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August 12, 2013 6:58 PM

Mexico unveils plan to open energy sector to competition

President Enrique Pena Nieto began selling his proposal to a reluctant nation by saying the move would lower electricity costs, create jobs and revive Mexico’s status as a global energy power. Flanked by much of his Cabinet, Pena Nieto said the plan would revitalize the oil and gas industry without selling out the giant state oil company to foreign interests.

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