Nieto's problem — how to fix Pemex

Task: Mexican President Enrique Pena Nieto

AP/SCANPIX

By Tom Darin Liskey Houston

 06 December 2012 23:59 GMT

Newly sworn-in President Enrique Pena Nieto is stoking expectations that his administration will finally capture what has been the bridge too far for backers of energy reform in Mexico’s Congress.

Yet the Institutional Revolutionary Party’s (PRI) first president in more than a decade is facing some harsh realities — and towering challenges — in following through on his electoral pledge to secure far-reaching reform to breathe new life into the struggling Pemex-controlled oil sector.

“It is going to be a tough task for the PRI,” says Carlos Ramirez at the Eurasia Group.

“The party will have to build support for it in Congress.”

By all accounts, Pena Nieto is signalling that he will maintain oil reform as the keystone in the economic edifice his…

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