This is CBS. I am the world. I'm John Batchler. Mexico, Amlowe, the popular and very powerful

president of Mexico. And Pemex, the Gulf of Mexico, oil wells are a stark reminder of what

Pemex was once upon a time. And now I learned from Marianna Stasio Grady, the America's

alumnus and editor at the Wall Street Journal editorial page that Amlowe's opinion of how

Pemex should work is not at all in line with how the 21st century uses investment, outside

investment for an investment bonds in order to gain, say, the best possible from energy

income. Mary, a very good even to you. Pemex, my memory of your lessons to me about Pemex

is that it is limited in what it can reach in the Gulf, how deep it can go, because it has

not upgraded its technology. And in addition, there's always the question of foreign investment,

outside investment, private investment coming into bring up the technology of Pemex. Recently

they've had an accident. It cut badly into their oil production during the, during the

critical months that Mexico must pay for everything. And now I learned from your column that

Amlowe has responded, but oddly, how is, what is Amlowe's opinion of Pemex and how it should

be upgraded? Good evening to you. Well, good evening, John. Yeah, Pemex is obviously a

state-owned company that was at one time a symbol of Mexican nationalism and strength. And

that's because Mexico sits on quite a good number of oil reserves. So if those reserves

can be brought up, they're going to create wealth in Mexico. And that's going to be good

for the overall economy. The problem is that Pemex was a monopoly for many, many years

in 2014. Well, in 2013, there was a rule, a law, an amendment to the constitution pass that

allowed for foreign investors to come in and exploit some of that oil. Now, in Amlowe's mind,

in the president's mind, that means that Mexico is somehow giving away oil to private investors.

But of course, if private investors come into Mexico, make the investment, bring the oil up

...