Sunday, February 15, 2009

Eye On Mexico

Although I cannot find the data on the Internet, 40% of Mexico’s public funding was reportedly provided by oil exports in 2007. Cantrell is the world’s second largest oil field, after Saudi Arabia’s Ghawar deposits. Cantrell peaked at 2,100,000 MBD in 2003. In July, 2007 the oil output was 1,526,000 BPD. In July, 2008 the oil output was 973,668 BPD. In December, 2008, Cantrell put out 811,000 BPD.

Mexico seems to survive on oil, drugs, tourism, and cheap exported labor. The drug industry seems to be doing well, and other than that, the other three pillars of the Mexican economy seem to be in trouble.

Here is the best information I can find, from Bloomberg, who seems to be out of touch with reality. Mexico banished Gringos from their oil business, and Bloomberg believes that allowing Gringos to help will magically make more oil.

The end result of this will likely be a sudden flood of humanity across the border as anarchy sets in. The question will be the reaction north of the border.

1 comment:

Rivrdog said...

The "peak oil" theory fits Mexico the best.