Like Mexico, like Zambia. Crude harvest: selling Mexicos oil Mexico may be hitting the perfect storm when it opens its energy resources to foreign investors. Against the backdrop of Mexicos ever-widening gap between rich and poor, growing violence, and stalled economy, President Enrique Pena Nieto has passed a series of economic reforms. Under these reforms, Mexicos oil, which was expropriated from foreign interests 75 years ago, is now for sale to private, international companies. The reforms are the most divisive the country has seen in a century. Thousands are protesting against them, saying the new regulations could bring the nation to a tipping point as organised crime and violence would spiral out of control. When it comes to big business and drilling for oil, Mexicos farmers are the most vulnerable. Twenty years ago, the North American Free Trade Agreement (NAFTA), which opened Mexico up to trade with the US and Canada, led to the collapse of agriculture, and paved the way to the privatization of oil.
Posted on: Wed, 31 Dec 2014 09:13:51 +0000
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