López Portillo, José

López Portillo (y Pacheco), José

(born June 16, 1920, Mexico City, Mex.—died Feb. 17, 2004, Mexico City) President of Mexico (1976–82). He was a professor before joining the governments of Gustavo Díaz Ordaz and Luis Echeverría. As president, he emphasized attraction of foreign investment, tax concessions to stimulate industrial development, creation of nonagricultural jobs, and exploitation of oil and natural gas. His most significant political reform was to increase participation of minority parties, facilitating later challenges to the Institutional Revolutionary Party. Most of the wealth that flowed from expanded oil exports was squandered or pocketed by government and union officials. His administration was discredited by the huge foreign debt it amassed and charges of corruption. See also Pemex.