State Control Returns to Mexican Energy Production

Mexico’s energy sector is undergoing a dramatic transformation, which was announced on the 87th anniversary of the original oil expropriation by Lazaro Cardenas. These new ‘leyes secundarias’ will substantially alter the path set by the 2013 energy reforms that opened the industry to private and foreign investment. Former President Enrique Peña Nieto’s government promised that inviting private companies into oil, gas and electricity production would modernize infrastructure, reduce costs and boost efficiency. However,…