Mexico, U.S. sign cross-border deep water oil deal[Obama Pretends To Care About Energy]

al-Reuters ^ | 2/20/12 | Andrew Quinn

[SoFloFreeper]

Mexico and the United States signed an agreement on Monday to help U.S. firms and Mexican oil monopoly Pemex exploit deep water oil resources in the Gulf of Mexico that straddle the countries' maritime boundaries.

The deal, negotiated last year, will lift the moratorium on oil and gas exploration and production for 1.5 million acres in the Gulf and sets up legal guidelines for companies to jointly develop any trans-boundary reservoirs.

[SoFloFreeper]

Pro-Obama media were pleasuring themselves over the airwaves today about this--they think it innoculates their hero from high oil price criticism.

[tobyhill]

So I guess tomorrow we can expect to see $2 a gallon?

[C210N]

Inoculation? Won’t work, no amount of inoculation makes up for Keystone.

[what's up]

Note how much of the story is allocated to the Mexican company...hardly anything about how the US will benefit.

No doubt this deal is more about making sure a foreign country gets a big piece of the pie in the inevitable Gulf drilling which is coming; Ms. Hillary just can't stand to see the US benefit.

[Hoosier-Daddy]

Ever get the impression that Obama only approves Third World transactions where kick-backs are SOP, rather than First World Countries that will prosecute if discovered.

[Dusty Road]

Thats an area just a little bigger than our county.