Saturday, October 29, 2011

Enrique Peña Nieto Wants To Privatise PEMEX


PEMEX, the Mexican oil company, is a Mexico owned monopoly authorized by Article 27 of the Constitution. As such, the U.S. Mexican Ambassador Jeffrey Davidow said that even talking about outside investment in PEMEX was “taboo.”

To hear Revolutionary Party (PRI) presidential pre-candidate talk about Pemex, leads one to conclude that PEMEX needs outside investment and the way to get that help is through privatization. Some say private investment as been reluctant to invest in PEMEX for fear that their property could be seized.

The handsome Nieto may bring the PRI back to power that's why his view is important. Nieto says "...Mexico has been 'held hostage' by it's mistaken urge to keep PEMEX nationalised and that Mexico 'can achieve more; grow more and do more through alliances with the private sector.'"

Dennis Gartman in the October 25th, 2011 Gartman Letter says,
Mr Pena Nieto has our interest. For the time in many, many years we are actually interested in owning things in Mexico.

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