Mxe june july 2015 single ok by Mexico Energy

INVESTMENT OPPORTUNITIES IN THE NEW ERA

Bush Rising

AN INTERVIEW WITH GEORGE P. BUSH TEXAS LAND COMMISSIONER

MEXICO’S ENERGY REFORM: BRIDGING THE SKILLS GAP

DRYLET – CONTRIBUTING TO A CLEANER ENVIRONMENT Vol. 2 No. 3 June - July 2015

LETTER FROM THE EDITOR

I’m sure our readers are as eager as I am for the arrival of July 15, the historic day when Mexico’s Hydrocarbons Commission (CNH) is set to announce the winners of the first phase of Round One oil and gas auction. The initial 14 blocks will be awarded in the first of five phases of Round One, which comprises a total of 169 onshore and offshore blocks. For the June/July edition, we report on a wide variety of topics that share one thing in common: their contribution to a promising and bright future for Mexico’s newly-open energy sector. We begin with coverage of Petroleo & Energia’s 6th forum, Mexico – Energy in Movement. P&E is Mexico Energy and Business Magazine’s sister publication and we congratulate the magazine in hosting such a wonderful and interesting forum. Milton Mendez, editor-in-chief, gathered top leaders in the industry to talk about the opportunities and challenges facing Mexico’s energy industry. For our feature story, we present Bush Rising, a one-of-a-kind interview with George P. Bush conducted by Jorge Ferráez, publisher of Ferraez Publications of America, and written by Joseph Treviño, editor-in-chief of Latino Leaders magazine. The Texas Land Commissioner talks about his job, service to his country, family values, belonging to one of America’s great political lineages and yes, the Mexican Energy Reform and its promising relation to Texas. In other coverage, I recently visited San Diego and attended the XXIV La Jolla 2015 Energy Conference, organized by the Institute of the Americas. I definitely enjoyed my stay in that city by the ocean and had the opportunity to visit family and friends. In an interview with Jeremy Martin, director of the Institute’s energy program, he shares his views on energy, his passion for Latin America and his thoughts on energy as a long-term business. The lack of specialized workers and technicians in Mexico could slow down the country’s energy-growing potential. In order to overcome this problem, Rebecca O’Connor and Lisa Viscidi from The Dialogue present an energy policy brief that tackles this issue and gives recommendations on what the country should do in order to reduce the skills gap. I truly believe that after CNH’s July 15 announcement, the news, the players and the dynamism of a new era in Mexico’s energy sector will enrich Mexico Energy’s editorial line and content. Congratulations to all!

MAGAZINE VOLUME 13 JUNE / JULY 2015 Publishers

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Reporters

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Editor in Chief Co-editor

Translations:

Art and Design

Administration Treasury Circulation/Distribution Sales Sales and Public Relations Sales and Advertising

Director Operations Sistems Public Relations Auditions Distribution

Raúl Ferráez & Jorge Ferráez José Manuel Escobedo

Arturo Gutiérrez E., José Manuel Escobedo Reachi and Joseph Treviño

Gamaliel Méndez García

Milton Méndez Hugo Hernández Ramos

Pamela Rogers

Fernando Izquierdo Romero Rodrigo Valderrama Viveros Carlos Cuevas Martínez Luis Enrique González Piceno Christina Bacon Claudia Garcia Bejarano Carlos Anchondo Gabriel Torres Origel Javier Senderos Francisco Abad Carlos Pozos

Diego Amauri Plaza Alex Prida Miguel Ángel Muñoz Karen Arriaga Iván Castelán Raúl Hernández DALLAS

15443 Knoll Trail, Suite 210, 75248 Dallas, TX, USA Tel: (214) 206-4966 Fax: (214) 206-4970 MÉXICO Insurgentes Sur 1898 Siglum 12, Col. Florida. Delegación Álvaro Obregón C.P. 01020, México D.F. Tel. 91365100 NEW YORK

Sincerely, José Manuel Escobedo Reachi Managing Editor jescobedo@latinoleaders.com (214)- 206-4966 ext. 227

MEXICO ENERGY AND BUSINESS

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4 Lexington Ave. Suite 1A New York, NY 10010 Tel: 646-641-5068

CIRCULACIÓN CERTIFICADA POR EL INSTITUTO VERIFICADOR DE MEDIOS Registro No. 248/02

INDEX JUNE / JULY 2015

06 MEXICO – ENERGY IN MOVEMENT The 6th forum titled, “Mexico - Energy in Movement,” which is organized by Petróleo & Energía magazine, gathered the main players of the energy industry in a research and study setting to talk about the implementation of the Energy Reform, its development and benefits both in short and long term phases.

14 JEREMY MARTIN TALKS ENERGY

For more than 30 years, the Institute of the Americas has played an active role in U.S.-Latin America cooperation, while strengthening ties with the public and private sectors, non-profit leaders and academia. The Institute encourages economic and social development in the region. Jeremy Martin, director of its energy program, shares his views about the Institute’s main objective, his passion for energy and Latin America, Mexico’s new energy shift, and highlights the XXIV La Jolla 2015 Energy Conference’s main discourse.

22 BUSH RISING In this exclusive interview, George P. Bush, Texas Land Commissioner, talks about service to his country, family values and belonging to one of Americas’ greatest political lineages.

32 MEXICO’S ENERGY REFORM: BRIDGING THE SKILLS GAP Now that the Energy Reform is in full effect, and billions of dollars in private and foreign investment are expected to increase Mexico’s economy growth by 1% by 2018 and 2% by 2025, there is one factor that could slow down this pace, and that is the lack of workers with technical skills. In this energy policy brief, Rebecca O’Connor and Lisa Viscidi from The Dialogue give recommendations on what the country should do in order to reduce the skills gap.

48 DRYLET – CONTRIBUTING TO A CLEANER MEXICO Ramiro Treviño, Chief Executive Officer and founder of DryLet, tells Mexico Energy and Business Magazine about BioRemediation solutions, as well as some of the projects the company is involved in Mexico

June / July 2015 Mxe Mexico Energy and Business Magazine

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Arturo Gutiérrez E.

Gamaliel Méndez García

June / July 2015 Mxe Mexico Energy and Business Magazine

JORGE FERRÁEZ, PRESIDENT OF FERRAEZ PUBLICATIONS OF AMERICA, SPOKE ABOUT THE IMPORTANCE OF MEXICO’S ENERGY SECTOR.

