It was about time , I totally understand the people of Mexico being afraid of being robbed by corporate companies. but Mexico has changed since the times of PRI , and Mexico needs foreign investment in order to get that oil and maintain its growth that it so badly is needed.

bloomberg.com: Mexican President Felipe Calderon said he will meet with the heads of major energy companies at the World Economic Forum in Davos, as Mexico prepares to offer the first oil exploration contracts to foreign companies in 70 years.

Calderon has also scheduled meetings with Nestle SA and PepsiCo Inc. at the forum in Switzerland this week, according to a transcript of a press conference he gave in Davos today. Calderon didn’t say which energy companies he plans to meet.

Mexico’s Congress approved a law in October that allows state-owned oil company Petroleos Mexicanos to hire private and foreign companies to explore for crude in Mexico. The country had prohibited foreign oil companies since Pemex, as the Mexico City- based company is known, was formed in 1938 from the expropriated assets of Chevron Corp. and Exxon Mobil Corp. [bloomberg.com]