printThe question was asked and answered by The Economist, albeit with no keen insight into the dynamics of state-ownership vs. markets: “More than 140,000, and even then they’re not very good at it. For this, now acute, problem, blame the politicians.”
Pemex is Mexico’s state-owned oil monopoly. The Mexican “constitution bans private investment in hydrocarbons.”
Socialist stagnation or so-called “capitalism” with a murderous boom/bust cycle, are these are only choices?
The truth is that the battle has been between fascism and socialism since 1913.
Woodrow Wilson should have said “We are all fascists now” when he signed the Federal Reserve Act.
How can a world this stupid continue? It is surely a Miracle that it does.
There’s nothing quite like an oligarchy, which in Mexico’s case is the ruling class of a select group of families. They own their country’s constitution. They care nothing for their own poor, and suck up our zillions in foreign aid to that country.
I remember back before NAFTA was passed, the thugs behind that bill told Americans that it would help stem the tide of illegal immigration! Too bad folks here bought that argument and allowed their representatives to vote for that agreement.
M.B. Moon wrote: “Socialist stagnation or so-called “capitalism” with a murderous boom/bust cycle, are these are only choices?”
No! You can have socialist stagnation AND a murderous boom/bust cycle. It’s called progressivism, I believe. We’re very progressive here in America.
I’m not sure whether Mexico’s primary problem is socialism or chauvinistic machismo. The Economist article disingenuously states that “Cárdenas expropriated foreign oil companies in 1938.” Actually, he expropriated American oil companies, to get rid of the damned Yanquis. Mexicans know who has the expertise to produce their offshore oil, but just don’t want to admit that gringos can do what they can’t. Of course, American oil companies would probably be reticent to do business in Mexico without guarantees (backed by the U.S. Marines) or plenty of cash up front.
Reminds me of the fictional account of the Mexican D’anconia Copper mine in Atlas Shrugged.
A double set of walls, integrated with tripwires, day/night cameras (real and lots of fakes), microphones, seismic sensors, automatic monitoring algorithms, integrated with trained mobile border patrols will do more to stop tresspassers than 100 NAFTA’s.
But neither the Wall Street Plutocrats nor the La Raza politically correct Hollywood Intelligentsia give a hoot. Sure – the non-elites may suffer but they don’t control the “bundles” of campaign cash. The “technical solution” exists but the “political solution” is elusive.
Meanwhile, the US Auto Industry is just like Mexico’s Oil Industry.
Americans are great at drilling for oil.
Even in Mexico.
http://www.forbes.com/forbes/2008/0901/102.html