestatal” enterprise… and lessening the federal government’s dependence on Pemex revenues.

Felipe Calderón, at yet another Expropriate Day speech, said “we don’t want to leave the youth without oil,” also suggested some private investments.

All three speakers are the scions of political dynasties representing three different currents in post-expropriation politics… Cárdenas from the left, Reyes Heroles from the PRI and Calderón from the right all recognize that the state firm needs a capital infusion. But no one is suggesting — and no one is going to suggest — privatizing the state institution, or giving control to the multinationals… that’s a pipe(line) dream.

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