Mexico Braces for an Oil War

Angelic children stare at rolling waves as a deep voice booms out the wonders of petroleum. “Mexico has a great treasure, a treasure hidden below the bottom of the sea,” the narrator says soothingly above joyous music. “But the world now confronts a new reality.” Suddenly, the watcher is bombarded with graphics explaining deep sea drilling in terms fifth graders might understand; the oil is at a depth 30 times greater than Mexico’s highest building; the pressure is like 60 trucks weighing on a can of soda. As the music reaches a dramatic finale, the narrator hits the punch line as if in a preview for a blockbuster movie: “Reaching our oil is one of the biggest challenges of our time,” he says. “And Mexico has to take the necessary actions to achieve it.”
That five-minute spot being beamed out night after night on prime time TV is part of a campaign by President Felipe Calderon to sell foreigners a piece of Mexico’s most sacred cow: the state-owned oil monopoly. Tuesday marks 70 years since the country nationalized its oil fields that were drilled by U.S. and British companies, but Calderon wants to bring back foreign oil companies by allowing some private investment in the industry. And his proposal has sparked a debate whose pitch nears hysteria on all sides of the political spectrum: Conservatives scream that Mexico’s economy will collapse unless it takes action; while rabble-rousing leftists warn that a corrupt government wants to sell the nation’s patrimony to the gringos.

Time