Property Rights and the Mexican Oil industry
From the control of mining resources at the end of the previous century by international corporations, the Mexican oil industry transitioned to a regime of national sovereignty and public ownership of oil after 1938, which allowed the design of an economic policy with a national vocation, assigning...
Guardado en:
| Autor principal: | |
|---|---|
| Formato: | Artículo publishedVersion |
| Lenguaje: | Español |
| Publicado: |
Centro de Estudios de Historia Económica Argentina y Latinoamericana (CEHEAL)
2013
|
| Materias: | |
| Acceso en línea: | https://ojs.economicas.uba.ar/H-ind/article/view/379 https://repositoriouba.sisbi.uba.ar/gsdl/cgi-bin/library.cgi?a=d&c=hindus&d=379_oai |
| Aporte de: |
| Sumario: | From the control of mining resources at the end of the previous century by international corporations, the Mexican oil industry transitioned to a regime of national sovereignty and public ownership of oil after 1938, which allowed the design of an economic policy with a national vocation, assigning several tasks to PEMEX. The adoption of the neoliberal model in the eighties, as the basis of the macroeconomic strategy, was the point of return to private control of the oil industry and the oil company. With the implementation of the neoliberal model, the vertical integration achieved years before was dismantled, PEMEX was forced to go into debt in order to be able to make its investments, and the company's fiscal resources were confiscated. Under the argument that it is preferable to export more where it is viable to multiply the contributions to the balance of payments and import products that international competition has made cheaper, not only is there a return to a model specialized in the production of a raw material to the detriment of the industrial sectors, but energy self-sufficiency is renounced, leading the country to a dangerous strategic dependence on oil derivatives. Under the dynamics of North American integration led by the United States, total openness is achieved in the upstream sectors of the Mexican oil company. The return to private ownership is visible from the contracts negotiated in the energy reform of 2008, and the disincorporation of substantive activities of the industry that constitute constitutional prerogatives, the company is heading under a dynamic of corporate governance to the legal conformation of a private corporation so that a major change arises with the rupture of the State-PEMEX binomial. |
|---|