Mexico greenlights fracking
Sheinbaum promises to have her cake and eat it too via “eco-friendly fracking.”
The Big News Breakdown. Unpacking this week’s most important news.
Mexico had placed the noose of natural gas dependency around its neck long before conflict with Iran strangled global hydrocarbon supplies. The country generates most of its electricity by burning natural gas, of which 75% is imported from the United States. The age of economic warfare must have had an effect on Claudia Sheinbaum’s government because last week the president announced that Mexico would now allow fracking.
It is a substantial—and rare—U-turn from her own and her predecessor’s policy.
Sheinbaum officials had been mulling the move for some time now, so the green light wasn’t all too surprising. What did raise eyebrows was how the Mexican government will try to square all of its aims.
When it comes to fracking, Sheinbaum said she intends to:
