Privatization Of Mexican Oil Will Advance SPP Objectives

Mexican President Felipe Calderon has proposed sweeping reforms to its state-owned oil company Petroleos Mexicanos (PEMEX). He denies that his reforms constitute privatization and claims they will serve to make PEMEX stronger. Many view his proposals as a threat to Mexican sovereignty and nothing more then an energy grab. It is through NAFTA and the Security and Prosperity Partnership (SPP) that the U.S. is further securing access and control to Canadian and Mexican resources. Former presidential candidate, Andres Manuel Lopez Obrador, who lost to Calderon, is spearheading a movement to stop oil privatization and pushing for a referendum. Opponents of the reforms were able to force the Mexican Congress to hold a series of debates which ended on July 22. There is a swell of national sentiment spreading across the country as the majority of Mexicans wish to retain control of one of their last symbols of sovereignty.

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