[eastbay]

Ok, so Mexico's selling the USA around 2 mb/week less than it was a year ago. So, how is the USA making up for this 100 million bbls/yr of oil shortfall? Who's selling the USA more by 100 mb/yr? How much longer can it scrounge around the planet replacing oil from depleting foreign oilfields?

[burtonridr]

$this->bbcode_second_pass_quote('frankthetank', 'R')egime change! Turn those 150,000 soldiers in Iraq into the new Mexico City police force.

[newman1979]

Pemex cuts target to 2.8M barrels a day
Compiled from Herald News Services
Published: Thursday, July 31, 2008
Petroleos Mexicanos, the third-largest oil supplier to the U.S., lowered its crude oil production target for a second time in as many months as its largest field, Cantarell, declined faster than forecast.

Pemex, as the Mexican state-owned oil company is known, expects to produce 2.8 million barrels a day this year, said Vinicio Suro, managing director of planning and evaluation at Pemex's exploration and production unit, on a conference call today with analysts.

Chief executive Jesus Reyes Heroles said on May 29 that Pemex lowered its daily production target for 2008 to 2.9 million barrels from 3.1 million barrels. A four-year decline in output and reserves is putting pressure on Pemex to increase funding to boost exploration
Pemex pumped 2.856 million barrels a day in the first six months of the year, a 9.7 per cent decline from 3.162 million barrels a year ago.
From this release yesterday, It is clear that imports from Mexico will continue to fall faster than anyone thought possible. The scale of this fall can be demonstrated by comparing that the four largest GOM fields in the U.S. only total 1 m/b/d production. In three years Cantarell will have caused the U.S. to lose the equivalent of the three largest GOM fields permanently and one more year to lose the fourth.
Mexico subsidizes gasoline domestically from 350,000 b/d imported from the U.S. These facts weigh on our gasoline markets and oil markets and are not reported or analyzed in the media in general.

[dohboi]

More main stream coverage of Peak.

Mexican Oil

"Since 2005, daily production has dropped more than 300,000 barrels per day, or roughly 10 percent -- and this at a time of historically high global prices. Reserves have been falling since the mid-1980s. This is relevant to U.S. consumers, because Mexico is the second-largest exporter of oil to the United States, behind Canada.

Mexico, which is not a member of the Organization of Petroleum Exporting Countries, was the world's sixth-largest oil producer in 2006. But many analysts believe that Mexican production has peaked and will decline in coming years, according to the U.S. Energy Information Administration."

Very old news to those on this forum, but part of an increasing number of articles covering aspects of PO in MSM lately.

[TheDude]

Voters have rejected foreign involvement in Mexican oil production. Curiously though the nitrogen injection system at Cantarell was built by 6 companies including US Fluor and Westcoast Energy of Canada. Wonder how they slipped that under the radar?

[Tyler_JC]

Mexico is a prime example of what happens when you stick it to the big evil oil companies.

Mexico doesn't just have a windfall profits tax, they use oil tax money to fund 40% of their federal government.

[Twilight]

$this->bbcode_second_pass_quote('Tyler_JC', 'M')exico is a prime example of what happens when you stick it to the big evil oil companies.

Mexico doesn't just have a windfall profits tax, they use oil tax money to fund 40% of their federal government.

[Cashmere]

$this->bbcode_second_pass_quote('Twilight', '')$this->bbcode_second_pass_quote('Tyler_JC', 'M')exico is a prime example of what happens when you stick it to the big evil oil companies.

Mexico doesn't just have a windfall profits tax, they use oil tax money to fund 40% of their federal government.

[Starvid]

How is that wall of yours going?

[Bas]

$this->bbcode_second_pass_quote('Tyler_JC', 'M')exico is a prime example of what happens when you stick it to the big evil oil companies.

Mexico doesn't just have a windfall profits tax, they use oil tax money to fund 40% of their federal government.

[Concerned]

$this->bbcode_second_pass_quote('Tyler_JC', 'M')exico is a prime example of what happens when you stick it to the big evil oil companies.

Mexico doesn't just have a windfall profits tax, they use oil tax money to fund 40% of their federal government.

[Pretorian]

$this->bbcode_second_pass_quote('Tyler_JC', '
')Mexico doesn't just have a windfall profits tax, they use oil tax money to fund 40% of their federal government.

[ROCKMAN]

Bas,

You might want to update the doings of SA oil/gas. With the exception of Brazil, things have gotten pretty bad done there are are getting worse. And the reason Bz doing well is that Petrobras (owned 60% by the Bz gov't) is a public company run on a for-profit basis. That and they fact that they also encourage foreign companies to drill there.

But don’t that change your story. I work in the US oil patch and anything that hinders oil development overseas benefits me.

[Starvid]

$this->bbcode_second_pass_quote('ROCKMAN', 'B')as,

You might want to update the doings of SA oil/gas. With the exception of Brazil, things have gotten pretty bad done there are are getting worse. And the reason Bz doing well is that Petrobras (owned 60% by the Bz gov't) is a public company run on a for-profit basis. That and they fact that they also encourage foreign companies to drill there.

But don’t that change your story. I work in the US oil patch and anything that hinders oil development overseas benefits me.

[timmatoil]

I was curious about who everyone thinks could benefit from the weak Peso? I was thinking that perhaps foreign miners could greatly benefit from the cheaper labor and potentially cheaper mining companies in Mexico(as acquisitions). Any thoughts?

[Plantagenet]

$this->bbcode_second_pass_quote('timmatoil', 'I') was curious about who everyone thinks could benefit from the weak Peso? I was thinking that perhaps foreign miners could greatly benefit from the cheaper labor and potentially cheaper mining companies in Mexico(as acquisitions). Any thoughts?

[deMolay]

Citizens protesting Government oppression from the drug wars. http://www.time.com/time/world/article/ ... 82,00.html

[Blacksmith]

Government of Canada
TRAVEL REPORT

Canadians travelling to Mexico should exercise a high degree of caution due to occasional demonstrations and protests, and due to high levels of criminal activity, some involving the use of violence.

[deMolay]

http://www.bloomberg.com/apps/news?pid=20601086&sid=axu42OVmfsj0&refer=latin_america Mexico is pissed at the US over trucking ban and has imposed tariffs on 90 items.

[deMolay]

Mexico Imposes Tariffs on U.S. Amid Trucking Dispute (Update1)
By Mark Drajem

March 17 (Bloomberg) -- Mexico set the stage for the first trade war of President Barack Obama’s administration by slapping import tariffs on $2.4 billion of U.S. goods in retaliation for a ban of its trucks from American roads.

The tariffs, on about 90 items from 40 states, were imposed by Economy Minister Gerardo Ruiz Mateos yesterday after the U.S. suspended a program to allow Mexican 18-wheelers to deliver goods across the border. U.S. Republican lawmakers said Mexico, which didn’t provide details, would impose tariffs on farm goods such as rice, beef, wheat and beans.