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Take Two

Mexico opens energy sector to private companies after 75 years of state control

By Take Two Staff
Published Aug 7, 2014
Derrick hands remove the drilling tool with a sample of the marine seabed at La Muralla IV exploration oil rig, operated by Mexican company 'Grupo R' and working for Mexico's state-owned oil company PEMEX, in the Gulf of Mexico on August 30, 2013. The semisubmersible platform is able to drill to a depth of 10.000 meters in an environment such as the Gulf of Mexico.
Derrick hands remove the drilling tool with a sample of the marine seabed at La Muralla IV exploration oil rig, operated by Mexican company 'Grupo R' and working for Mexico's state-owned oil company PEMEX, in the Gulf of Mexico on August 30, 2013. The semisubmersible platform is able to drill to a depth of 10.000 meters in an environment such as the Gulf of Mexico.
(
OMAR TORRES/AFP/Getty Images
)

Take Two translates the day’s headlines for Southern California, making sense of the news and cultural events that affect our lives. Produced by Southern California Public Radio and broadcast from October 2012 – June 2021. Hosted by A Martinez.

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Mexico opens energy sector to private companies after 75 years of state control

It's one of the largest energy markets in the Americas and a top oil producer to the US. Now, it's open for foreign investment.

We're talking about Mexico's oil and gas sector. On Wednesday, the country's lawmakers approved a plan to end more than 75 years of state monopoly and open it to foreign investors. 

For more on what this could mean -- both for Mexico and the US -- we're joined by Jeremy Martin, director of the energy program at the Institute of the Americas in San Diego.