The oil is running out: Mexican president

Mexican President Felipe Calderon says Mexico’s “is running out,” and calls
the problem “very serious.”

Production is falling at Mexico’s old, shallow-water offshore fields and the country has yet to exploit is potential deep-water reserves.
Calderon told the Televisa news network in an interview broadcast Tuesday that he still expected to be able to check the decline in oil output by next year, after his administration pushed through reforms aimed at spurring deep-water drilling.

China Post