Saturday, January 13, 2007
Peak Oil - Mexico
Today's Drumbeat includes many comments about an article (in Spanish) discussing the 'nosedive' coming in PEMEX oil production this year. The Canatarell field is crashing, and this has implications for the Mexican economy. Conventional wisdom asserts that the current Mexican economy is an important driver for the waves of immigrants coming to El Norte. If Cantarell's production is not available for export, what happens then to Mexico's economy? Is Cantarell a marginal player, or is it more important than we realize? Rhetorical questions at this point on my part, but some of The Oil Drum's posters believe the handwriting may be on the wall, and it reads "more immigrants on the way." If they are right, will we be ready?