Posted on 05/26/2008 6:50:16 AM PDT by captjanaway
As if the constant flow of illegal aliens and drugs from Mexico were not already a huge problem for the United States, it is about to get worse. When Business Week took notice of Mexico's dwindling oil reserves and failed national oil company, Pemex, in its May 5th edition, it signaled a problem whose significance is as great as the one involving an invading population.
"A Slippery Moment for Mexican Oil" was the title, followed by "Output is tanking, but there's fierce opposition to a plan that could reward Big Oil for helping find new reserves." You have to read through most of the article before you discover that, "Oil output in Mexico, the world's No. 6 producer of crude, is plummeting. At the Cantarell field, the country's main source of oil, production is declining 15% annually...Unless new reserves are found quickly, Mexico - which accounts for 11% of U.S. oil imports - could stop exporting within a decade."
(Excerpt) Read more at familysecuritymatters.org ...
PEMEX ping!
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PRLAX: Sell or Hold ??
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