December 14, 2013 – LAROUCHEPAC
On Dec. 12, the Mexican lower house voted by a two-thirds majority in a 353-134 vote, to end government control of Mexico’s oil. The sovereign control of its oil is embedded in the principles of the Mexican Constitution, which asserts sovereignty over Mexico’s sub-soil. This principle was a fundamental aspect of the Mexican Revolution embedded in Article 27 of the Constitution, which provides that “in the nation is vested the direct ownership of oil.” The principle laid down in Article 27 was later embodied in the Petroleum Law of Dec. 26, 1925. This law declared oil to be the inalienable property of the nation.
The bill will allow companies such as Exxon Mobil Corp and Royal Dutch Shell to invest in (control) oil exploration in Mexico. The holdings of these two companies were nationalized in Mexico by Cardenas in 1938 when he created Petroleos Mexicanos (Pemex). They are now set to return to Mexico. Combined with the earlier passage of NAFTA and the control of much of the Mexican nation by drug cartels, this development supported by the PRI, the PAN, and the Green Party, and opposed only by the PRD, means a further destruction of Mexican sovereignty and devastation of the Mexican people.
The bill also removes all five representatives of the Pemex workers union from the company’s board.
As in the 1920s, the international banks, in particular, JP Morgan Chase & Co., played a crucial role in the decision on the part of the Mexican lower house. On Nov. 28, JP Morgan Chase & Co. issued a 28-page report supporting the legislation. What else they issued to win passage, one can guess.