Oil's role in free trade agreement crux of Mexico's petroleum sector dilemma
Mexico's president Salinas' efforts at privatization have not yet touched Mexico's most valuable industry, oil. That remains under control of state owned Petroleos Mexicanos. Pemex and Mexico's huge oil union have come under increasing criticism for alleged abuses of power. In addition, controversy rages as to the true extent of Mexican oil resources and whether Pemex has the wherewithal to meet domestic demand and sustain oil exports. Critics also contend opening Mexico's oil sector to foreign participation would introduce new efficiencies and cost cutting measures in the cash strapped state oil industry. This paper reports that at the center of the controversy is the proposed Free Trade Agreement among Mexico, the U.S., and Canada, pushed strongly by Salinas. Oil's role in the FTA may prove the pact's main sticking point.
- OSTI ID:
- 5650941
- Journal Information:
- Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 90:5; ISSN OIGJA; ISSN 0030-1388
- Country of Publication:
- United States
- Language:
- English
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