Adrian Duhalt, research scholar at Columbia University’s Center on Global Energy Policy: “AMLO pledged to strengthen Pemex, but the set of measures implemented to achieve that has proven, time and again, to be both insufficient and inadequate, which has raised serious concerns about the government’s approach. Despite all the support provided, the company continues to report suboptimal financial and operating figures. AMLO prioritized crude oil production over building a more diversified portfolio to share risk. He chose—perhaps inadvertently—natural gas flaring over the environment or improving the environmental record of Pemex. He bet on producing more fuel oil and gasoline over enhancing cost-effectiveness in refining. He preferred to build a multi-billion oil refinery in his home state over allocating public resources to more profitable and impactful projects for the company and the sector at large. He opted for letting imports of industrial inputs grow over…”