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View Diary: Calderon's Privatization Plan for Mexico's Oil (31 comments)

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  •  they need to go the way of petrobras (0+ / 0-)

    51% gov owned 49% private, or something close to that.  mexico is rapidly depleting its reserves without adding new reserves and the situation will become dire in a few years as they rely heavily on oil revenue.  petrobras has done a good job for brazil in developing the resources but still keeping social concerns in mind by having some work done at home rather than getting it done cheaper abroad.  There is a happy medium between the gross corruption and inefficiency of Pemex or just selling out to the likes of Exxon and Chevron.  Sell 49% and use a big chunk of the proceeds to fund the needed investment in new developments, but keep ultimate control in the hands of the government.

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