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Posted: 12/11/2013 1:03:03 PM EDT
Mexico's Senate has approved a measure to open the state-run oil fields to foreign investment for the first time in 75 years.
The measure would let private firms explore and extract oil and gas with state-run firm Pemex, and take a share of the profits. It now moves to the lower house to be voted on, where it is expected to pass. President Enrique Pena Nieto wrote on Twitter that it was "a significant decision for Mexico". Mr Pena Nieto said it was necessary to modernise Mexico's energy sector and increase oil production, which has dropped from 3.4 million barrels per day in 2004 to the current rate of 2.5 million barrels per day. However, the left-wing Democratic Revolution Party said it was a submission to US oil companies, and protestors set up camp outside the Senate. They say the move strikes at the heart of Mexico's identity. In 1938, then-president Lazaro Cardenas nationalised the oil industry, which had been operated by foreigners up to that point, asserting that Mexico had a right to its mineral wealth. If the measure passes Mexico's Congress, it must then be approved by 17 of the country's 32 federal entities. http://www.bbc.co.uk/news/business-25341887 |
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Posted: 12/11/2013 1:05:09 PM EDT
[#1]
Probably a good idea.
Sad that some of their citizens tie their national identity to oil production, though. WTF is that about?
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Posted: 12/11/2013 1:06:18 PM EDT
[#2]
Have non-Mexican oil companies spend Billions in infrastructure improvement then nationalize/steal it again.
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Posted: 12/11/2013 1:07:24 PM EDT
[#3]
Quote HistoryQuoted:
Have non-Mexican oil companies spend Billions in infrastructure improvement then nationalize/steal it again. This. Cue Admiral Ackbar. 
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Posted: 12/11/2013 1:08:28 PM EDT
[#4]
It sounds good, but getting the oil out of the ground could cost you an arm and a head...
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Posted: 12/11/2013 1:09:41 PM EDT
[#5]
Quote HistoryQuoted:
Have non-Mexican oil companies spend Billions in infrastructure improvement then nationalize/steal it again. The People's Republic of China would never stand for that. |
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Posted: 12/11/2013 1:11:11 PM EDT
[#6]
Quote HistoryQuoted: Have non-Mexican oil companies spend Billions in infrastructure improvement then nationalize/steal it again. Worked last time....and the time before that......and the time before that..... |
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Posted: 12/11/2013 1:20:12 PM EDT
[#7]
It drives me absolutely nuts to read stories like this. Mexico has some of the largest unexploited oil reserves in the world, much of it light, sweet crude, not like that sulpher laden shit that Venezuela keeps pumping out. The problem is that PEMEX lacks the technical expertise to get the oil out, but because it's nationalized, won't allow foreign investment from the people that know how to get it out. Mexicans cry out, "that's our oil, our national treasure, our birthright!" Tell me then, geniuses, when was the last time the Mexican government cut a check to you for the oil profits? Jesus, Mexico could be one of the richest countries in the world with a shit-ton of oil, natural gas, copper, etc. But no, because Mexico City is still pissed about the ass whipping they got in the Mexican-American war, they've always resisted US investment, to their detriment only. The real problem with Mexico is that it has been, is currently, and always will be run by heads filled with Mexican brains.
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Posted: 12/11/2013 1:21:56 PM EDT
[#8]
Quote HistoryQuoted:
It drives me absolutely nuts to read stories like this. Mexico has some of the largest unexploited oil reserves in the world, much of it light, sweet crude, not like that sulpher laden shit that Venezuela keeps pumping out. The problem is that PEMEX lacks the technical expertise to get the oil out, but because it's nationalized, won't allow foreign investment from the people that know how to get it out. Mexicans cry out, "that's our oil, our national treasure, our birthright!" Tell me then, geniuses, when was the last time the Mexican government cut a check to you for the oil profits? Jesus, Mexico could be one of the richest countries in the world with a shit-ton of oil, natural gas, copper, etc. But no, because Mexico City is still pissed about the ass whipping they got in the Mexican-American war, they've always resisted US investment, to their detriment only. The real problem with Mexico is that it has been, is currently, and always will be run by heads filled with Mexican brains. We could lead the great resource expedition of 2014  . I think we'll need at least half of GD though.
