By Julie Etra
Pemex, short for Petroleos Mexicanos, is the state run supplier of petroleum products and by definition a monopoly. It is responsible for exploration, production, refinement and distribution.
Pemex has its origins in the United Kingdom when in 1919, Shell (Royal Dutch Shell, with headquarters at The Hague, Netherlands but registered in London with 60% Dutch ownership and 40% British) took control of the Mexican Eagle Petroleum Company and formed Shell-Mex Limited. As of 1935, oil companies were still under control of foreign owned companies who tried to prevent the formation of unions. Continue reading The Slippery Slope of Fuel
By Julie Etra
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