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To: txdoda; Smokin' Joe
conservative Felipe Calderon, proposes opening the industry to foreign oil corporations to help increase crude exports.

Easier said than done. It's harder than getting Congress to open up offshore exploration along the US coast. The Mexican constitution prohibits any foreign company from drilling or operating oil and gas wells in Mexico. They also prohibit any domestic competitor to the state monopoly Pemex. Unlike the US, the state owns all mineral rights. If you are unfortunate in having oil and gas under your land, that's tough. Pemex will damage your property to extract it without paying any royalties or damages.

11 posted on 07/02/2006 1:48:12 AM PDT by Paleo Conservative
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To: Paleo Conservative; HuntsvilleTxVeteran; txdoda
I have to say that I like our system better, but then I am working on a wellsite right now. I get to FReep between describing samples and during connections.

The oil company setup is bad enough, corruption is a definite problem, and the looting of the oil company to subsidize social programs has its limits.

At some point you simply do not have the money to keep up with declining production. They are slowly killing the golden goose down there.

I hope more people are aware of this next time our Congress brings up "windfall profits" taxes, and keep that camel's nose out from under the tent.

13 posted on 07/02/2006 1:57:34 AM PDT by Smokin' Joe (How often God must weep at humans' folly.)
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To: Paleo Conservative
Easier said than done.

That's for sure.

The Mexican constitution prohibits any foreign company from drilling or operating oil and gas wells in Mexico.

Yep, & I don't really expect to see the mex. congress changing *that much* in these elections......Plus any mex. president will still have to be *controlled*.

14 posted on 07/02/2006 2:06:34 AM PDT by txdoda (Voters to Gov't .......Re: post 9-11 Border Security....... ""The results are Unacceptable."")
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To: Paleo Conservative
Unlike the US, the state owns all mineral rights. If you are unfortunate in having oil and gas under your land, that's tough. Pemex will damage your property to extract it without paying any royalties or damages.

This is precisely WHY Mexico's oil is running out. If you don't own mineral rights under your own land, or explore in competition with the government, then where's the incentive to find more oil?

32 posted on 07/02/2006 7:07:54 AM PDT by BlazingArizona
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