The United States is concerned about the unfavorable climate for investments in the energy sector in Mexico, as the president implements the country’s plan.
The Office of the United States Trade Representative (USTR) expressed this interest Due to the deteriorating context of US investments in the energy sector in Mexico. The Office of the United States Trade Representative (USTR) also said that the US government is working to ensure fair treatment of its investors in Mexico and to ensure that the country complies with the terms of the USMCA, the North American Free Trade Agreement.
What’s happening in Mexico
In Mexico, President Andres Manuel Lopez Obrador, a left-wing nationalist, is implementing a plan to “cancel” the 2013 liberal reform aimed at returning the energy sector to state control and strengthening national companies: the oil company PEMEX and the electricity company CFE.
The last step in this direction was on March 26, when Lopez Obrador proposed to the Mexican Congress a law that would give the government the power to suspend oil permits in the event that threats to Mexican national security, energy or the economy emerged.
According to the president, previous administrations would have distorted the Mexican energy sector with the aim of favoring the interests of private and foreign companies.
What the United States says
Lopez Obrador’s rhetorical and concrete speeches not only annoyed the country’s main allies and trading partners, such as the United States and Canada, but also many European countries.
In its annual report, the Office of the United States Trade Representative (USTR) wrote that US energy companies operating in Mexico have complained of licensing delays, alleged discriminatory treatment, and a lack of transparency in regulatory changes.
The lithium question
Recently, we talk about the possibility of increasing the Mexican state’s presence in the sector of extracting lithium, a mineral used in the production of electric car batteries and energy storage and thus essential to emphasizing renewable sources and electric mobility. .
A senator from the same party as Lopez Obrador has proposed constitutional reform to nationalize Mexico’s lithium reserves.