Friday, October 21, 2011

Manlio Fabio Beltrones: NO to privatization of PEMEX

In what can be regarded a pretty direct reply to Enrique Peña Nieto's recent call for opening up the national oil company PEMEX to private capital, here is Manlio Fabio Beltrones, still a contender for PRI's 2012 nomination: It should develop, yes, but "without even a drop of oil passing into private and even less, foreign

The somewhat antiquated nationalistic bluster aside  - nobody is suggesting selling off PEMEX, but rather opening up for private investments in areas where it has little capacity, such as deep-see non-horizontal drilling - it is notable that Beltrones chose to jump right on top of this one to distance himself from Peña Nieto. Will we really have a genuine fight over the 2012 PRI candidacy, or is Beltrones merely trying to extract a higher price for declining?

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