After regaining office in December 2012, the PRI party carries out the single biggest change to the Mexican Constitution in 70 years with the 2013 Mexican Energy Reform. In some ways, the 2013 Reform is simple to describe because it was so radical. But it seems destined to fall short of its proponents' wildest claims and of the oil industry's already modest expectations. Here's the 3 biggest challenges still standing in the way of the success of the Mexican Energy Reform...and the 4 things they got REALLY right.Recommended listening: John Moody's "Mexico Explained" Podcast (https://itunes.apple.com/us/podcast/mexico-explained/id1027184141?mt=2)

10 - The Mexican Energy Reform

Mexico's experience with oil contrasts sharply to the development of the same resource from the same formations in the United States, and it illustrates the most salient cultural, political, and historical differences between the two countries. "El Petroleo es Nuestro" uses the history of oil in Mexico to tell the story of the development of modern Mexico and its national institutions. Remastered and re-released for 2018!

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Porfirio Diaz, Standard Oil, Weetman Pearson (El Aguila), Edward Doheny (La Huasteca), and gushers! Suggested reading: Jonathan C. Brown, "Oil and Revolution in Mexico." Link here: http://tinyurl.com/zvermpa 

01 - The Oilfinders

The oil companies withdraw from Mexican society as Revolution ravages the country. As Post-Revolutionary governments reassert control over the country, they go to battle with the oil companies over the validity of their holdings and soon find allies in the incipient Oilworkers Movement.Suggested reading: Mariano Azuela, "Los De Abajo: Novela De La Revolución Mexicana."Link here: http://tinyurl.com/hoxltbd

02 - Revolución

On March 18, 1938, Mexican President Lazaro Cardenas expropriated the properties of the American, English, and Dutch oil companies operating in Mexico. Was this the ideological act of a political radical? Or a calculated piece of realpolitik that united the Mexican business class with the socialist labor movement to forge the coalition that would rule Mexico for the next sixty years?Suggested reading: Jonathan C. Brown and Alan Knight, "The Mexican Petroleum Industry in the Twentieth Century."

03 - The Expropriation

Antonio J. Bermudez assumes the Directorship of PEMEX and makes it the animal we have come to know and love. PEMEX truly becomes an oil company, making critical downstream investments and finally surpassing pre-Expropriation activity. But hints at her future struggles appear even as the great Petrolera achieves her first successes.Suggested reading: Antonio J. Bermúdez, "Doce Años al Servicio de la Industria Petrolera Mexicana, 1947-1958."

04 - The Golden Age of Pemex

In this episode, we struggle to make sense of PEMEX's adolescent period. Great measures - such as the formation of the Instituto Mexicano de Petroleo - are taken which will yield fantastic results a decade later. But disturbing patterns begin to emerge as other Mexican institutions come to rely on PEMEX's spectacular wealth to advance their own agendas.

10 - The Mexican Energy Reform

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