PRI: We Got Ideas, Too

The PRI is releasing some of its alternative proposals on oil reform this week, now that the "debate" is over. It makes some modifications to Calderón's plan to sell Pemex bonds to Mexicans, including cutting the duration from 11 years to four. I don't know who is the target market for the bonds, but four years seems way too short. If the idea is to give Mexicans a personal stake in the efficient operation of Pemex (rather than simply to raise funds), 11 years, or even 15 or 20, would make more sense.