Mexico - Energy in Movement

he need to come up with a strategy around the Energy Reform arose in discussions during the 6th Petróleo & Energía Forum. The forum’s discussion was on the renewed national energy scene, prompted by new regulations. The 6th forum titled, “Mexico - Energy in Movement,” which is organized by Petroleo & Energia magazine, a specialty publication, gathered the main players of the energy industry in a research and study setting to talk about the implementation of the Energy Reform, its development and benefits both in short and long term phases. During the event, which took place in the St.Regis Hotel in Mexico City, which is the headquarters of Potentia, a private business club, the almost 300 attendees listened to experts who spoke of diverse themes with titles like “New technologies in the energy industry,”

“Efficient energy: an alternative to the national economy growth” and “The impact of the Energy Reform in Mexico: Human talent and the balance of the strategy of short and long term businesses.” During the event, Jorge Ferráez president of Ferráez Communications, highlighted the importance of being able to have these type of forums to be able to talk about the future of the energy sector and the possibility that Mexico has for developing new and more efficient technologies, capable of bringing a bigger dynamism to the national economic scene.

SPEAKERS DURING THE “NEW TECHNOLOGIES IN THE ENERGY INDUSTRY” PANEL.

June / July 2015 Mxe Mexico Energy and Business Magazine

REPRESENTATIVES FROM ORACLE MÉXICO; CIUDAD POSIBLE; AND ABB MÉXICO, ATTENDED THE FORUM.

EDUARDO NÚÑEZ

THE DISCUSSION HONED IN ON THE URGENT NEED TO BOOST ENERGY PRODUCTION THROUGH ALTERNATIVE MEANS, BECAUSE FOSSIL FUELS WOULD BE DEPLETED “SOONER OR LATER”. In the first table of analysis, the panelists agreed that one of the key tools for the evolution of the energy industry is the correct and efficient application of new technologies. They underscored that the automation fixtures in the exploration process and production makes any project more cost effective. Marco Vera, Regional Director of Thermal Generation for Latin America and the Caribbean of GE Power & Plant, Ricardo López, director of Automation Fixtures of ABB Process in Mexico division and Ricardo Cuenca, an architect of Solution Oil & Gas Oracle of Mexico, took part in the “New technologies in the energy industry” panel. The “Energy Efficiency: an alternative to economic growth” panel gathered figures like José Luis Luegue Tamargo, president of Ciudad Posible Association, Alberto Valdés, president of the National Solar Energy Association (ANES), Jesús Valdés Días de Villegas, a research fellow and professor of Universidad Iberoamericana (UIA) and Alfredo Calderón Boni, who is the head of Technical Assistance of NOVIDESA. The discussion honed in on the urgent need to boost energy production through alternative means, because fossil fuels would be depleted “sooner or later.” Luege Tamargo, former director of the National Commission for Water (Conagua), warned that everyone talks about the energy sector when one of the means of generating energy, water, will dry up and no one is proposing solutions.

SECCIÓN

Escritor

Fotografo

JORDY HERRERA, ENERGY CONSULTANT FOR FRACTAL CONSULTORES.

June / July 2015 Mxe Mexico Energy and Business Magazine

Jordy Herrera, a specialist from Energy Fractal Consultants (Energía de Fractal Consultores), Eduardo Núñez, co-founder of Núñez Rodríguez Attorneys and Fernando Fernández de Cordova, CEO of Shore Consulting Group, ratified during the “The impact of the Energy Reform in Mexico,” panel that there is no doubt that the Energy Reform will be felt in different areas and that despite the existing human talent available, training strategies are needed to face new challenges that will come with the arrival of bigger corporations.

Guillermo Turrent, head of the Modernization of the Federal Electricity Commission (CFE), representing Enrique Ochoa (head of the Commission), recognized the forum’s importance as a convention that provides networking opportunities for the leaders in the industry. Turrent mentioned the efforts that the CFE has done to lower rates and said that come June the energy costs for the industry sector will go down from 25 to 35 per cent, compared to a year ago. Those who attended the forum said that they were satisfied with the event and stressed the need to keep the forum going to reflect on how to face the challenges brought on by the Energy Reform in its different aspects.

June/July 2015 Mxe Mexico Energy and Business Magazine

Jeremy Martin Talks Energ In my recent visit to the XXIV La Jolla 2015 Energy Conference I had the opportunity to chat with Jeremy Martin, director of the energy program at the Institute of the Americas. In this Q&A, Martin talks about the Institute’s main objective, his passion for energy and Latin America, Mexico’s new energy shift and highlights the Conference’s main discourse.

Jose Manuel Escobedo Reachi

June/July 2015 Mxe Mexico Energy and Business Magazine

Tell us about the Institute of the Americas and its connection and relationship with Latin American governments and other universities in the US and the Americas? For over thirty years the Institute of the Americas has served as a platform for publicprivate dialogue on critical issues in the Americas. Our goal is to foster policies that will spur economic development. For the energy program and as part of our mission to promote energy literacy and foster rational energy policymaking, we conduct analytical research on the intersection of energy, economy and politics across the Western Hemisphere. Our research takes the form of white papers, roundtable reports, independent analyses, op-eds and, more recently, the use of web-oriented platforms such as podcasts and webinars. We have published numerous reports over the years and our work has appeared in and been quoted extensively by media such as The New York Times, The Wall Street Journal, Reuters, Bloomberg News and many regional papers and sources. Coincidental to our research and analysis, we also host high-level policy roundtables and forums in Latin America. For 24 years, we have hosted an annual hemispheric policy summit at our headquarters in La Jolla – known as the La Jolla Conference. On May 25-26, 2016 we’ll host our 25th anniversary La Jolla Conference.

