1. Venezuela: the girl can't help it! Hugo, the serial nationalizer has done it again. On top of his recent announcement of nationalization of the cement industry, he is now going to nationalize the main steel producer in the country, which is an Argentine firm. These nationalizations are well beyond screwing with the USA as now firms of neutral (Mexico) and allied (Argentina) countries are being targeted. Predictably but sadly, these action are touted as the way to reduce shortages and lower prices domestically.
2. Ecuador: Standin' on shaky ground. President Correa's campaign to bring the military under his control has hit a very rough patch.
3. Cuba: Be it ever so humble. "Thousands of Cubans will be able to get title to state-owned homes under regulations published Friday, a step that could lay the groundwork for broader housing reform. The measure was the first legal decree formally published since Raúl Castro succeeded his brother Fidel as president in February. It came a day after state television said the government would also do away with wage limits, allowing state employees to earn as much they can as an incentive to productivity. The housing decree spells out rules to let Cubans renting from their state employers keep their apartment or house after leaving their jobs. They could gain title and even pass it on to their children or other relatives. Those who could take advantage of the new law include military families, sugar workers, construction workers, teachers and doctors."
Wow that sounds cool. Any fine print??
By law, Cubans still are not permitted to sell their homes to anyone but the government, though they may swap housing with government approval — a process that can take years.
ouch!
4. Mexico: Little by little. President Calderon has introduced legislation that shine a little light into the black hole that is PEMEX. "But the limited measures effectively ended any expectation that Mexico would soon take steps to open important parts of its energy industry. With one of the world’s most protected energy sectors, Mexico is the third most important supplier of crude oil to the United States. But production by the state-run oil company, Petróleos Mexicanos, or Pemex, has fallen more than 10 percent since reaching a peak in 2004. Crude oil exports, too, have begun to slide. Pemex has failed to invest enough in exploration or refining, and pipelines and storage facilities have deteriorated. Mexico now imports 40 percent of its gasoline. Analysts predicted that the proposed legislation would do little to change all that. “They are maybe taking 50 tiny steps in the right direction,” said David Shields, an analyst based here who writes extensively on Pemex. “That’s better than nothing, but it’s not much better than nothing.”
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