Good news about PEMEX & Mexico

Silvio Canto, Jr.
It started out as a very bad week for US-Mexico relations when Rafael Caro-Quintero was released from prison early.    We were clearly blindsided by that.  I'm not even sure how much President Pena-Nieto knew of this release.  It's not helpful as they say.  We hope that this is not an example that Mexico is going backwards on prosecuting the other "Caro-Quinteros" sitting in jail. The other news is indeed good, frankly excellent.  It looks like Mexico is finally going to take a serious look at modernizing PEMEX.  The #1 problem is that PEMEX is an institution of the past.  It has done "muy poco" (very little) to find oil or distribute gasoline in Mexico.   PEMEX's headquarters are located in a very tall building in Mexico City.   It is a statue to corruption, one-party rule and the arbitrary nature of a large bureaucracy that can make or break your business. Just ask any Mexican who...(Read Full Post)

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