Why the Americas and not Asia or Europe, what do you like most about Latin America and Canada and tell us about the energy potential and vast natural resources this part of the world has. I guess it all goes back to Madame Fox, my 8th grade French teacher. She strongly suggested I switch to Spanish when I got to high school – and I did. I have been trying to learn the proper use of Spanish reflexive verbs ever since. But it is also the politics and history of the region -- much of it hugely intertwined with the United States -- that drew me to it and inspired me to learn more. In my effort to learn more I have been quite fortunate to take a long list of amazing classes and travel to almost every country in the hemisphere. And the friends I have made across the region have only made me more hooked. The recent energy boom in the United States is a case study that I believe should be taught in every school across the world. Kudos to the US! What can Latin America learn from this, especially from the US shale revolution? There are a lot of people much smarter than me who argue that it is impossible to replicate the

As director of the energy program, what would you consider is your primary role and how has that role changed throughout the 12 years of your tenure? I’d say our efforts focused on informing energy policymaking and helping to shape policies that advance economic development. But, we also are very involved in furthering the understanding of energy and its myriad -and often-times complex -- issues across the public in the Americas. Those are our energy literacy efforts. JEREMY MARTIN, DIRECTOR OF THE ENERGY PROGRAM AT THE INSTITUTE OF THE AMERICAS.

June/July 2015 Mxe Mexico Energy and Business Magazine

US shale revolution elsewhere. There is some truth to that, but I think it overlooks some broad takeaways that should help inform other countries. There are three elements underpinning what has occurred in the US that should help inform not just the potential for shale in Latin America, but the energy sector more broadly: the role for innovation, entrepreneurship and financing. On this latter point, I am particularly referring to risk capital and private financing options that exist in the US market.

The Mexican Energy Reform promises investment opportunities from both the private and foreign sectors, nevertheless the success of Round One (oil and gas auctions) will be based on the number of participating firms, their reputation and the overall monetary investment. Taking in consideration the slump in oil prices, if Round One does not attract the numbers expected, should investors be deterred from participating and investing in Mexico’s overall energy sector in the short, medium and long term? There is obviously a lot of pressure on Mexico to produce some results soon from the historic reforms and overhaul set in motion in late 2013. But, at the same time it is important to understand that energy is a long term business and thus the potential for Mexico need to be considered in that context. I remain optimistic that in the medium to long term, the reform measures will produce results and make Mexico’s energy sector more robust, competitive and support the country’s economic development needs. It may sound strange or counterintuitive, but I think the oil price downturn just as Mexico’s first competitive bid round, Round One, was launched will prove useful in the medium and long term. What I mean is that it has forced both Mexico and possible bidders to have a true conversation in the months since the first contracts and offers were published. The knowledge gained over the last 6 months by all involved will prove very

beneficial. The contracts and bidders will all be better for this turn of events. The Energy Reform has been implemented and much of its success will be based on capitals of investments, infrastructure developments, response to communities and environmental concerns, and transparency and strength of its institutions such as the CNH, ASEA, including other factors. If you could give the Mexican government, Pemex, and potential investors a suggestion that would expedite the successful implementation of the Energy Reform what would that be? I think that if anything, I would suggest a bit of patience is required. So far, the Mexican authorities have hit the fast forward button on a huge range of the pieces of the reform. In terms of the oil and gas sector, Mexico is moving much faster than either Colombia or Brazil did. With that said, some of the new entities such as CENAGAS and ASEA must prove that they are not just a new layer of bureaucracy that hinders investment but rather a partner in development of a modern, thriving energy sector in Mexico. It was a pleasure attending the XXIV La Jolla 2015 Energy Conference, congratulations on hosting and organizing such a grand event. After leading this event for the past 12 years, do you see a trend in regards to subjects/topics and key players shaping the industry? Thank you. Glad you could join us this year. The beauty of the energy sector is it never lets you down in terms of content and possible topics for a conference agenda and discussion. And the sector is always changing. We’ve gone from talking about what Mexico should do to reform its energy sector to what they should do to improve the reform underway. Also, about 9-10 years ago, a key topic was US imports of liquefied natural gas (LNG). The last 2-3 years, a key topic has been exports of LNG! And while some of the players -- particularly the national oil companies of the region -- have not changed, there are others that didn’t exist a few years ago who are now on the move. The toughest challenge is to try to look around the corner to

see what might be a new trend or topic we should aim to debate and discuss. Expect the unexpected is a pretty good motto. If you have to summarize this year’s energy conference and had to write a headline what would that be and why? The reports of the death of Latin America’s energy sector have been greatly exaggerated. Yes, the downturn in the price of oil has sent shudders across the sector and governments and companies alike. However, there are still huge opportunities and major projects underway. Things are still happening. And countries appear to be responding and realizing the need for competition and innovation and creativity, not just dusting off staid old failed policies.

June/July 2015 Mxe Mexico Energy and Business Magazine

What else can you tell us about Institute and next year’s Conference, and where have you traveled to lately? The Institute of the Americas is a small, nonprofit center. We are not a for-profit conference organizer. We believe in our public-private dialogue mission and remain committed to our goal of informing and fostering the best public policies possible for countries of our

hemisphere. For example, we did not start looking at Mexico and organizing conferences there after the energy reform occurred; we’ve been focused on and helping to shape energy reform in Mexico for decades. I should add that we are always humbled by the opportunity to convene and host important players in the sector for highlevel discussions. As I write this, we are just back from Santiago, Chile where we hosted a Roundtable that featured the Minister of Energy, the head of ENAP and a wide range of private sector and NGO representatives. The discussions we engendered will be part of a continued public policy discourse in Chile as to the country’s energy future. It is truly thrilling and an honor to be part of these important debates across our hemisphere. We’d love for your readers to check out all the exciting programming we are working on and our various reports and analysis here at our site: www.iamericas.org/energy And, of course, we’d like to invite everyone to please mark their calendars for our 25th anniversary of the La Jolla Conference set for May 25-26, 2016. Check out www.iamericas.org/lajolla in the next few months for exciting updates.

June/July 2015 Mxe Mexico Energy and Business Magazine

Joseph Treviño

Jordan Gómez

He’s the Latino heir of the Bush dynasty and is making his mark in Texas.

