Mexico proudly controls its energy but could find it hard to reach its climate goals
Mexico's taking control of its oil from U.S. and British companies is taught in schools and celebrated every year. The 1938 nationalization is a point of pride for millions, including President Andrés Manuel López Obrador. The popular president hails from the oil industry’s heartland. And 16 years ago, he led a fight against energy reforms aimed at drawing private investment to Mexico’s massive state-run oil company, Pemex. Frontrunner Claudia Sheinbaum and the other two candidates to replace López Obrador agree that they only want private companies in Mexico’s energy field to limited degrees. Experts say continuing to favor state-owned energy companies will make it harder for Mexico to meet its international climate change commitments.