Word: pemex
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Where it can, Mexico also gives Castro's Cubans as little rope as possible. The Mexican government keeps a watchful eye on Castro's diplomats, grants very few visas to Cubans, either pro-or anti-Castro. Pemex, the state oil monopoly, turned down a Cuban request for technicians to help operate the refineries that Castro had seized from U.S. companies...
...anyone in the market for their wares, which can be either adulation or silence. Among the buyers are minor government officials, politicians and industrialists. The national railroads are steady customers, happy to pay for the privilege of keeping minor train wrecks out of the news; press faultfinding with Pemex rose sharply after the state-owned oil company dropped its annual reporters' subsidy of 9,000,000 pesos...
...important post, Lopez Mateos reached outside the Ruiz Cortines ranks; Pascual Gutierrez Roldan, 55, replaced Antonio J. Bermudez as director of the government oil company (Pemex). A conservative businessman who ran up handsome profits as director general of the country's largest steel producer, Altos Hornos, he will no doubt try to cut down waste and featherbedding at Pemex...
Rational Nationalism. López Mateos' main problem in keeping the Mexican boom going is that of any nation with mixed-capital enterprise. Which comes first-enterprise or the welfare state? An example is Pemex, Mexico's government oil company. Subsidized Pemex proudly proclaims itself "in the service of the nation," fulfills the proclamation by keeping prices of its products artificially low and supporting a welter of government social services. As a result, it makes little profit to plow back into development and into the establishment of a much-needed petrochemical industry...
Lately, many Mexicans have been demanding that Pemex be run as a business, with normal profits for reinvestment in development. But López Mateos is almost forced by his natural nationalistic inclination to keep the state paramount and Pemex its old, slow-moving self. He might also be inclined...