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Posted: 12/11/2013 1:23:06 PM EDT
[#9]
Quote HistoryQuoted:
Worked last time....and the time before that......and the time before that..... Quote HistoryQuoted:
Quoted:
Have non-Mexican oil companies spend Billions in infrastructure improvement then nationalize/steal it again. Worked last time....and the time before that......and the time before that..... I'll give you that, but it just reinforces my point of the Mexican habit of killing the golden goose. Mexican oil production has been steadily declining, they know they're fucked so they're reaching out again. |
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Posted: 12/11/2013 1:23:26 PM EDT
[#10]
Quote HistoryQuoted:
It sounds good, but getting the oil out of the ground could cost you an arm and a head... +1 |
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Posted: 12/11/2013 1:26:57 PM EDT
[#11]
Can wait to see the cartels destroying pipelines and kidnaping and murdering workers when they start nting "protection" money.
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Posted: 12/11/2013 1:28:00 PM EDT
[#12]
Mexico sucks
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Posted: 12/11/2013 1:34:12 PM EDT
[#13]
Quote HistoryQuoted:
Mexico sucks But we only invested in, built up, lost, and continue to buy oil from the Middle East because they are tidy, respectful and generally well-mannered neighbors who are an absolute dream to work with professionally? At least with Mexico we can not-build a pipeline to pump it directly into the tank behind my house...
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Posted: 12/11/2013 1:34:28 PM EDT
[#14]
So if they let the US invest in the Mexican oil industry will that cause a sucking sound in the US ie mexicans going home because there is now work in their own country?
Where do I send a check? |
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Posted: 12/11/2013 1:40:43 PM EDT
[#15]
Quote HistoryQuoted:
Can what to see the cartels destroying pipelines and kidnaping and murdering works when they start wanting "protection" money. This is a fair criticism of any deal that might go through, but at the same time, any companies (e.g. Halliburton) that would partner up with PEMEX would have to force Mexico to grant private security concessions. Up to this point, the only resistance the cartels have faced in Mexico are the largely corrupt and ineffective Mexican police and military. The new companies are going to want guarantees for the safety of their infrastructure and personnel. Shit, half of the problems that PEMEX has isn't because of the cartels, it's regular people drilling fucking holes in their major pipelines and siphoning off gasoline to sell on the black market. Most of the easy to get to oil is about tapped out, Mexico included. That's why their production has dropped so significantly in the last couple of years, to the point that they're importing oil. The unfrozen caveman drilling engineers they have working at PEMEX don't have the expertise to get it out of the deep water, nor do they have the expertise to get it out of the land in Mexico, which happens to be a difficult process due to the geological makeup of the larger inland oilfields. |
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Posted: 12/11/2013 1:42:06 PM EDT
[#16]
Quote HistoryQuoted:
So if they let the US invest in the Mexican oil industry will that cause a sucking sound in the US ie mexicans going home because there is now work in their own country? Where do I send a check? Hell yes. I want Mexicans to be rich in Mexico, not illiterate, illegal, and poor in the US. Better for us, better for them. |
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Posted: 12/11/2013 1:48:56 PM EDT
[#17]
Quote HistoryQuoted:
Have non-Mexican oil companies spend Billions in infrastructure improvement then nationalize/steal it again. Worked for Venezuela and Russia! |
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Posted: 12/11/2013 1:52:51 PM EDT
[#18]
Quote HistoryQuoted:
Hell yes. I want Mexicans to be rich in Mexico, not illiterate, illegal, and poor in the US. Better for us, better for them. Quote HistoryQuoted:
Quoted:
So if they let the US invest in the Mexican oil industry will that cause a sucking sound in the US ie mexicans going home because there is now work in their own country? Where do I send a check? Hell yes. I want Mexicans to be rich in Mexico, not illiterate, illegal, and poor in the US. Better for us, better for them. The only Mexicans who will see any significant oil money will be the same ones that are lobbying like hell to force us to stop enforcing our borders. Now they'll just have more money to do it.
