Mexican Oilfield Crucial to U.S. Facing Decline

Mexico’s giant Cantarell oilfield, which has financed government spending and held down U.S. gasoline prices for 20 years, is facing a production decline, a prospect that could heighten U.S. dependence on Middle East oil.

An internal report from Mexico’s state-owned oil company, leaked last month, said water and gas were seeping into the massive offshore oil field in the southern Gulf of Mexico. That development would reduce Mexican oil output, which would be bad news for U.S. consumers. Mexico is the second-largest supplier of oil to the U.S. market.
Santa Barbara News-Press