June/July 2015 Mxe Mexico Energy and Business Magazine

he office is an exercise of minimalism meets old school deco, with some patriotism and classic Texas Longhorn ornaments thrown in the mix. Somehow it befits George P. Bush, who is decked out in a navy blue twopiece power suit, light red silk tie, gleaming, dark-brown leather penny loafers tied with a gold clasp. On his desk sits a portrait of his wife, Amanda; to the right on a bookshelf rests three flags folded in triangular, military style within a trio of black wooden shadow boxes, while on the other side across his solid wood desk is a standing, metal desk. Welcome to Bush’s work sanctum sanctorum. From here, atop of the Stephen F. Austin State building, located in downtown Austin, the heir of the Bush family and of one of America’s most well known political dynasties, oversees the Texas Land Commission. Bush heads the office in charge of managing lands and mineral rights properties owned by the state, as well as helping fund public education. Some Texas political observers see the Texas Land Commission post as a steppingstone for the governor’s office. And from there, they say, who knows? Top political observers across the nation believe that Bush, 39, is preparing the way for bigger political, maybe national posts. Some even say that for the biggest office in the land. In fact, some say that with his family history, name recognition (his father is Jeb Bush, former governor of Florida and presidential candidate) and with his Latino heritage (his mother, Columba, was born in Mexico), Bush could really become —dare we say it?— the first Latino president. Not only that, experts insist, but with all those credentials, and yes, with the hunky looks and winning smile —gifts not to be taken lightly— Bush could genuinely be the unifying force so desperately needed in todays political landscape. “Imagine? A governor from Texas, who just happens to be Hispanic, with name recognition

and the most powerful fundraising machine in modern politics? Look out,” wrote Doug Wead for Newsmax (Wead co-wrote the book, Man of Integrity, with George H. W. Bush). In the meantime and despite his new state office, Bush seems more concentrated on his current position than in national politics. With a dedicated staff he has been toiling away on state affairs since January 2. Unlike other Latino politicos who have talented Hispanics on staff but who often do not possess legitimate bicultural skills and lack a Latin American international experience, Bush seems to be choosing his people well and sending a clear message: That he takes Hispanics and his relations with Mexico and Latin America seriously. His Chief of Staff, J.R. Hernández who is originally from León, Guanajuato (Columba Bush’s Mexican hometown) is a twenty something, charismatic lad who boats imprerssive bilingual and international skills, going from one language to another like a natural. But does this mean that Bush’s plans include a bigger office?

GEORGE P. BUSH POSES IN FRONT OF A ROW OF FLAGS, IN THE STEPHEN F. AUSTIN STAE BUILDING, IN AUSTIN TEXAS.

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ON AUGUST 7, 2004, BUSH’S BACHELOR DAYS CAME TO AN END, WHEN HE MARRIED AMANDA WILLIAMS, A LAW STUDENT AND CLASSMATE.

“POLITICS IS NOT ONLY IN MY BLOOD. IT IS PART OF WHO I AM.”

“Politics is not only in my blood. It is part of who I am,” says Bush, showing his pictureperfect smile. Recently, sounding almost presidential according to political observers, Bush gave a state of the state address, in which he pointed out that his office is working to find new ways to protect the Texas coast, which is eroding on an average of 2.3 feet per year. “We bring a special core expertise to coastal restoration, he said.

A match made in Guanajuato, a match made in Texas The history of the man who for decades has had all eyes on him as a future national power player began in Mexico, specifically in León,

Guanajuato. Located in the central part of Mexico, the state of Guanajuato, in addition to being the home turf of the late classic ranchera composer, José Alfredo Jiménez, is known for its colonial era architecture— and its conservative politics. It was in León, where an 18-year-old, American Aristocrat named John Ellis “Jeb” Bush —George P. Bush’s father— was studying there in a program for a New England prep school, when he spotted a girl inside a car. With a Brigitte Bardot hairstyle, Columba Garnica Bush, standing just five feet tall, impressed the 6 feet two inch Bush so much that he often recalls that this was one of his seminal, lifechanging moments. “My life can be defined in one real, powerful way, which is B.C. and A.C.: Before Columba and After Columba,” Jeb Bush often tells audiences, about his 1971 first encounter with Columba, at León’s main plaza. Columba was a student of Colegio Mayllen, an all-girls school. Though Mayllen is considered one of León’s academies for uppercrust young ladies, Columba’s family was poor, with some of her family members having to migrate North to the U.S. for work, including her father. The ballad of Jeb and Columba, a well-known story in León and now slowly becoming a quasi-mythopoeic styled, Cinderella, national tale, reached a landmark when the future governor of Florida and presidential candidate and the “Leonesa” (as women hailing from León are called) married in February 1974 at the University of Texas’ Catholic student center. Originally an Episcopalian, Jeb Bush would convert to Catholicism. His eldest son, Bush, credits his mother’s faith and values, she has met some Popes and is a dedicated Catholic, for being a guiding light. “There’s two major values that my mother communicated: strong faith and strong ethics. Whether it’s the Catholic faith, but also to work hard. She’s definitely a rock in my life,” Bush says.

June/July 2015 Mxe Mexico Energy and Business Magazine

A Bush, through and through

Political rivals often point out how then Vice-President George Bush referred to his grandsons, Bush and his siblings, whilst running in 1988 as a presidential contender, as the “little brown ones,” (the grandfather quickly said in interviews that “this heart knows nothing but love and pride” for his grandchildren). But less remember that Bush, then just 12, actually pitched in his grandfather’s race by speaking at the 1988 Republican Convention or that George H.W. Bush started his book, Man of Integrity, by introducing George P., in which some observers say that it seems like the former president is grooming his grandson for political heights. Though many see a sort of master plan, a kind of royal passing of the torch to a tutored heir, Bush sees things differently, he says. He explains that growing up as a Bush to him was just the most natural thing, reminiscing that one of his earliest childhood recollections occurred when he was four years old; his grandfather had announced that he was running for President (George H. W. Bush would lose the bid, but would be tapped by Ronald Reagan in 1980 to run as his Vice-President). “That’s really my first memory,” recalls Bush of that era in 1979. Born in Houston, Bush and his family would eventually move to Florida, he recalls. He would attend Gulliver Preparatory School in Coral Gables, where one of his classmates was future recording artist and also a second-generation public persona, Enrique Iglesias. Despite all the hoopla of an Americanstyle blueblood lineage, Bush’s first job was as a janitor, he remembers. His father was into the other family business of real estate, so he thought that what better way to learn real estate than by doing janitorial work? “My first job was cleaning garages,” he recalls. “I learned very quickly the value of a dollar, looking at your paycheck, seeing how much goes to the government and how much you get to keep.” After High School, Bush chose Rice

