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Privatization of Mexican Oil Will Advance SPP Objectives By Dana Gabriel
Mexican President Felipe Calderon has proposed sweeping reforms to its state-owned oil company Petroleos Mexicanos (PEMEX). He denies that his reforms constitute privatization and claims they will serve to make PEMEX stronger. Many view his proposals as a threat to Mexican sovereignty and nothing more then an energy grab. It is through NAFTA and the Security and Prosperity Partnership (SPP) that the U.S. is further securing access and control to Canadian and Mexican resources. Former presidential candidate, Andres Manuel Lopez Obrador, who lost to Calderon, is spearheading a movement to stop oil privatization and pushing for a referendum. Opponents of the reforms were able to force the Mexican Congress to hold a series of debates which ended on July 22. There is a swell of national sentiment spreading across the country as the majority of Mexicans wish to retain control of one of their last symbols of sovereignty.
Mexico’s oil industry was nationalized in 1938, and its constitution forbids foreign investment in the oil sector, including private corporate ownership. Calderon insists that his reforms are necessary for the very survival of the country. He describes PEMEX as broken and bankrupt, and believes that the only way to further develop any deepwater drilling is by opening it up to foreign investment. The reforms will allow for key components of PEMEX to be taken over by private companies. Opponents of the plan have called it backdoor privatization and fear it will lead to the complete takeover of the industry. If passed, the reforms will allow private companies to build refineries, transport oil, and own pipeline networks. It will open 37 of PEMEX’s 41divisions to private subcontractors. It has been reported that Halliburton already has a contract with PEMEX to drill for new wells and maintain pipelines. The move to privatize Mexican oil runs contrary to a worldwide trend to further nationalize oil reserves.
There is little doubt that there are many problems associated with PEMEX, but there should be the necessary funds in place to make upgrades and pay for future development. There have been allegations of corruption, including massive money deviations and other improprieties. Some of its profits also went to pay down Mexico’s foreign debt. The point is that there has been very little in the way of accountability of money allocations. PEMEX also turns over 60% of its revenue to the government in the form of taxes. Some of this money is used for social programs and public work projects. It has been suggested that, by lifting the tax burden imposed on PEMEX, it would be able to reinvest in its own development. What is at stake is Mexico’s future as a sovereign nation. There are fears that the privatization of PEMEX will only lead to more social unrest and plunge Mexico into even deeper poverty. What are needed are reforms that truly strengthen PEMEX and guarantee its oil supply for Mexican demand. This runs contrary to the SPP and a North American resource pact which ultimately favors the United States.
To read the rest of the article go to Dana's Blog
"I do this for the love of my family and humanity. If it sparks debate and leads people searching for the truth then it is all worth it. Keep up the fight against the NWO." Dana Gabriel
newworldordermustbestopped@hotmail.com
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