Obrador Wins in Mexico

It wasn't a surprise but what next for Mexico's oil industry? Last I heard Obrador had softened his stance on private investment in oil.

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I really think that people are getting a bit worked up about Obrador without having bothered to profile him much or put much thought into it. I don't expect anything drastic to come out of this. He's got some overly ambitious goals that will die along with the bulk of election campaign promises as a universal truth. I think he's largely pragmatic and we should't allow ourselves to become consumed by the fact that he's "leftist". Some oil companies will be a bit nervous because the main part of his campaign was anti-corruption, so some contracts might end up being 'reviewed'. Or they might not. A lot of the old guard is sticking around ....

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Chavez in Venezuela started with a soft stance towards IOC's when he was assuming power and look what happened and what has Venezuela gotten into??? But one thing i think will put a slight break against Obrador potential leftist moves is Mexico's high dependence on U.S. trade and political and geopolitical relations, although this might serve importantly to China to roar right close to Washington's ears as Obrador starts displacing Washington as mexican most important trade partners and especially in the oil sector where chinese oil companies i believe have been positioning importantly there. Next months will be crucial to tell how will Obrador maneuver. 

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It would be a huge mistake for Mexico to roll back the oil industry reforms. PEMEX is/was bloated and inefficient and needed competition. Private investment is already flooding into the country, it would be a mistake to turn off that tap now.

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Let's hope then he is as pragmatic as TraderTate says.

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