Mexico bills allows privatization of oil

This article from chron.com Deals lag, as does Mexico's oil output deals with Mexico not being able to access most of its oil in the Gulf of Mexico because the company Pemex doesn't have the technology for exploration. A recently passed bill will allow Pemex to make deals with foreign companies for oil exploration. This is a big deal, because oil in Mexico was previously state operated. But so far, Pemex hasn't made any deals, so oil production has slumped.

As a country that is seeking democratization, this bill is very important. The privatization of this market will allow the people of Mexico to benefit more from their natural resources since they will be able to get to them. This article also shows that reform in Mexico is slow and has much resistance, since the passing of this bill still has not allowed Pemex to access the oil