Supreme Court Rules Mexico Energy Referendum Would Violate the Constitution Ian Hanner - Exploration World
go to original November 4, 2014

Mexican political leader Cuauhtemoc Cardenas talks about the oil expropriation in Mexico, developed by his father Gen. Lazaro Cardenas. (teleSUR)

Mexico’s highest court in the land has rejected the constitutionality of a proposed popular vote that would uphold or overturn energy reform ushered in this year.

In a 9-1 ruling, Mexico’s Supreme Court found the referendum violated the constitution because “matters involving state revenue cannot be subjected to popular vote,” according to Fuel Fix.

Earlier this year, Mexico’s congress, spurred on by President Enrique Peña Nieto, voted to overturn a 76-year-old Pemex monopoly on the development of Mexico’s oil and natural gas resources. The idea of this constitutional monopoly at the time was the safe and effective production of the resources to benefit the people of Mexico.

...However, a tanking production rate, compounded with accusations of internal corruption within Pemex and a growing black market trade of oil stolen from Pemex pipelines, encouraged lawmakers to open Mexico’s oil and gas sector up to private investment and development, both domestic and foreign.

Many on the left in Mexico have opposed this measure, saying Mexico’s petroleum will no longer benefit the citizens.

Read the whole story at Exploration World

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