http://biz.yahoo.com/ap/080421/mexico_oil_production.htmlMany people don't realize it, but Mexico is actually one of the US's top oil suppliers. Unfortunately, they're running out south of the border:
Mexico's state-run oil company said Monday that oil production fell 7.8 percent to 2.91 million barrels a day in the first quarter as current reserves dwindle.
Petroleos Mexicanos, or Pemex, has struggled with falling reserves, especially at its main Cantarell oil field, and lacks the money and expertise to launch new drilling projects. Pemex only has enough proven oil reserves to last nine years at current production rates.
Nine years. And Mexico will be totally drained.
Peak Oil: It's not just a wacko, lefty looney theory anymore.
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