March 05, 2008

Abstract: (Angus Reid Global Monitor) - Many adults in Mexico believe it is time to allow private enterprises to exploit the oil reserves in the country alongside the state-owned Pemex, according to a poll by GEA-ISA. 50 per cent of respondents agree with this idea, while 34 per cent disagree.

(Angus Reid Global Monitor) - Many adults in Mexico believe it is time to allow private enterprises to exploit the oil reserves in the country alongside the state-owned Pemex, according to a poll by GEA-ISA. 50 per cent of respondents agree with this idea, while 34 per cent disagree.

In the early 1920s, Mexico was the world’s second-largest oil producer. In 1938, after negotiations with foreign energy companies failed, Mexican president Lázaro Cárdenas effectively nationalized the Latin American country’s oil industry. Cárdenas established Mexico’s state-owned oil company Pemex, which to this day is the sole supplier of commercial fuels in the country.

Mexican voters chose their new president in July 2006. Official results placed Felipe Calderón of the National Action Party (PAN) as the winner with 36.68 per cent of all cast ballots. Calderón—a former energy secretary—took over as Mexico’s head of state in December.

Last month, Pemex reported a net loss of $1.48 billion U.S., despite an increase in global oil prices. PAN member and energy commission secretary Rubén Camarillo discussed the current state of affairs, saying, "Mexico has been a big oil producer for the last 30 years, but the lifetime of the reservoir is coming to an end. At this point in time, PEMEX does not have the (required) technology."

Polling Data

Do you agree or disagree with allowing private enterprises, along with Pemex, to exploit the oil reserves in the country?

Agree	50%
Disagree	34%
Not sure	16%

Source: GEA-ISA
Methodology: Face-to-face interviews with 401 Mexican adults, conducted on Feb. 21, 2008. Margin of error is 5 per cent.