U.S.-MEXICO FUTURES FORUM: Reforming Pemex

Cuauhtémoc Cárdenas weighs in with his ideas for reforming Pemex.

I think most Mexican political actors agree that there will be no constitutional reform: Article 27 will stay as it is; there will be no privatization of Pemex or of those activities the Constitution reserves to the Mexican state. I expect, after a deep discussion, there will be no opening on exploration, exploitation, refining, transportation, or any of the activities that are reserved by the Constitution to the Mexican government, that is, no opening to private investment in these areas.