Petropassions and Privatization in Mexico
Enrique Krauze has an editorial in yesterday’s New York Times analyzing the resistance to all-but-a-done-deal oil reforms in Mexico, which will probably be voted through by the country’s parliament later this month. It’s a strange little piece. While he covers a lot of ground, illustrating in broad strokes the fight over Mexico’s energy—and economic—future, the essay is most notable for what Krauze leaves out in his implicit defense of the energy privatization.
Krauze identifies three factors animating resistance to Mexican President Enrique Pena Nieto’s proposal to opening the country’s oil sector to foreign investment: the average citizen’s appalling experiences with previous privatization schemes, nationalism, and fears of increased corruption should the country find itself in another oil boom, as happened in the 1970s.