tag:blogger.com,1999:blog-7179048494901365426.post5656171360553947189..comments2024-01-16T03:21:37.695-08:00Comments on Gancho: Oil Contracts Up for Biddingpchttp://www.blogger.com/profile/13973333514392213258noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7179048494901365426.post-2552195287785686212011-03-16T07:21:13.930-07:002011-03-16T07:21:13.930-07:00Can't say I share that worry. This isn't a...Can't say I share that worry. This isn't a radical piece of free-market craziness. Mexico has one of the most closed off oil industries in the entire world, and arrangements like this one are commonplace in the industry. The danger for Mexico is that it is so reliant on revenue (something like a third of the federal budget) from an industry whose revenues are going to be declining without exploiting new fields, which means involving companies, be they public or private, with more technological capability and funds to invest than Pemex has. It also, of course, implies that the govt should wean itself off of oil revenues. Shock doctrine, at least as I understand it (which I grant you may be a bit off), has very little to do with it.pchttps://www.blogger.com/profile/13973333514392213258noreply@blogger.comtag:blogger.com,1999:blog-7179048494901365426.post-55167947730238260342011-03-16T06:55:43.177-07:002011-03-16T06:55:43.177-07:00I am so sure that Mexico is on the path to another...I am so sure that Mexico is on the path to another Shock Doctrine moment. This is such a bad idea.Anonymousnoreply@blogger.com