News Article

Rules out Electricity Nationalization / MX$84.33 Billion Savings

By Ricardo Guzman | Wed, 05/20/2020 - 12:20

Rules out nationalization of electricity. President López Obrador said his administration is not looking to nationalize the electricity industry, but to bring order to it and protect the best interests of the Mexican people. “It is not statism,” he said. The president highlighted the importance of two historic decisions that redirected Mexico’s public life: the oil expropriation in 1938 by President Lázaro Cárdenas “because oil companies felt they owned Mexico,” and President Adolfo López Mateos’ nationalizing the electricity industry in 1960. The president lamented that now there is a campaign in famous newspapers abroad based on what he called falsehoods about his real intentions. “We are ending corruption that existed in CFE,” he said.

MX$84.33 billion savings in huachicoleo. Minister of Security (SSPC) Alfonso Durazo said the fight against fuel theft (huachicoleo) has led to savings of MX$84.33 billion since Dec. 21, 2018 until May 12, 2020. He detailed that the average amount of looting at the start of the López Obrador administration was 81,000 barrels per day, and now it has plunged to 5,000 and even recording 2,000 barrels on some days. “Imagine the criminal structure required to manage 81,000 barrels per day,” he said during his monthly security report. Durazo also pointed out that there had been a slight reduction in the number of homicides, femicides and kidnappings.

Sánchez Cordero laments patriarchal system. Mexico has a patriarchal system and violence against women must be acknowledged, Minister of Interior (Segob) Olga Sánchez Cordero said. “We have a patriarchal system, and of course, there is machismo. We have to recognize that there is violence on many occasions against women,” she said and detailed the coordination between federal institutions to face this problem. In this regard, President López Obrador said his adversaries want to confront him with the feminist movement. “We protect women out of conviction. Unlike conservatives, we have principles and we are humanists,” he said.

Virtual starting flag for Maya Train works. President López Obrador said that if the health authorities do not allow him to travel, he will drop “a virtual starting flag” for the Maya Train works during one of his morning daily briefings. The president reiterated that if companies working on the railway project do not comply with agreed dates or budgets, then their names will be disclosed and they will not receive any further contracts from his administration. For those who comply with the terms for one of the administration’s flagship projects, “their names will be written on the commemorative plaque.”



Click HERE for full transcript in Spanish

Ricardo Guzman Ricardo Guzman Editor