University, a Houston-based school that is considered in the top 20 universities in the country. He elected it because it was closer to home and he was into baseball, a sport the school supported— Alex Rodríguez, the future baseball star, was his teammate. “It was important for me to get into the right university,” he evokes. During the 1990s, Bush kept a low profile. But by the latter part of that decade, coinciding nicely with the spectacular Latino boom of that era —suddenly the demographics, the culture and numbers turned Hispanics into the minority group of the moment— the eldest son of Jeb and Columba Bush was at the right time and at the right moment. In 2000, People Magazine picked him as one of the 100 most eligible bachelors; it was also the year that he campaigned for his uncle, George W. Bush, presidential bid. With dark good looks and an infectious smile that seemed to intoxicate women, Bush was the new Latino sensation. Almost immediately, both the mainstream and Spanish press labeled him as the next political star, saying that the young Bush had practically every gift needed to become the next political star to watch out for. As the media covered his uncle’s presidential campaign, they described the young P. Bush as an expert in “Hispanic and female outreach.” Other publications dismissed him as mere “eye candy” without any substance. In a New York Times story, an unnamed aide described Bush as “Ricky Martin, except better looking.” Still, he says that though public speaking and politics run in his blood, he was not obsessed with this. His thing was more into serving others, he says. “You look at scriptures and they say that to he who is given, much is expected. I didn’t have a fixation on entering politics. I had more of an interest through their guidance [his grandfather and other family members] and their leadership to look at ways to serve other people,” he says.

“IMAGINE? A GOVERNOR FROM TEXAS, WHO JUST HAPPENS TO BE HISPANIC, WITH NAME RECOGNITION AND THE MOST POWERFUL FUNDRAISING MACHINE IN MODERN POLITICS? LOOK OUT.”- DOUG WEAD, AN AUTHOR, REGARDING GEORGE P. BUSH AND HIS POSSIBLE LAUNCH INTO LARGER POLITICAL POSTS.

industry are some of the smartest, most hard-working people I’ve ever met. I would never bet against them in the long run. Texas ingenuity brought ON JANUARY 2, GEORGE P. BUSH BECAME TEXAS LAND COMMISSIONER us the gusher at Spindletop in 1901. And innoOil & Natural Gas vations in hydraulic fracturing techSince its commencement, the Texas niques -- pioneered in Texas -- have General Land Office has deposited again revolutionized the industry. more than $12.3 billion into the PerTexas oilmen are also a scrappy manent School Fund from oil and gas bunch. They’ve seen good times and production on Permanent School Fund bad and know well the cyclical nature (PSF) lands. of this business. When times are good, One of the GLO’s primary responsi- they ramp up spending on exploration. bilities today is to lease the state’s vast When times get tough, they cut back land holdings for energy and mineral the fat and find new markets -- like development. The proceeds from these Mexico. Right now, for example, there leasing activities are deposited into the are new pipelines being built to constate’s PSF, created to help finance pub- nect producers in the Eagle Ford Shale lic primary and secondary education. to the Mexican National Pipeline SysAn interesting fact is that oil and gas tem. We’ll be exploring some of these leases on PSF lands generate more rev- new opportunities at the Texas General enue than any other source of income Land Office’s 22nd Annual Border Enfor the public education endowment. ergy Forum this October in San Diego. The good management of these leases is one of the TGLO’s main responsibilities. Q- Texas energy companies create thouIn an interview with Commission- sands of jobs each year and now that er George P. Bush, we touched on the the Mexican Energy Reform is in full Mexican Energy Reform, low prices of effect, how can both Texas and Mexico oil, and the ingenuity and innovation economies benefit from each other and of Texas’ oil businessmen. what would be the role of the TGLO in this matter? Q- Earlier this year you told a group of A- Mexico’s Energy Reform will create energy producers (Mexico Shale Summit/ on of the biggest economic shifts in the San Antonio) that low crude oil prices history of the region, and the potential are an opportunity for ingenuity and for job growth in Texas is enormous. innovation within the energy industry, Billions of dollars in private investwould you please elaborate on this con- ment are poised to change the way cept and how it applies to Texas energy this region buys, and sells the energy companies and today’s lower oil prices? that is a cornerstone for the econoA- Texans who work in the oil and gas my of both nations. And while these

changes will affect virtually everyone along the busiest border in the world, just how they will play out is still a huge, unanswered question. This October, business and political leaders from each side of the border will meet in San Diego to begin charting a course through the opportunities and pitfalls created by Mexico’s Energy Reform at the Texas General Land Office’s 22nd Annual Border Energy Forum. Mexican President Vicente Fox, who fought to crack open Mexico’s state oil, gas and electricity monopolies to foreign investment as president, will be the featured speaker at this year’s meeting. When President Enrique Peña Nieto signed Mexico’s comprehensive Energy Reform package into law early in his term, he completely eliminated the vertically integrated, governmentowned monopolies that hobbled the Mexican economy for generations. In its place, a competitive market was born, where private investors may participate in virtually every sector of the energy markets. What happens when you replace government run monopolies with free enterprise? Opportunities blossom. And on the U.S.-Mexico border, there will be opportunities for public private partnerships in oil and gas production, infrastructure, and in the development of renewable energy sources that are now required under the energy reform laws. All of this means opportunities for Texas business willing to take the leap. And while competition for the shale gas plays may get much of the media attention, changes coming to the Mexican renewable energy market are especially important to the border economy.

To sign up for the Border Energy Forum, please visit www.borderenergyforum.org.

June/July 2015 Mxe Mexico Energy and Business Magazine

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MEXICO’S ENERGY REFORM

Rebecca O’Connor and Lisa Viscidi Inter-American Dialogue

Mexico’s Energy Reform: Bridging the Skills Gap Energy Policy Brief

June / July 2015 Mxe Mexico Energy and Business Magazine

Introduction

Firms across Latin America are complaining about the difficulties of recruiting workers with the technical skills their businesses demand. Lack of adequate skills is becoming a bottleneck for growth in technologically complex industries, harming government efforts to increase investment in strategic sectors of the economy. In Mexico, the energy reform creates opportunities to generate new jobs and educate and train workers in specialized skillsets, but the country will also face challenges in meeting additional demand for skilled labor. The reform, which ended state oil company Pemex’s monopoly and opened the electricity sector to increased private participation, will boost economic growth by 1% by 2018 and 2% by 2025, while spurring development of the industrial sector, according to government projections. Many new oil companies, utilities and service providers are expected to enter Mexico and compete for talent in the coming years. New and expanded government agencies will also need more skilled professionals. At the same time, as many as half of Pemex’s employees will be at or near retirement age within a decade. The energy sector will likely see at least $50 billion of new investment by 2018, with each billion dollars yielding 2,700 direct jobs and 2,700 indirect jobs, the government estimates. However, the absence of quality education at the primary and secondary levels, low enrollment in energy-related higher education programs and weak industry-academia ties mean not enough graduates are prepared to work in the sector. On April 28, 2015, the Inter-American Dialogue, in partnership with Comexi and the American Chamber of Commerce of Mexico, hosted a roundtable discussion to bring together senior representatives of the Mexican government, industry executives and leaders in education to

