Editorial: Latin American leadership

Leadership makes a difference. Between Latin America's two most important oil producers, the difference is stark.In Mexico, enlightened leadership has raised hope for an overburdened and isolated oil and gas producing industry and, by extension, a chronically underperforming economy. In Venezuela, populist despotism is running the producing industry and economy aground.Mexico's fresh leadership comes from President Vicente Fox, inaugurated Dec. 1, 2000, as the first Mexican chief executive in 71 years not from the corrupt Institutional Revolutionary Party (PRI). Fox took power hoping to modernize Mexican institutions, including the state-owned oil and gas industry. Opposition from...

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