Mexicans want to know where oil money has gone

An expected bonanza for Mexico’s state-run oil company hasn’t happened, and conspiracy theories are rampant.

MEXICO CITY

But the Mexican government announced last month that not only was there no surplus oil money, but that Pemex, Mexico’s nationalized oil company, had actually lost nearly $1 billion in the year’s first three months.

It didn’t take long for conspiracy theories to fly.