Border battle brews over Mexico's undersea oil June 5 2008

Los Angeles Times ^ | June 5, 2008 | Marla Dickerson, Los Angeles Times Staff Writer

[Donald Rumsfeld Fan]

Pemex says there are billions of untapped barrels in Mexico's deep waters. But it lacks the capital and know-how to go after them.

A bill being pushed by President Felipe Calderon's administration would make it easier for Pemex to hire the expertise it needs. But deep-water projects cost billions and can take a decade to come on line. Oil majors typically want a share of any crude that they find -- a standard industry practice forbidden by Mexico's constitution.

[Donald Rumsfeld Fan]

Mexico's State Oil Company is a perfect example of Ayn Rand's thesis demonstrated in her novel Atlas Shrugged.

These socialists have the oil reserves but don't have the ability to extract it.

Where is John Galt when you need him? LOL.

[avacado]

"Pemex says there are billions of untapped barrels in Mexico's deep waters. But it lacks the capital and know-how to go after them."

That's quite all right. Baker Hughes is developing the technology and equipment to get at those ultra deep reservoirs and the USA will just horizontally drill over to Mexico's side and suck it all dry!

[HuntsvilleTxVeteran]

Mexico has never been a friend of our United States.

Based on old pesos!

The looters of Mexico want to have the freedom to loot America.

After spending several years starting oil exploration crews for Pemex, I think I have The reason Mexico has become so bad.

I like the Mexican people in the fly over parts of Mexico. The mid level and workers of Pemex are good. It is the government and the high up in Pemex that are the vultures and looters. The peso was about 8 cents (12.5 to a dollar). When Pemex found the sito grande, a very large oil pool that covers parts of the states of Chiapas and Tabasco also a long ways into the Gulf of Mexico.

Pemex borrowed billions to produce this great oil find. The looters (government) stole most of the money and what they did buy was junk oil rigs and drill pipe, etc. 1,000 pesos which was worth about $80 now will not buy a coke (old pesos). This was due to the looters stealing billions from the Mexican people.

Instead of overthrowing the looters the Mexican people had an out, they had no weapons and they could cross into America and have a much safer life. This hurts both Mexico and America as Mexico lost some of it’s hardest workers. The gangbangers and welfare frauds also came over from Mexico as they could rape and pillage at will.

The government of Mexico is propped up by the billions sent back by the illegals and by our government having borders that are too open.

The only chance I see to help America and Mexico is to seal the border, deport the people who are not here legally. We also need to arm the Mexican people so they can have a chance against the looters with their armies.

[TLI]

More...

“It’s unclear whether big shared deposits even exist in the Gulf of Mexico. Historically, the region’s deepwater finds have been isolated pockets of petroleum, not mega-fields.”

“Officials at the U.S. Minerals Management Service, the federal agency that regulates U.S. offshore production, said they had no knowledge that any gulf reservoirs now under development crossed the international divide.”

If the mexicans can’t get their oil out and will not agree to a partnership, guess what? It will just sit there while the mexicans blather on about “their continent” or some such nonsense.

[wac3rd]

Mexico sends billions of untaxed dollars back from the US and their citizens are told to break our laws by their corrupt government.

We need to build a fence, deport and then negotiate.

The politicians need to be stripped of their offices, including the treasonous judges who continually ignore the People.

[PGR88]

Mexico is one of the world’s largest oil producers, but doesn’t have the know-how to get to these fields. Socialism strikes again!

[curiosity]

The fact that so much of the world's oil reserves are in the hands of inefficient, capital-constrained state-owned companies is a huge problem.

That's why the refusal to allow China's state-owned oil company to buy Unocal a few years ago was a good move, IMHO.

What I don't understand is why so many free market advocates have no problem with state-owned companies buying American companies. Remember the flap with the Dubai Ports deal? Again, another state-owned actor wanted to purchase an American company, and a lot of free market Freepers were cheerleading the deal.

IMHO, state-owned enterprises should be prohibited from purchasing American assets. I have absolutely no problem with foreign private investment funds or investor-owned foreign companies doing it, but not foreign governments. I oppose all socialism, foreign and domestic.

[count-your-change]

Why should anyone work in another’s orchard and not be able to pick a bit of fruit for themselves?

[MrB]

Socialism hasn’t worked throughout history, because those in power weren’t as perfected and enlightened as the leftist/liberals of modern America. /sarc

[rottndog]

The government of Mexico is propped up by the billions sent back by the illegals and by our government having borders that are too open.

The only chance I see to help America and Mexico is to seal the border, deport the people who are not here legally.

That's the truth...Corruption is part of the cultural DNA of Mexico and many other latin-American countries. The only possible solution is to seal the border until the pressure cooker Mexico will become explodes...it's the only way to force that incompetent, utterly corrupt toilet of a country to reform itself and grow up.