Following the Mexican government’s latest initiative of the Mexican government to amend the Hydrocarbons Law, the concerns about Mexico following in Venezuela’s footsteps to undo the energy reform (like Venezuela destroyed the 1990s oil and gas opening) are growing. It is important to keep in mind certain key differences between Venezuela and Mexico and how each country opened its oil and gas industry to private investment. This will help us understand the process that is underway in Mexico and the likelihood of the government’s success in undoing the energy reform, further discussed in this article. Spoiler alert… Mexico is not Venezuela.