I know the political risk Obrador takes by potentially going tough on PEMEX but if he really wants to reform this piece of Mexico, he must get his mind around letting PEMEX fail. I know what you will say – but all those jobs. And what to do with all the … – This story has no happy ending. The sooner Mexicans understand this the better for them. But Obrador knows why he can never do this. He would probably loose re-election over this. So he must soldier on and do as if this dinosaur can survive the asteroid. Until everything is too late and Mexico cannot take it anymore. Learn a lesson from the Gringos up north – they are not even close to be perfect, but they let big companies fail from time to time. That’s healthy.
Pemex is personal for Andres Manuel Lopez Obrador, who grew up in Mexico’s oil heartland at a time when the state company was a source of national pride.