Mexican President Andrés Manuel López Obrador, (AMLO) as he promised when he ran for President is moving to renationalize much of Mexico's energy industry, and the august folks at The Economist are completely losing their sh%$ over this, because stealing from the people to privatize state resources at below market rates is fine, but attempting to return those stolen assets is an affront to the will of God.
Their argument is for this is that large industrial concerns have been able to pay far less for electricity from the private suppliers, though (of course) these sweetheart rates are not available to ordinary people.
I'm sure that privatized electricity works in Mexico, just as it worked in California in 2000-2001 and just as it worked in Texas last winter.
There position is quite simple: Private entities must be allowed to profit from the public commons at the expense of the public good, and if (when) they fail then they must be bailed out by the taxpayers.
Socialism for the rich, and capitalism for the rest of us.
In the words of Emilio Estavez in the immortal movie Repo Man, "F%$# that!"
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