BajaNomad

Mexico has no intention to scrap gas subsidy-FinMin

bajabound2005 - 8-13-2008 at 02:40 PM

Mexico has no intention to scrap gas subsidy-FinMin
Wed Aug 13, 2008 2:45pm EDT
GUADALAJARA, Mexico, Aug 13 (Reuters) - The Mexican government has no immediate plans to abandon or change a subsidy on gasoline, Finance Minister Agustin Carstens said on Wednesday.

The government is expected to spend close to $19 billion this year to subsidize gasoline, diesel and household cooking fuel in an effort to shield Mexicans from spiraling world oil prices. (Reporting by Luis Rojas Mena, Editing by Chizu Nomiyama)

CaboRon - 8-13-2008 at 03:42 PM

You wanted good news , Here it is !!!!!!!!

Bajaboy - 8-13-2008 at 04:22 PM

Well don't go complaining about infrastructure in Mexico then....can't have it both ways.

Zac

tripledigitken - 8-13-2008 at 04:42 PM

Quote:
Originally posted by Bajaboy
Well don't go complaining about infrastructure in Mexico then....can't have it both ways.

Zac


My thoughts exactly. Subsidizing a commodity below the market price, whilst the infrastructure to produce it is falling apart with no attempt to modernize or sink new wells. At the same time another thread is quoting a news story saying the Mexican Government is going to lower electric rates. You can bet it's not because of Government Efficency.

Now that's an oxymarooon!:lol:

Rant over.;D

Ken

CaboRon - 8-13-2008 at 04:56 PM

It's Bizarro Land ....

Just think of the smart move .... and turn it around 180 degrees :lol::lol:

What is this, dueling ministers?

tsgarcia69 - 8-13-2008 at 05:08 PM

Quote:
Originally posted by bajabound2005
Mexico has no intention to scrap gas subsidy-FinMin
Wed Aug 13, 2008 2:45pm EDT
GUADALAJARA, Mexico, Aug 13 (Reuters) - The Mexican government has no immediate plans to abandon or change a subsidy on gasoline, Finance Minister Agustin Carstens said on Wednesday.

The government is expected to spend close to $19 billion this year to subsidize gasoline, diesel and household cooking fuel in an effort to shield Mexicans from spiraling world oil prices. (Reporting by Luis Rojas Mena, Editing by Chizu Nomiyama)


Yep, that's what the finance minister said. Unfortunately, the Energy minister said the exact opposite today,

"México quitará subsidio a gasolinas
Miércoles 13 de agosto de 2008
2:27 PM | La secretaria de Energía de México, Georgina Kessel, anunció hoy que el gobierno mantendrá una política de ajustes extras al alza a las gasolinas que se comenzó a aplicar el mes pasado.

Kessel sostuvo que la política de incrementos en el diesel y la gasolina se mantendrá mientras el comportamiento del precio internacional del petróleo siga en alza.

La funcionaria hizo el anuncio durante una reunión sobre energía que organizó la Cámara Nacional de Manufacturas Eléctricas."

http://www.cadenaglobal.com/noticias/default.asp?Not=186541&...

Bienvenido a Mexico.

BajaGringo - 8-13-2008 at 06:05 PM

OK, who is making the next beer run???

loki - 8-13-2008 at 06:10 PM

It is impossible for Mexico to sustain the subsidy on fuel in the near future. Even China and other countries that have tried to maintain this socialist practice have admitted that they will bankrupt their economies by continuing this subsidy.
Enjoy it while you can as all things in Mexico and everywhere else are changing.
Do not worry though, Fish tacos should be cheap for some time to come.

rpleger - 8-13-2008 at 07:09 PM

Good for us...

bajalou - 8-14-2008 at 08:13 AM

They obviously learned finance form Washington DC. Going trillions of dollars deeper in debt each month, and finding more places around the world to spend money.

Bush pledges to rebuild Georgia's army.

http://www.latimes.com/news/la-fg-usrussia14-2008aug14,0,462...

If the US of A can live like that, why not Mexico????

loki - 8-14-2008 at 06:43 PM

Quote:
Originally posted by bajalou
They obviously learned finance form Washington DC. Going trillions of dollars deeper in debt each month, and finding more places around the world to spend money.

Bush pledges to rebuild Georgia's army.

http://www.latimes.com/news/la-fg-usrussia14-2008aug14,0,462...

If the US of A can live like that, why not Mexico????



I am always amazed how some on this board turn everything into an anti american,anti Bush rant.
When was the last time you heard about Mexico doing something for anyone beyond its own borders. Never.
They can not even protect their own people from the drug terrorist or the corupt police.