In this episode, Mariana Campero sits down with Guillermo García Alcocer, former chairman of Mexico’s Energy Regulatory Commission (CRE) and one of the region’s premier energy policy experts. Together, they break down Mexico’s dramatic shift from a dominant energy exporter to a country relying on the U.S. for over 70% of its refined fuels and natural gas. They explore the strategic trade-offs and vulnerabilities of this dependence on cheap American gas, as well as the pragmatic policy shifts being implemented to power Mexico's booming manufacturing sector and data centers.They also discuss the unrealistic outlook for Mexico’s new policy on fracking, Pemex’s mounting debt burden, and why public-private "mixed contracts" struggled to attract bidders. Finally, they look at the broader regional landscape, examining how the rise of energy players in Guyana, Brazil, and Venezuela could permanently redirect vital capital away from Mexico, and why Mexico’s own energy policies mean fewer companies are moving to Mexico.