Today’s historic vote in the Mexican Congress opening the country's state-run oil industry to outside investors for the first time in 70 years was preceded by passionate debate, fisticuffs - and one legislator’s striptease.
While the politicians argue that the oil "is ours", citizens are getting disillusioned:
“I laugh when I hear those arguments, ‘it’s our oil,’ ” said Enrique Sánchez, an engineer for a Pemex contractor. “I am still waiting for my payment.”
“The rich will get richer,” said José Luis Gutiérrez, an oil platform welder preparing for a 14-day shift at sea. “It is our pride, our heritage, but up to now, the poor are still poor.”(NYT)
This video shows why it is important for citizens to demand dividends from their countries' oil wealth. The idea is applicable to all other commonly-owned properties, whether sovereign wealth fund, gold mine, diamond mine, wireless channels, water or land.
However, it should not be up to the politicians' good grace to throw out some miserly amount. Citizens own 100% of that pot of revenue. 100% should be returned to citizens.
