Enrique Pena Nieto Takes on National Pride in Mexico Energy Reform John Paul Rathbone - FT.com
go to original August 11, 2013

President Enrique Peña Nieto will take a leaf out of the history books when he reveals a long-awaited energy reform this week that aims to attract private companies to invest in Mexican oilfields for the first time since they were nationalized 75 years ago.

To deflate political opposition to the reform, which promises to unleash billions of dollars of foreign investment but goes against Mexican national pride, Mr Peña Nieto may, paradoxically, use some of the same language President Lázaro Cárdenas used when he nationalised Mexico’s oil industry in 1938.

Observers say this could deflate nationalist opposition to the controversial measure, which seeks to end the monopoly of state oil company Pemex, increase oil production by allowing profit-sharing contracts, and boost the economy at a time when global growth is slow and big emerging markets such as Brazil have lost their appeal.

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