Energy Privatized: The Ultimate Neoliberal Triumph

James Cypher

On December 21, 2013 Mexico’s president, Enrique Peña Nieto, gave the official decree ending the 75-year history of the national oil company, PEMEX, which coincided with the privatization of Mexico’s electrical generating and distribution system. The geopolitical implications may be sweeping, with the NAFTA bloc quickly becoming the globe’s most important energy power. For roughly a quarter-million employees, the likelihood of massive layoffs and benefits cuts is unknown, but widely anticipated.

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