Wednesday, December 16, 2009

Why are we paying so much for oil in the middle east when Mexico has such a massive oil supply?

I understand how we got into the oil industry in the middle east with our foreign relations through the century, but Mexico in just over the last decade has discovered a massive amount of oil underneath their land, they are so close, and with their government relatively stable, why can't we just help them out starting with their oil industry so we won't be under the power of the middle eastern oil prices?Why are we paying so much for oil in the middle east when Mexico has such a massive oil supply?
Mexico has already passed peak oil. They use 60% of their oil for their own use. Once a field hits peak and the country uses it for domestic use, the price goes up. Check out Jim Kunstler. He's pretty spot on when it comes to peak oil.Why are we paying so much for oil in the middle east when Mexico has such a massive oil supply?
you really need to check your sources a little better. Mexico has just about run out of oil without discovering some new fields and they need a large amount of external money injection just to keep what they have running.
The price of oil is determined by the world market. Oil from Mexico costs the same as oil from anywhere else.

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