Mexican News
The latest news from and about Mexican issues.Friday, July 18, 2008
Pemex Plans Fuel Supply Reduction.
La Prensa, San Diego, July 18, 2008 - “In an unpopular move, Mexico’s state-owned Pemex oil company announced it will reduce gasoline supplies for Baja California soon. Ramiro Zuniga Salazar, president of the Onexpo Baja Gasoline Station Operators Association, said Pemex informed gas station operators in a July 7 letter that it would begin reducing gasoline deliveries of the Magna brand from 80 million liters to 72 or 74 million liters per month. A gallon is equivalent to 3.8 liters. Coming on top of diesel shortages in recent weeks, the decision spurred worries of negative economic consequences for different economic sectors.” Read more.
Thursday, July 17, 2008
Mexican capital to reduce harmful gases.
Yahoo News/AP, July 17, 2008 - “The government of notoriously polluted Mexico City is promising to cut harmful greenhouse gas emissions 12 percent by 2012. The city says it will spend about 60 billion pesos (US$5.8 million) to achieve the goal. Half the funds will come from the local government, and the rest will come from carbon credits and private investment.” Read more.
The benefits of doing business in Mexico.
Arizona Business Gazette, July 17, 2008 - “Mexico is not the manufacturing destination it used to be. Maquiladora plants have closed as Mexican labor costs got undercut by cheaper workers in Asia. North American Free Trade Agreement issues have taken a back seat to rapid trade expansion with the giant developing countries of Asia. [snip] But a few stars might be lining up in Mexico’s favor, perhaps putting the country back in the limelight. For example, soaring fuel prices make it more expensive to ship goods from Asia and more costly to fly executives to and from meetings overseas. Plus, the weaker dollar and rising inflation in China have pushed up manufacturing costs there, while congestion at the major Southern California ports can mean snafus for importers who don’t plan ahead.” Read more.
Tuesday, July 15, 2008
Mexico City to Consult Public on Calderon Energy Bill .
Bloomberg, July 15, 2008 - “Mexico City’s government will hold a non-binding referendum this month on President Felipe Calderon’s plan to give the state oil monopoly more leeway to hire private companies, possibly giving ammunition to opponents of the bill. The local government, controlled by the opposition Party of the Democratic Revolution, or PRD, will ask residents two questions: if they agree with the proposal and whether they approve of private participation in the oil industry, Mexico City deputy secretary Juan Jose Ochoa said in a statement today.” Read more.
Crunchtime for Mexico’s Oil.
Counterpunch, July 15, 2008 - “The countdown to the denouement of the great debate over privatization of Mexico’s oil industry looms just weeks away and both sides in this bellwether battle against neo-liberalism are sharpening up their knives. With formal debate in the Senate set to end July 22nd, President Felipe Calderon’s privatization imitative is on the legislative fast track for a quick vote - Energy Secretary Georgina Kessel urges legislators from Calderon’s rightist PAN party, which holds a slim majority in both houses, to call a special session the moment debate ends to vote up the proposed ‘energy reform’ package over the objections of the opposition.” Read more.
MEXICO: High oil prices boost manufacturing.
IHT, July 15, 2008 - “Mexico’s growth may already be suffering because of the economic slowdown in the United States but its pull as an industrial centre could be set to increase substantially. Rising freight fees caused by high oil prices could see Mexico become increasingly attractive as a production base for US companies. However, for this to happen the government needs to integrate the economy more with that of its northern neighbour, and Mexican costs (such as wages) need not to increase substantially.” Read more.
Friday, July 11, 2008
Pemex: Reform proposal necessary for flexible contracting.
EnergyCurrent, July 11, 2008 - “Mexican President Felipe Calderón’s energy reform proposal would provide much needed flexibility for state oil company Pemex to contract work, according to Pemex planning official Sergio Guaso. Calderón’s proposal would exempt Pemex from standard public sector acquisition and service laws, allow the company to directly negotiate contracts for certain work rather than go to public tender and enable performance-based contracts to provide incentives, BNamericas reports.” Read more.
Thursday, July 10, 2008
Mexico Spying Accusations May Jeopardize Energy Bill.
Bloomberg, July 10, 2008 - “A Mexican opposition lawmaker accused President Felipe Calderon’s government of using the state intelligence agency to spy on opposition lawmakers in order to help push an energy initiative through Congress. Carlos Navarrete, leader for the Party of the Democratic Revolution in the Senate, said today the government sought information about lawmakers that could be used to persuade them to vote for the energy bill. He said relations between Congress and the president’s office will sour if Calderon doesn’t call for the resignation of the agency’s director, Guillermo Valdes.” Read more.
Mexico centrists like oil contract plan, eye graft.
Reuters UK, July 10, 2008 - “ The measure would give Pemex much greater leeway to work with private companies in oil production and exploration by offering cash incentives for good performance. Lozano, speaking to Reuters at a government conference, said the PRI was worried the plan could increase corruption in Pemex, which has a history of being riddled by graft.” Read more.
Wednesday, July 09, 2008
G8 climate rift emerges.
The Star, July 9, 2008 - “While environmentalists derided the agreement as woefully inadequate, Prime Minister Stephen Harper and other G8 leaders heralded it as an important breakthrough because it was the first time U.S. President George W. Bush has accepted the need to set targets for cutting carbon emissions. On the third day of the summit, the G8 group engaged Chinese President Hu Jintao, Indian Prime Minister Manmohan Singh and other leaders of so-called ‘major economies’ in the climate change debate. But by then the so-called Group of Five—Brazil, China, India, Mexico and South Africa—had already slammed the G8 climate change accord announced on the second day of the Japan summit.” Read more.
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