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In the light of the extensive--and contradictory--testimony presented at the Senate forum on oil policy, we returned to the original texts of the five legislative proposals of the government submitted in April 2008. We conclude that three of the five proposals are unrealistic--independently of any questions of their legality--while the other two have potential for strengthening both Pemex and the government, depending on the quality of the quality of the executives and board members who are chosen to fill the new positions that the law seeks to create. Two proposals stand out as bold, substantive measures: the modification of the Petroleum Act of 1958 to allow for private investment in the oil midstream (it is already permitted in gas) and the proposed Pemex Administration Act to replace that of 1992. By the new law, Pemex governance would be concentrated in one board of directors--with outside members--not in five boards, as is presently the case. The report includes two diagrams of how the laws related to each other and how they are supposed to influence existing and new agencies. Our reports are available by subscription or online purchase on this website. A customer may create a receipt of purchase, adding, as required, his tax ID number.