Mexico proudly controls its energy but could find it hard to reach its climate goals [Financial Post (Toronto, Ontario, Canada)]
IBERDROLA SA S/ADR (IBDRY)
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Source: Financial Post
MEXICO CITY (AP) — Mexico's taking control of its oil sector from U.S. and British companies is taught in schools and celebrated every year. The 1938 nationalization is a point of pride for millions of Mexicans including President Andres Manuel Lopez Obrador. The popular president hails from the Mexican oil industry's heartland, and 16 years ago he led a fight against energy reforms that were aimed at drawing private investment to the massive state-run oil company, Pemex. This year, the front-runner in the race to replace Lopez Obrador chose the anniversary of Mexico's oil expropriation to announce her energy proposals, which include maintaining large-scale petroleum production by Pemex. Article content Article content Front-runner Claudia Sheinbaum also wants to make sure that the government-run Federal Electricity Commission, CFE, generates the majority of the power Mexico supplies to homes and businesses. Like the other two candidates to replace Lopez Obrador, she only wan
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