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Mexican Senate debates allowing foreign firms to drill for oil
http://www.rawstory.com/rs/2013/12/10/mexican-senate-debates-allowing-foreign-firms-to-drill-for-oil/
Mexican Senate debates allowing foreign firms to drill for oil
By Agence France-Presse
Tuesday, December 10, 2013 18:30 EST
Mexico’s Senate opened a debate Tuesday on controversial legislation to break the country’s oil monopoly by allowing foreign firms to drill for crude for the first time in 75 years.
The bill — which has sparked demonstrations — is the centerpiece of President Enrique Pena Nieto’s sweeping reform drive, which has led to new laws in tax collection, telecommunications and education in an effort to revitalize Latin America’s second biggest economy,
The latest reform would let private firms explore and extract oil and gas as well as share profits, production and risks with state-run energy giant Pemex, ending a ban cemented in the constitution.
The legislation was sent to the full Senate after three committees gave general approval in a 24-9 vote on Monday.