Incoming President-elect Andres Manuel Lopez Obrador, or AMLO, has promised to invest around 175 billion pesos ($9.4 billion) into the state-owned energy companies. One of the goals is to reverse the decade and a half of declining oil production. “Fourteen years ago, oil production was 3.4 million barrels a day. Now it’s 1.9 million barrels a day,” AMLO said at a news conference. “In 14 years, we’ve lost 1.5 million barrels a day in production, a downward trend because the oil industry was abandoned.” The plan is a shaky one, perhaps because when it comes to the specifics, AMLO has only articulated a muddled notion of what he wants to do. Outgoing President Enrique Pena Nieto ended more than seven decades of state-run monopoly over Mexico’s energy sector, opening up the country to private control and investment from international companies. The bid to partially-privatize the energy sector has led […]