Former president Fox spoke at the University of the Pacific last night, and included in his comments was the announcement that Mexico has about seven
years of oil reserves left to pump. He seemed to suggest that the only way Mexico could create the infrastructure to expand drilling and remain
energy self-sufficient was to sell off about 30% of Pemex. It is doubtful that is politically feasible.
In other news, he called Mexican immigrants to the US (legal or otherwise) his "heroes," noting that his own grandfather was a US citizen from
Cincinnati who emigrated to Mexico. He also chastised the US federal government for not reforming our immigration policy to allow undocumented
Mexicans to stay and bring their families to the US.
He defended NAFTA as a benefit to all three counties involved and insisted that companies like Whirlpool who had moved manufacturing to Mexico were
also strengthening their US workforce and would have gone bankrupt but for the move.
My wife, who worked at Fox's party headquarters while she was in college, was not particularly impressed with the speech, but she did have her photo
taken with Mr. Fox after the event.DENNIS - 5-7-2011 at 08:57 AM
The man continues to be useless.TMW - 5-7-2011 at 09:01 AM
["He seemed to suggest that the only way Mexico could create the infrastructure to expand drilling and remain energy self-sufficient was to sell off
about 30% of Pemex."]
With as much revenue they get from selling oil outside of Mexico they sould have the resources to explore. However they don't need to sell Pemex but
enter a partnership with a large oil company.DENNIS - 5-7-2011 at 09:12 AM
Quote:
Originally posted by TW
With as much revenue they get from selling oil outside of Mexico they sould have the resources to explore. However they don't need to sell Pemex but
enter a partnership with a large oil company.
Relinquishing any part of Pemex will be harder than pulling teeth without Novocaine. To the Mexican sense of pride, Pemex is much more than an oil
field. It's a trophy, taken from the foreign countries that put it all together. [I know...it was paid for]
Anyway, there's even a national holiday commemorating the event, Expropriation Day.
It won't be given up easily....probably not at all....never.
