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AMLO’s Road Toward Energy Independence Is Full of Potholes

  • Mexico’s refineries are operating at 30 percent of capacity
  • Critics say protectionist stance will hurt the energy sector
The Port of Dos Bocas
The Port of Dos BocasPhotographer: Alejandro Cegarra/Bloomberg

In the tropical heat of southeastern Mexico, bulldozers prep the site of a massive new crude refinery on the outskirts of Paraiso, an impoverished oil town that’s never quite lived up to its name -- “Paradise.”

The Dos Bocas refinery is the new government’s flagship energy project, a 160 billion-peso ($7.8 billion) promise to create jobs, lower gasoline prices and jumpstart the country’s slumping refining industry.