What happened to the Mexican govt plan to allow private entities to develop their fields? Last I checked it was being shot down by the left. If Mexico doesn’t do something to revive their industry soon they’ll be bankrupt inside 10 years. If folks think we’ve got a problem on the southern border now they ain’t seen nuthin’ yet.
This is the latest news I’ve seen related to it.
Pemex reform has ‘lost too much time’
http://www.chron.com/disp/story.mpl/business/5793523.html
May 20, 2008
Former Mexican President Vicente Fox said Mexico’s oil industry needs investments in the tens of billions of dollars to find and produce oil and build refineries.
But he said an effort by his successor, Felipe Calderón, to persuade Mexico’s Congress to allow foreign companies with needed expertise to work with the nation’s government-run oil company would bring about too little change to be effective.
“I think that we will have reform. I hope it will not be so modest that it is not worthwhile,” Fox told energy accountants at KPMG’s global energy conference in Houston on Tuesday. “We have lost too much time on this.”