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.
- Self-Driving Truck Corridor From Mexico to Canada Proposed | Transport Topics Online | Trucking, Freight Transportation and Logistics News
- Canada, U.S., Mexico to establish working group for climate change, energy security | Financial Post
- Dólar caro y ductos: claves del éxito | El Financiero
- Aleja violencia a contratistas de Pemex
- US, Canada and Mexican officials meet in Mexico City to discuss antitrust enforcement – FTSE Global Markets