Mexican Businesses Applaud Gas Caps
Mexican business leaders are applauding a decision by President Vicente Fox to cap natural gas prices at $4 per mmBTUs for the next three years.
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The business leaders say it would prevent an economic downturn and further job losses. The country has experienced a slow down in its steel, mining, glass and ceramic inudustries for several months. During that time, gas prices in Mexico have risen by 400 percent.
Such prices had been tied to market prices in Houston. The move has angered some American businessmen, who have called it anti-competitive.
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© 2012 Penton Media Inc.
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