Anyone have info why this have not been explored. Mexico has reserves of
oil estimated by industry analysts at 60 billion to 120 billion barrels in the
deep-water Gulf, that has gone undeveloped.
What is the problem?
Mexico could make North America the world leader in oil production.
by James Mixon 6 Replies latest jw friends
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OnTheWayOut
Is it "Mexico's" oil if it's deepwater gulf? I mean, isn't it international and the oil companies are getting around to taking it? -
Vidiot
I suspect North America is already the world leader in oil production, and that it's just not common knowledge amongst the general public. -
Clambake
The world is awash in oil right now. There is no need to go after potentially environmentally hazardous and expensive reserves right now. Some of those deep water wells cost upwards of 1 billion dollars per well. At 50 dollars a barrel that doesn’t pay.
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James Mixon
Here's a thought, how much does it depend on cheap labor from the
south. If Mexico tap into it's oil reserve and this create thousand of jobs
ending the flow of illegal immigrants, why not. Here in California we are
paying 5 bucks a gallon for gas. If this happen Mexico will have to close it borders.
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DJS
Ditto to what Clambake said. -
James Mixon
I just found this, "Fuel Fix" from the Houston Chronicle" July 14 2015.
Bidding for Mexico"s Gulf blocks to open Wednesday, with Exxon, Chevron
among other interested US companies .
Mexico's regulators expect on Wednesday july 14, 2015 to complete the first
auction in an ambitious program that will open the country's oil and gas sector
to private companies after decades of state control. This is the first time in more
than 75 years that an entity other than Pemex is going to be able to own physical
oil inside of Mexico.
Those oil companies don't give a crap about environmentally hazardous.