After winning a landslide 53 percent of the vote on a platform focusing on major reform, incoming Mexican President Andres Manuel Lopez Obrador is already making headlines before he’s even entered the office. This week Lopez Obrador announced that his government will soon be pouring 75 billion pesos ($3.9 billion USD) of next year’s budget into oil extraction, specifying the allocation of his previously disclosed $16 billion investment plan for Mexican oil in 2019. The investment is part of a broader plan to rebuild Mexico’s long-waning oil output and bring an end to Pemex’s financial woes. The president elect said, in a statement on his website, that under his regime the government will “allocate budget resources” and “make an effort to adjust current spending in order to have more public spending and from the private sector.” In addition to the 75 billion pesos allocated to extraction, the government will […]