How Mexico's T-MEC Energy Policy is Defying Doubters
Despite initial skepticism, Mexico's energy policy within the T-MEC framework has strengthened, with a focus on energy security and a transition to clean energy. Sovereignty remains a priority amid challenges and foreign influence, paving the way for a resilient and sustainable future.
The energy landscape within the framework of the Treaty between Mexico, the United States, and Canada (T-MEC) has not been without its differences and conflicts. However, Arturo Ortiz Wadgymar, coordinator of the World Economy Research Unit at UNAM's Institute of Economic Research, asserts that these challenges have served to strengthen Mexico's energy policy. Contrary to doomsday predictions, Mexico is now poised for energy self-sufficiency, thanks to a resilient approach that prioritizes the stability of state-owned enterprises like Petróleos Mexicanos (Pemex) and the Federal Electricity Commission (CFE).
The journey towards a robust energy policy was not without hurdles. In 2019, when Mexico unveiled its energy policy, skeptics were quick to dismiss it as untenable. Pemex, burdened with an overwhelming debt of over $100 billion, was seen as a sinking ship. Critics argued that the strategy was doomed to fail, predicting a world where gasoline consumption would plummet within six years.
