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Mexico’s First Female President: A New Era for Energy Policy?
As President Andres Manuel Lopez Obrador (AMLO) steps down, speculation surrounds what changes Claudia Sheinbaum, Mexico’s first female president, will bring to the country’s energy sector. While Sheinbaum has pledged to follow her predecessor’s policies, many hope for a shift towards renewable alternatives.
With a PhD in energy engineering and experience as Environmental Secretary for Mexico City, Sheinbaum is well-versed in climate science. Her track record includes innovative projects such as electrifying bus fleets and developing rooftop solar projects. During her presidential campaign, she promised to invest $13.6 billion in renewable energy, including wind and solar farms, hydroelectricity, and aiming to boost production by 50% by 2030.
However, Sheinbaum also plans to support state-owned oil company Pemex, which has become increasingly indebted. Mexico’s energy sector faces tough decisions, as the country has a deep history with its oil industry but struggles with debt and health and safety concerns. Meanwhile, the renewable energy industry is underdeveloped despite significant potential.
Mexico signed the Paris Agreement and made ambitious climate pledges, including reducing GHG emissions by 35% by the end of the decade. However, President AMLO did little to achieve these targets during his time in government. Sheinbaum must contend with a major budget deficit and choose where to spend public funds carefully while balancing support for Pemex.
Despite challenges, there is huge potential for Mexico’s renewable energy industry, as well as greater collaboration with other world powers. As a climate scientist, Sheinbaum could play a key role in global climate action by developing Mexico as a major renewable energy hub in the Americas. Time will tell if she is dedicated to overcoming the challenges in Mexico’s energy market and strengthening energy security.
Sources: Oil Price
