Over the last three decades, oil’s importance in the Mexican economy has diminished, with energy products shrinking from over three-quarters of all exports in 1982 to less than 15 percent in 2012. Still energy’s role in Mexico’s politics has not receded, in part due to the federal budget’s dependence on the sector—taxes and royalties comprise roughly a third of total inflows into government coffers. As the Congress negotiates the secondary legislation that will set the ground rules for opening up the energy sector in Mexico, the government will have to address this dependence as well, weaning itself from Pemex’s largesse.
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What we are Reading.
- More of America’s Foreign College Students Should Come From Mexico | TIME
- Fear Canada – Garrett M. Graff – POLITICO Magazine
- Trade Issues Headline Meeting of U.S., Canada and Mexico Ag Officials – Farm Futures
- Canada’s Caisse set to unveil big Mexico infrastructure fund- sources | Business | Reuters
- Plan Tamaulipas: A New Security Strategy for a Troubled State | Wilson Center