Mexican oil production is only declining because Pemex hasn’t invested in modern techniques or machines. Private investment by foreign firms could drastically boost output.
That’s english. Drastically.
Only mathematics matters in the world of oil.
Mexico crude production peaked in 2004 at 3.9 mbpd. They are down more than 1 million bpd from there to 2.6 mbpd.
They used the most modern of techniques to accelerate oil output and maximize it as soon as possible and they did permanent (there’s an english word for you . . . PERMANENT) damage to Canterell by ramming oil down deeper in depth, making it hotter and turning it into natural gas.
That’s not fixable. The “investment” word in the world of oil means “drilling frantically for smaller and smaller bubbles of porosity in the rock” until you’re drilling $10 million dollar wells to tap spherical volumes of tiny size.
Conservatives have to get their minds wrapped around the concept of IT IS POSSIBLE TO RUN SHORT. Not out. You will never run out. There will always be tinier and tinier spheres of porosity to tap. You can spend more and more effort to get less and less crude. That means you never run out, but you still die.