I looked up in the dictionary of the Royal Spanish Academy which adjective is the most appropriate to indicate a economic situation like that of Mexican state oil monopolyand the term marked me chaoswhose main synonyms are: disorder, chaos, abuse and excess.
PEMEX is the most indebted oil company in the worldowes 106.8 billion dollars.
The government of BRUNETTE is not the only one in which it generates PEMEX lossesbut if when they increased the most.
From 2013 to 2018, PEMEX lost 12 dollars for each barrel of oil, from 2019 to September 2023, 32.2 dollars, losses 168.3% higher that in the previous government.
From 2019 to the first quarter of 2024 PEMEX received 1.75 billion pesos (IMCO) via direct support from the federal government.
PEMEX is a costly burden for Mexicans. It does not contribute even 5 cents net to the finances of the government, which almost completely reduced the payment of taxeswhich are much smaller than the billions transferred by the government to that monopoly to cover its losses and debts. From 2019 to 2022, PEMEX lost $31.5 billion and received subsidies equivalent to 4% of GDP.
It sells more expensive and lower octane gasoline than private oil companies in the US that make money.
From 2019 to 2023, the Secretariat of Welfare and Pensions for older adults, whose main function is to help the poor, spent 1,243.9 million pesos, an amount less than what PEMEX received for losses and subsidies in the same years: 1,397.9 million pesos .
In 2023, PEMEX imported more petroleum products, including gasoline, for 51,754 million dollars, greater than its exports, 33,218. Its deficit in the Trade Balance was 18,336 million.
According to data from the Superior Audit of the Federation in PEMEX By 2022 there were 799 million pesos without a clear destination.
The rating agency Moody’s, after analyzing its economic situation, lowered its rating from B1 to B3. Means more risk of not paying your debts and fall into insolvency.
The state oil company does not help Mexicans, it impoverishes them, it does not guarantee our sovereignty, it reduces it.
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#PEMEX #MORENAs #mess
