A few weeks ago, my column was entitled “Mexico and North America’s Energy”.

As I stated, “several years ago, I had the opportunity of serving on an advisory committee appointed by the Mexico Trade Commissioner who was based in the Dallas, Texas regional office.  The advisory committee’s focus was trade and tourism between Mexico and the US.  The committee was comprised of US and Mexico business representatives.

One issue that was addressed was US and Mexico energy relations.  Since 1938, Mexico has been under strict governmental guidelines with no privatization in place.”

As I stated in my book, The Braking Point, “the first sign of changing of the guard came in 1938 when Mexico President Lazaro Cardenas nationalized the nation’s oil.  Cardenas made this move to prevent further Americanization of Mexico.

This move pushed all of the American oil companies out of Mexico…This move also gave Mexico full control over the production and export of oil.”

Seventy-five years later, in August, 2013, President Enrique Pena Nieto proposed a plan to open its oil and gas sector to foreign investments through private-public partnerships.

Since the last column on this issue, Mexico’s Congress has recently passed constitutional amendments overturning the nationalization of the oil industry.  Mexico is now open for business when it comes to the energy sector.

There is no doubt in my mind that leaders in Mexico wanted to reap the same benefits that the American oil and gas industry has made over the last few years.

As I stated in August in an interview with the Wall Street Journal’s MarketWatch, “Mexico has strong potential to enhance oil and gas production by the support of US technology alone.  With US technology and expertise, Mexico and North America could potentially benefit in a very positive way.  With that said, there are a lot of details to work out.”

Although the nationalization of Mexico’s petroleum industry did not help the people of Mexico for the past seventy-five years, this move can hopefully bring economic stability to Mexico along with North America.

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