discuss challenges and opportunities for human capital and the energy and oil and gas sectors in Mexico. Participants discussed what skills will be needed in the sector, what Mexico’s educational institutions can do to meet this new demand, and how government policies can help close the skills gap. Educational Enrollment has Increased but Quality Remains Low Enrollment of children age 5-14 in Mexican schools has increased rapidly over the past half-decade, reaching almost 100%. Yet, enrollment in upper secondary education remains just above 50%.1 While overall education budgets in Mexico are close to the average for member countries of the Organisation for Economic Cooperation and Development (OECD), public spending per student is low and inefficient. Quality of education also remains below average – on the most recent Program for International Student Assessment (PISA) exams in reading, mathematics and sciences, Mexican student scores were the lowest of all OECD countries.2 The rate of doctoral degree completion in Mexico is one of the lowest among OECD countries, and according to government statistics, only 14.2% of higher

MEXICO’S ENERGY REFORM

education programs in Mexico are accredited by the Consejo para la Acreditación de Educación Superior.3 4 Continuous improvement of the quality of primary and secondary school education, especially in science, technology, engineering and mathematics (STEM) fields, and an increase in enrollment in secondary education will increase the pool of potential skilled workers in the energy sector and more broadly. FIGURE 1: DISTRIBUTION OF NEW DIRECT JOBS

June / July 2015 Mxe Mexico Energy and Business Magazine

SOURCE: PROGRAMA ESTRATÉGICO DE FORMACIÓN DE RECURSOS HUMANOS (PEFRHME)

Practical Training is Key to Bridging the Skills Gap Mexico has no shortage of skilled workers but needs to better align the qualifications of its graduates with the needs of the energy sector. By 2018, investment in the sector as a result of the reform will create 135,000 new direct jobs requiring a specialization in the energy sector. An additional 135,000 indirect jobs will also be created as a result of the reform. Of the 135,000 direct jobs, 20%, or 27,000, will require a bachelor’s, master’s or doctoral degree and 80%, or 108,000, will require specialized technical training or a vocational degree (see Figure 1). Matriculation in higher education programs directly related to the energy sector, such as geophysics, geology, oil engineering, oil chemistry and renewable energy is more than sufficient to meet this demand – 70,000 students a year graduate from energy focused bachelor’s degree programs and matriculation for energy related master’s and doctoral degrees in the 2013-2014 school year was approximately 17,000 and 2,000, respectively, comprising 8% of the national total. But students

graduating with relevant degrees lack the specific skill sets needed to execute the day-to-day demands of energy sector jobs. University programs are often unaccredited and lacking quality control, and even those of quality are mostly theoretical and do not take into account the skills needed for a career in the energy sector. Creating certifications that can be obtained while studying for a degree is one solution, according to Carlos Ortiz, General Director of Research, Technological Development and Human Resource Formation at the Mexican energy secretariat. The certification programs would be designed based on the technical skills needed to perform energy sector jobs and would train and test students on this specific technical knowledge. Universities would also be able to direct their curricula toward these skills by preparing students for the certification exams, ultimately producing graduates equipped to work in the sector. Mexico can also reduce the skills gap by retraining engineers and technicians who previously focused on other areas to work in the energy industry. Companies can play an important role in developing human capital by creating training programs and utilizing local workforce and service providers. Pemex and the Federal Electricity Commission (CFE) both have internal training programs and Pemex has an additional “Corporate University” program to train employees. Regulators too will need specifically trained graduates with a unique set of skills. While operators must intimately understand specific processes to maximize production, efficiency and safety while minimizing costs, regulators must understand the process at a macro level in order to create specific quality control points from which universal, industry-wide guidelines can be developed. Special training to comply with regulatory guidelines is a fundamental part of the instruction that technicians must receive, according to Ana Luisa Fajer, the General

MEXICO ENERGY + BUSINESS FORUM PRESENTED BY

We cordially invite you to find out the latest developments in Mexico’s dynamic energy sector. Our panels of US and Mexico experts will provide information on business opportunities, research findings and highlight the major breakthroughs, as well as challenges facing the industry today.

Please join us for a breakfast and panel sessions. Register at MXE-FORUM.EVENTBRITE.COM at no cost and reserve your seat. Space is limited.

AUGUST 19, 2015 8am - 1pm FOUR SEASONS HOTEL 1300 LAMAR ST. HOUSTON, TX 77010

Invited speakers ARTURO HENRIQUEZ | CHIEF PROCURMENT OFFICER (PEMEX) GUSTAVO HERNANDEZ | DIRECTOR OF EXPLORATION AND PRODUCTION (PEMEX) LOURDES MELGAR | UNDERSECRETARY OF HYDROCARBONS (MINISTRY OF ENERGY) JUAN ACRA | PRESIDENT OF THE ENERGY COMMISSION (COPARMEX) JUAN CARLOS ZEPEDA | PRESIDENT COMMISIONER OF THE NATIONAL HYDROCARBONS COMMISSION FRANCISCO SALAZAR | PRESIDENT COMMISIONER OF THE ENERGY REGULATORY COMMISSION ENRIQUE OCHOA | CHIEF EXECUTIVE FOR THE FEDERAL ELECTRICITY COMMISION (CFE) CARLOS CANTU | GENERAL MANAGER SUPPLIER DEVELOPMENT (PEMEX PROCUREMENT INTERNATIONAL INC. CARLOS DE REGULES | EXECUTIVE DIRECTOR FOR THE SECURITY, ENERGY, AND ENVIRONMENTAL AGENCY (ASEA) BENIGNO VILLAREAL DEL RIO | GENERAL DIRECTOR, VIVE ENERGIA - ELECTRIC ENERGY CARLOS HUERTA | POLITICAL AND ECONOMIC ADVISOR IN PEMEX COMMITTEE For more information, please contact: JAVIER SENDEROS Mexico City 52 559136 5100 jsenderos@petroleoenergia.com

