AMLO's Energy Policy: A New Era for Mexico's Power Sector
Andrés Manuel López Obrador (AMLO) is set to become Mexico's president on December 1st, with his energy policy being a critical factor in his term's success. AMLO campaigned on promises to halt the privatization of the energy sector and liberalization of energy prices. He has since announced that he will honor energy contracts, but not those tainted by corruption or contradictory to national interests.
AMLO's energy policy will significantly impact his presidency. He has banned fracking, which could affect exploration and exploitation contracts like the one signed with Energy Lewis in Campo Olmos. Meanwhile, Mexico has significant potential for renewable energy development, aiming for 35% renewable energy in electricity generation by 2024.
PEMEX, one of the world's fifteen largest oil companies and Mexico's biggest taxpayer, will play a crucial role in AMLO's energy policy. His government will be responsible for advancing energy reforms, including reviewing energy contracts, implementing the fracking ban, and establishing an incentive policy for renewable energies. However, AMLO has been cautious about aggressively promoting renewable energies, prioritizing the expansion of Mexico's oil and gas industry instead. This approach has raised questions about the feasibility of implementing sustainable energy reforms under his presidency, especially given the failure of previous attempts due to corruption cases.
The upcoming inauguration of the Mexican president signals a new parliamentary confrontation regarding sustainable energy reforms. Maximiliano Proaño has questioned the feasibility of implementing these reforms under the new president. AMLO's energy policy, which includes honoring energy contracts, banning fracking, and reviewing energy reforms, will significantly shape his term and Mexico's energy future.
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