AMLO Leads Fight to Stop the Privatization of Pemex
In Mexican politics, few are more polarizing than Andrés Manuel López Obrador. Many love him and many hate him, but almost all respect him for his tenacity. And that’s including his most ardent critics, even if it’s done begrudgingly.
Commonly referred to as AMLO, López Obrador is spearheading a call for a mass mobilization to stop the privatization of Pemex, Mexico’s state-owned oil and gas company.
Pemex, which is the world’s second largest non-publicly listed company by total market value with assets worth $415.75 billion, was created in 1938 by President Lázaro Cárdenas who nationalized Mexico’s oil and gas from US and Aglo-Dutch companies. Wall Street and others have been chomping at the bit to get their hands on Mexico’s oil ever since.
Enrique Peña Nieto may submit his energy reform proposal to overhaul Pemex as early as Wednesday, reports say.
AMLO’s march is planned for September 8, but many have been discussing the possibility of street protests beforehand. The question is: Can anyone else stop Peña Nieto and the PRI’s plans to break up Pemex’s 75-year run as Mexico’s crown jewel?
The answer: No. If anyone can unite Mexico’s left and its various factions to keep Pemex in the hands of the Mexican people, it’s AMLO.
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