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Media 032414 Energy reform

Monday, March 24, 2014

Mexican Presidency Outlines Some Benefits of Energy Reform

Presidency of the Republic Staff

Energy Reform is the most important economic change in Mexico in the past 50 years. Here are some of its benefits:


• It opens up new opportunities for growth, while at the same time preserving the country’s ownership of its wealth.

 

• The Mexican state is and will remain the sole owner of oil reserves, oil revenue and Petróleos Mexicanos (PEMEX).

 

• Mexico also has more financial resources and technologies to exploit its vast energy resources, without incurring debt or putting its public finances at risk.

 

• It is based on an open and competitive model, which expands the capacities of the Mexican state to take advantage of the country’s energy resources for the benefit of the population.

 

• Mexico will have more gas, oil and electricity. All this will reduce the cost of producing energy, enabling Mexican families to pay less for the electricity and gas they consume in their homes.

 

• The countryside will also benefit. Having a greater supply of petrochemicals, such as the ammonia produced in this plant, will make it possible to produce more fertilizers in Mexico to support the country’s food production.

 

• The reform will allow Mexico to grow faster, creating jobs for hundreds of thousands of Mexicans.

 

• Businesses, especially small and medium ones, will have more and cheaper energy which will make them more productive and allow them to hire more people.

 

• Mexican families will feel the benefits of a growing national economy in their pockets.

 

• It will protect the environment, by using cleanlier, more environmental-friendly energies.

 

• The labor rights of workers will be protected. Their seniority and all their labor achievements will be guaranteed.

 

• PEMEX will no longer be regarded as yet another government office, but as a world-class productive firm.

 

It is time for the country’s energy resources to allow us to build a new Mexico, one that is more dynamic, competitive and prosperous.

 

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Presidency of the Republic, Mexico, DF, Mar. 18, 2014; translation by Presidency of the Republic

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