JOSE ESCOBEDO Dallas 214 206 4966 EXT. 227 jescobedo@latinoleaders.com

June / July 2015 Mxe Mexico Energy and Business Magazine

MEXICO’S ENERGY REFORM

Director for North America at the foreign relations secretariat. This applies to technicians working on a range of projects, from aluminum and aquatic structure welders to gas plant operators to oil and gas production technicians. A lack of English language skills is another barrier that can inhibit Mexicans from working in international companies. English classes offered in Mexican public schools are generally of very low quality and private classes are unaffordable for much of the population.5 The Bilateral Forum on Higher Education, Innovation and Research, an agreement between Mexico and the United States also known by its Spanish acronym FOBESII, lists improvement of English language skills in Mexico and Spanish language skills in the United States as one of its main components to facilitate exchange and promote workforce development.6 The shortage of job opportunities and competition for talent in the energy sector has in itself created a bottleneck to growing the workforce. There is a perception among students and graduates that the energy job market is inflexible and opportunities are scarce. PEMEX employees’ salaries are on average higher than those for the rest of the economy, but the lack of flexibility in the Mexican labor market makes the probability of obtaining employment at PEMEX relatively low – creating a disincentive for students to study energy-related fields, according to Victor Carreón Rodríguez, Deputy Director of Planning and International Coordination at Mexico’s National Council of Science and Technology (CONACYT). Increased opportunities and competition from international oil companies entering the Mexican market will boost demand for energy sector professionals, creating a more dynamic and competitive market, and thus more incentive for students to study energy-related fields. To make the sector more dynamic and competitive, diversity must also be a priority, and women in particular should be encouraged to study energy-related fields. To that end, CONACYT currently offers scholarships specifically for women. Of the OECD countries, Mexico has the widest gender gap in labor participation rates. According to OECD estimates, a 25% reduction in the gap by 2025 could lead to an additional 1% of GDP growth for the country.7

Local Content Rules Will Require the Development of Local Talent A shortage of domestic skilled labor would be particularly challenging for international companies that will have to comply with Mexico’s local content requirements. Federal law requires that at least 90% of a company’s workers, both skilled and unskilled, be Mexican nationals. This limit on foreign employees does not apply to key high level positions which require a special immigration permit. A company can also hire up to 10% of

foreign technicians after proving that they are not available locally.8 For the oil and gas sector specifically, local content rules require a minimum percentage of total investment to be made up of goods and services produced in Mexico. For example, in the first two phases of the so-called Round 1 oil and gas auction, 13% and 17% local content was required for exploration. For development of the fields, the requirement starts at 25% and reaches 35% by 2025. In the third phase of Round 1 bidding, 22% local content will be required during the two-year evaluation period and 27% for the first year of development, increasing to 38% in 2025.9 While local content requirements can be challenging, they also present an opportunity for companies to create jobs by developing local supply chains. In Iraq, for example, Shell has created programs to train welders, construction workers, electricians, and others – about 1,000 individuals who work as contractors for the company. Multiple industry players can also collaborate to develop local supply chains.

Government Action Focuses on Identifying Skills Gaps and Funding Talented Students In August 2014, President Peña Nieto highlighted ten priority items to effectively implement the energy reform, including human capital development. The Strategic Program for Human Resources Development in Energy was created to improve national innovation in science and technology, developing human capital, promoting regional development across Mexico, strengthening industry-academia ties and developing science and technology infrastructure. The program is an inter-ministerial and inter-organizational collaboration between the energy, foreign relations and public education secretariats, CONACYT, the CFE and other government entities.

MEXICO’S ENERGY REFORM

The Mexican government, with consulting firm Deloitte, is creating a comprehensive diagnostic to identify talent gaps in the energy sector and the key occupations needed to develop the industry. For example, for the two rounds of the bidding process already underway, critical occupations would include geologists and geophysicists to analyze oil fields, petroleum engineers to make decisions regarding drilling, well completion strategy and recovery methods, and mechanics that can evaluate devices and plan and supervise installations. Mexico’s energy secretariat (SENER) intends to publish this diagnostic by July, detailing the outlook and possibilities for talent in the sector. The study will be used to guide investment strategy, allowing the government to focus on specific talent gaps while optimizing the use of resources. It will also enable universities to better determine how they can adjust academic offerings to meet the needs of the sector. The study will provide industry players with a better understanding of the main challenges and offerings of the Mexican labor market. In 2013, CONACYT, along with SENER, launched the creation of three Mexican Centers of Innovation in Energy focused on geothermal, solar and wind energy. In 2014, innovation centers for biomass and ocean energy were also created. The two entities will also collaborate to implement new higher education scholarships and hire new research professors distributed throughout the country that specialize in hydrocarbons, sustainability and other energy-related topics. Mexico’s sustainability fund and hydrocarbons fund will each provide scholarships and capital to invest in human resources development (see Figure 2).

June / July 2015 Mxe Mexico Energy and Business Magazine

FIGURE 2: SUPPORT FOR HUMAN RESOURCE FORMATION FROM MEXICO’S SUSTAINABILITY FUND IN PESOS

(JANUARY 2013 - JUNE 2014) SOURCE: PROGRAMA ESTRATÉGICO DE FORMACIÓN DE RECURSOS HUMANOS (PEFRHME)

FIGURE 3: SUPPORT FOR HUMAN RESOURCE FORMATION FROM MEXICO’S HYDROCARBONS FUND IN PESOS (JANUARY 2013 – JUNE 2014) SOURCE: PROGRAMA ESTRATÉGICO DE FORMACIÓN DE RECURSOS HUMANOS (PEFRHME)

In addition, the education secretariat plans to implement an energy-related scholarship program for technical education with 3,000 to 5,000 scholarships per year, and will promote competition for these awards among students studying energy in public higher education programs. In 2014, CONACYT reported a total of 6,595 scholarship recipients enrolled in high quality programs directly related to energy and 409 Mexican scholarship recipients studying these topics at foreign universities.10 These programs are generally designed from an academic perspective and do not include instruction in the day-to-day skills needed to perform energy sector jobs. To attract talented students to the energy sector, the program will also strengthen science education at the primary and secondary level, where significant improvement is needed. In the obligatory 2012 teacher evaluation, across the country teachers scored the lowest in science with an average grade of 47.4%.11 The technical committee tasked with evaluating the effectiveness of the strategic program will monitor the percentage of graduates with advanced degrees and technical education in energy-related topics who have benefitted from the program, tracking the number of energy sector-related theses and regional energy expositions.

