Deer Park, great business for two conflicting visions

If you see that these days huge flower arrangements with tulips arrive at the National Palace and the Petróleos Mexicanos tower, you can be sure that they are sent by the Royal Dutch Shell company which, thanks to the political decision of Q4 to maintain its commitment to fossil fuels, managed to get rid of a refinery and thus be able to comply with a court order to bet on clean energy.

The world in which Mexico operates in its business, both North America and the countries of the European Union, has marked a clear route towards clean and renewable energies. They do it out of conviction, but also out of the urgency that the planet is at risk from global warming.

And they take it seriously because they know that the planet is at risk from the increase in global temperature.

As part of those actual actions, not speech, a court in The Hague ruled that the Netherlands company, Shell, must reduce its CO2 emissions by 45% by 2030.

For this reason, now that the United States Department of the Treasury has informed Mexico that the sale of the share package that Shell held in the Texan Deer Park refinery is now authorized, the Dutch are celebrating because they advance in their goals of changing their investment schemes. fossil fuels to clean energy, as required by authority and needed by the planet.

And the party is big, because not only did they get a very good price for 50,005% of the shares of this refinery in which they were already associated with Pemex, but also the Ministry of Finance will disburse whatever it takes to pay the debts, as confessed Octavio Romero, the agronomist director of Petróleos Mexicanos.

And it is that, among those who do live in the 21st century, today it is very difficult to put up for sale an industrial plant that is dedicated to manufacturing fuels that the world rejects so rapidly.

There are other refineries that Shell is on the verge of shutting down, unable to find unsuspecting nineteenth-century-thinking buyers.

The conscious and modern world is in the dilemma of how to reduce the demand for fossil fuels, not in the political plans to increase the supply of gasoline as if we were in the midst of the 70s of the last century.

Even López Obrador’s dream of self-sufficiency will not be fulfilled because Deer Park had a prepandemic gasoline production of 142,000 barrels per day. But it must be taken into account that, despite the sale, there are fuel delivery contracts in the local market that are still in force.

The importation of gasoline in 2019, to make the figure comparable, was 600,000 barrels per day, so there would be some 450,000 barrels per day of gasoline that not even in the most quadrotheistic dream could be covered with the supposed production of Dos Bocas and the reconfigured refineries . So the longed-for self-sufficiency that the President wants is far off.

Good business for the Dutch, good business for Mexico thanks to the fact that both parties are going in opposite directions.

In contradiction

The selling part

A court in The Hague ruled that Shell must reduce its CO2 emissions by 45% by 2030.

Commitments

The Secretary of the Treasury will disburse whatever is necessary to pay the debts of the Texas Deer Park refinery.

Production

Deer Park had a pre-pandemic gasoline production of 142,000 barrels per day; Mexico imported 600,000 barrels in 2019.

[email protected]

Enrique Campos Suarez

Host of Televisa Newscasts

The great Depression

Graduated in Communication Sciences from the National Autonomous University of Mexico, with a specialty in finance from the Autonomous Technological Institute of Mexico and a master’s degree in Journalism from the Anáhuac University.

His professional career has been dedicated to different media. He is currently a columnist for the newspaper El Economista and a host of newscasts on Televisa. He is the owner of the 2:00 pm news space on Foro TV.

He is a specialist in economic-financial matters with more than 25 years of experience as a commentator and host on radio and television. He has been part of companies such as Radio Programs of Mexico, where he participated in the VIP business radio. He was also part of the management and talent team of Radio Fórmula.



Reference-www.eleconomista.com.mx

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