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CSPAN2 Key Capitol Hill Hearings December 20, 2013

It it remains to be seen whether they are going to be safety case or performance standards or what kind of regulators they are going to be. Norway is another great example. Colombia has a terrific regulator. Those are other countries that have done this well. And on the fund, i think its pretty much only norway that has done this with the kind of political independence, fiscal independence that mexico has done. I think its worth spending a moments talk about the regulator. Thats the key element right now i think in this. The question a the lot of us have is we have a very small, underfunded commission at this point in time. And in a relatively short period of time, were expectings them to either find the Human Capital or resources in mexico or bring them in from outside. And thats the real danger, i think, here. And david said it very well. Is commission going to be allowed to recruit internationally . Will it have the resources to ....

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CSPAN2 Key Capitol Hill Hearings December 26, 2013

Budget. Thats the number in 2013. So what we are going to do in the future is that base of the budget coming from oil will remain constant. And the way that it will stabilize our finances. The mexican finances will not be suffering from lack of money. So we have a constant of 4. 7 . After we reach the 4. 7 the rest of the money goes into longterm savings. That, up to 3 of gdp. Once we reach 3 of gdp we put that in the bank. Then if we assume theres another dollar that comes additional to the first, it is defined in the following way. At least 40 of that new dollar goes again to the savings account. That means we increased the savings account until it is is reached from 3 up to 10 of the gdp. Every year we get at least 40 cents of each additional dollar back to states. This is very important because we are thinking of the future. Once we achieve that, the next step is up to 10 of the additional dollar will go to the universal pension fund. Agile, mexico is the creation of a universal pe ....

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CSPAN Key Capitol Hill Hearings December 21, 2013

Important Political Parties have proved their reform. It has over 20 state legislatures. I think that shows leadership. Now with the polls, it really depends, as in many important issues in public policy, what type of questions you ask. If you describe the benefits of reform of this type, the majority of the feel that are in favor of paying lower costs in electricity or gas. If you want to privatize pemex, you have a high response of no. But this reform is not pemex. Its natural gas in mexico and that will decrease the costs of electricity through the process that we have discussed before. So i believe that this reform as it evolves it will show the benefits to the mexican people. We have also been very careful following the instruction of the president not to establish a timeline that its not going to be achievable. We believe that as david describes accurately that its going to take time. And the constitutional reform establi ....

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CSPAN Washington This Week December 21, 2013

, it is a selfregulatory institutions regarding those. Opics that they have to make a report to the ministry of energy. It will have the participation of the ministry of energy. The usmexico transboundary agreement cleared because of the budget deal. While is at the state department, we thought that would be the first baby step to cooperate with mexico on safety in the gulf of mexico. We have certainly learned a lot about safety at least in the deep water as oil spill prevention, itll still mechanisms. Oil spill mechanisms. We will have some bilateral hemispheric cooperation. Want to underscore that process is already in place and that process already has been in place for this energy reform. There is great cooperation between the u. S. And mexican coast guard. In theas cooperation u. S. State department and u. S. Coast guard. Was a said there meeting in tampa where mexican officials and u. S. Coast guard officials were there. The process is in place. What i wanted to underscore and th ....

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CSPAN Key Capitol Hill Hearings December 19, 2013

Household also depreciates of the steady state of the Housing Production to 1. 6 million homes in here. How we will get from 900,000 to 1. 6 million in the next year, think we will over the next year but if you look at the fundamentals of the Housing Market in the demography that ultimately drives the plus the fact that housing is relatively affordable if you look at the affordability indexes and take into account housing i think thats an area where theres a lot of potential and upside still. [inaudible] the translation is Interest Rates affect the economy but if you look more fundamentally at the driver, the ways in which it matters you seethe Business Investment is relatively slow over the past year. That is the things that hasnt been as good in the econo ....

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