Last week, Mexicans took to the streets to riot, loot, and blockade streets to protest the government’s January 1st announcement they would raise maximum oil prices by 20%. The move is the first of many steps to deregulate Mexico’s energy sector. Dependent on gasoline imports, policymakers expect the decrease in subsidies will attract foreign investment and increase competition against the state-controlled oil company, Pemex. But it appeared the government was unprepared for the widespread contempt.
