Within a few months, Mexico will have a new President. With the incumbent Enrique Peña Nieto barred from running, the most likely winner is Andrés Manuel López Obrador, leading his newly created National Regeneration Movement (MORENA) to a long-sought victory. Obrador, or AMLO as he is most often abbreviated, started his career in the Institutional Revolutionary Party (PRI) which dominated Mexico’s 20 th century politics and continues to be a leading force in the 21 st , became the leading voice against the PRI and after two unsuccessful attempts he is on the brink of a breakthrough. This is especially pertinent in view of Mexico’s opening up of its upstream sector to foreign investment which AMLO has promised to wind back. But just how far can he go? To put the stakes in perspective, one has to look at the history of Mexico’s oil industry. Following a 1938 nationalization […]