MEXICO’S ENERGY REFORM

FIGURE 4: PROJECTIONS FOR ENERGY SECTOR RESEARCHERS AND SCHOLARSHIP RECIPIENTS SOURCE: PROGRAMA ESTRATÉGICO DE FORMACIÓN DE RECURSOS HUMANOS (PEFRHME)

Texas and Arizona to be trained in drilling as a first step to linking these important actors in workforce development.14 Mexican government scholarships for foreign students to study in the country in 2016 will prioritize applications for programs related to the energy sector. Both the United States and Mexican governments have prioritized educational cooperation in the energy sector, with the United States well placed to share best practices in linking industry and education to create a competitive regional workforce. The United States and Mexico are also considering a pilot program for joint certifications in the energy field.

Conclusion

June / July 2015 Mxe Mexico Energy and Business Magazine

International Cooperation Helps Mexico to Apply Best Practices

International cooperation and exchange, coordinated by the foreign relations secretariat, will also play an important role in developing the energy sector. As part of the strategic program, the secretariat will seek agreements and incentivize participation in international commissions, conferences and expositions related to the energy sector. Mexico’s Proyecta 100 Mil program aims to send 100,000 students to study in the United States by 2018 and receive 50,000 US students in Mexico. In a separate initiative, US President Barack Obama has also prioritized sending students from the United States to Latin America in his 100,000 Strong in the Americas program, with the goal of an educational exchange of 100,000 students in each direction by 2020.12 13 Mexico and the United States also have educational exchange initiatives that focus specifically on science and technology cooperation, many involving both the United States’ National Science Foundation and Mexico’s CONACYT. The Bilateral Forum on Higher Education, Innovation and Research, an agreement between Mexico and the United States, works to promote mobility of students, academics and research and develop strategic areas of interest for both countries. Priority sectors include science, technology, aerospace, biotech, medical science and devices, engineering, water and mathematics. Already, 300 Mexican students have been sent to US technical and community college training programs in California,

The lack of graduates with the day-to-day skills needed to perform energy sector jobs could become a significant hurdle to the successful implementation of the energy reform. In order to bridge the skills gap, Mexico’s government should continue to work with the private sector to address bottlenecks. The key areas of focus should include: 1. Increasing internships, on-the-job training and certifications will help prepare students to succeed post-graduation, in both specialized technical roles and jobs requiring an advanced degree. Certification programs should be designed to train and test students in the technical skills needed to perform energy sector jobs. Universities should direct their curricula toward these skills by preparing students for the certification exams. Companies also play an important role in developing human capital by creating training programs and utilizing local workforce and service providers. Regulators will also need special training programs on how to design and enforce regulatory guidelines.

June / July 2015 Mxe Mexico Energy and Business Magazine

MEXICO’S ENERGY REFORM

2. To make the sector more dynamic and competitive, diversity must be a priority. Women in particular should be encouraged to study energy-related fields, for example through more targeted scholarship programs as well as initiatives in primary and secondary school encouraging inclusive participation in STEM education. Socio-economic diversity should also be promoted through targeted scholarship programs and increasing the accessibility of energy sector educational programs. 3. The United States can serve as an important resource to Mexico in terms of sharing best practices in linking industry with technical and academic degrees, including programs for full-time students and continuing education for professionals. In addition, expanding educational exchanges with the United States would help Mexican students to acquire practical language and technical skills needed for energy sector jobs. Increased bilateral collaboration between all levels of education (high school, vocational, bachelors and advanced degrees) will help build a uniquely competitive regional workforce.

REFERENCES 1. Rodrigo Castaneda Valle and Cuauhtemoc Rebolledo Gómez, “Mexico,” in “Education at a Glance 2013: OECD Indicators,” Organisation for Economic Co-operation and Development (2013): 4, doi: 10.1787/eag-2013-61-en.

2. Eduardo Olaberría and Valéry Dugain, “Sharing the Fruits of Growth with all Mexicans,” Organisation for Economic Cooperation and Development (2015): 20-21, doi: 10.1787/18151973. 3. Sean Dougherty, “Boosting Growth and Reducing Informality in Mexico,” Organisation

for Economic Co-operation and Development (2015): 32, doi: 10.1787/5js4w28dnn28-en. 4. Secretaría de Energía (SENER), Secretaría de Educación Pública (SEP), and Consejo Nacional de Ciencia y Tecnología (CONACYT), “Programa Estratégico de Formación de Recursos Humanos en Materia Energética,” Gobierno de México (2014). 5. Blanca Heredia and Daniela Rubio, “Inglés y desigualdad social en México,” in “Sorry. El aprendizaje del inglés en México,” Mexicanos Primero (2015): 28. 6. Nathaniel Hoffman, “Study Abroad: U.S.-Mexico Seek Stronger Academic Ties,” The Blue Review, July 14, 2010.

MEXICO’S ENERGY REFORM

7. Olaberría and Dugain, “Sharing the Fruits of Growth with all Mexicans,” 17. 8. Deloitte Touche Tohmatsu Limited, “Taxation and Investment in Mexico 2014,” Deloitte International Tax Source (2014): 23-24. 9. Mariano Ruiz Funes, “Retos para la proveeduría nacional en hidrocarburos,” El Financiero, May 14, 2015. 10. SENER, SEP and CONACYT, “Programa Estratégico de Formación de Recursos Humanos en Materia Energética”. 11. Jennifer L. O’Donoghue, “¿En apoyo a las escuelas? El gasto y la calidad educativa en México,” in “(Mal)gasto: Estado de la Educación en México 2013,” Mexicanos Primero (2013): 162. 12. Consejo Nacional de Ciencia y Tecnología (CONACYT), “Becas de Inversión en el Conocimiento 2015-2016,” Gobierno de México (2014). 13. The White House. Office of the Press Secretary, “Fact Sheet: Educational Exchanges for the 21st Century: 100,000 Strong in the Americas and Science without Borders,” United States Government, April 9, 2012. 14. Nathaniel Hoffman, “Study Abroad: U.S.-Mexico Seek Stronger Academic Ties”.

June / July 2015 Mxe Mexico Energy and Business Magazine