jueves, 3 de septiembre de 2015

What an independent member of Pemex's Board of Directors has to say...

Here's the conclusion, roughly translated from the Spanish:

"The blame for the risk Pemex face today are decades of corruption and bad administration, from the inefficiencies of a monopoly and the wasteful spending of the oil bonanza by federal, state and local governments. The Energy Reform gives us the opportunity to tackle the drop in oil prices. It will require an enormous effort by everyone. It's an effort that can't be postponed."

Carlos Elizondo's article is well worth the read. Here's the link:

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