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.
- NAFTA’s junior partners: She loves me, she loves me not | The Economist
- New Atlantic Council Report on Mexico’s Energy Reform: Mexico “Ready to Launch” Predicts Large Foreign Investment and Boost in Manufacturing from Cheaper Electricity
- Mexican President Nieto To Talk Trade Ties, Immigration In Calif. Tour « CBS Los Angeles
- Is Industrial Mexico A Friend Or Foe To The U.S. Auto Sector?
- Mexico more open to foreign investment than Canada, declares ambassador | Embassy – Canada’s Foreign Policy Newspaper