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PEMEX To Face Sweeping Reforms

Mexican President Felipe Calderon has proposed sweeping reforms to its state-owned oil company Petroleos Mexicanos in order to make the company "stronger"

Mexican President Felipe Calderon has proposed sweeping reforms to its state-owned oil company Petroleos Mexicanos in order to make the company "stronger".

Many view his proposals as a threat to Mexican sovereignty and nothing more then an energy grab, but Calderon denies views that these reforms are concerned with privatization.

It is through NAFTA and the Security and Prosperity Partnership (SPP) that the U.S. is further securing access and control to Canadian and Mexican resources. Former presidential candidate, Andres Manuel Lopez Obrador, who lost to Calderon, is spearheading a movement to stop oil privatization and pushing for a referendum. Opponents of the reforms were able to force the Mexican Congress to hold a series of debates which ended on July 22.

There is a swell of national sentiment spreading across the country as the majority of Mexicans wish to retain control of one of their last symbols of sovereignty.