Incoming Mexican President: ‘Neo-liberal’ Oil Plan Shelved

Mexico’s incoming leftist president, Andres Manuel Lopez Obrador, said an oil reform that allowed for the sale of oil rights to private investors will not continue during his term, according to an interview published on Nov. 30.

Lopez Obrador, who takes office on Dec. 1, told the left-leaning daily La Jornada that the landmark energy overhaul passed by outgoing President Enrique Pena Nieto had been “a big scam” and that he would focus on boosting state investment.

“They stopped investing, assuming that foreign investment was going to arrive and that public investment was not going to be required. Foreign investment did not come; that was a big scam,” Lopez Obrador said.