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Posted: 12/11/2013 2:08:31 PM EDT
[#19]
Quote HistoryQuoted:
Have non-Mexican oil companies spend Billions in infrastructure improvement then nationalize/steal it again. Yep |
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Posted: 12/11/2013 2:35:50 PM EDT
[#20]
This has been in the works for awhile. I have been inside Pemex/PMI headquarters twice for business and am currently planning a third trip.
There are some great people working inside so hopefully it works out. as for the cartels messing with Pemex, I don't think that will be a problem. Also, comparing all the top security military facilities I have been in, they can't hold a candle to what it akes to get inside senior management offices inside Pemex. |
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Posted: 12/11/2013 2:40:10 PM EDT
[#21]
Quote HistoryQuoted:
This has been in the works for awhile. I have been inside Pemex/PMI headquarters twice for business and am currently planning a third trip. There are some great people working inside so hopefully it works out. as for the cartels messing with Pemex, I don't think that will be a problem. Also, comparing all the top security military facilities I have been in, they can't hold a candle to what it akes to get inside senior management offices inside Pemex. Would like to hear your insights on the topic if you wish to share. |
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Posted: 12/11/2013 2:46:34 PM EDT
[#22]
Quote HistoryQuoted:
It sounds good, but getting the oil out of the ground could cost you an arm and a head... lol |
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Posted: 12/11/2013 2:48:20 PM EDT
[#23]
Quote HistoryQuoted: Can wait to see the cartels destroying pipelines and kidnaping and murdering workers when they start nting "protection" money. |
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Posted: 12/11/2013 2:51:39 PM EDT
[#24]
Quote HistoryQuoted:
The People's Republic of China would never stand for that. Quote HistoryQuoted:
Quoted:
Have non-Mexican oil companies spend Billions in infrastructure improvement then nationalize/steal it again. The People's Republic of China would never stand for that. Yea, they might tow their aircraft carrier offshore and crash a jet or two into a tourist resort. |
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Posted: 12/11/2013 2:52:26 PM EDT
[#25]
it'll shut down during siesta
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Posted: 12/11/2013 2:58:11 PM EDT
[#26]
Quote HistoryQuoted:
It drives me absolutely nuts to read stories like this. Mexico has some of the largest unexploited oil reserves in the world, much of it light, sweet crude, not like that sulpher laden shit that Venezuela keeps pumping out. The problem is that PEMEX lacks the technical expertise to get the oil out, but because it's nationalized, won't allow foreign investment from the people that know how to get it out. Mexicans cry out, "that's our oil, our national treasure, our birthright!" Tell me then, geniuses, when was the last time the Mexican government cut a check to you for the oil profits? Jesus, Mexico could be one of the richest countries in the world with a shit-ton of oil, natural gas, copper, etc. But no, because Mexico City is still pissed about the ass whipping they got in the Mexican-American war, they've always resisted US investment, to their detriment only. The real problem with Mexico is that it has been, is currently, and always will be run by heads filled with Mexican brains. Not only does Pemex lack the knowhow; but rather than reinvest profits into their infrastructure and exploration, something like 60% of their revenue goes to support Mexico's FSA - which is one more reason Pemex needs foreign investment and why the Mexican left don't want it. They know that foreign investment is money they can't appropriate to buy votes. |
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Posted: 12/11/2013 3:07:00 PM EDT
[#27]
Quote HistoryQuoted:
Would like to hear your insights on the topic if you wish to share. Quote HistoryQuoted:
Quoted:
This has been in the works for awhile. I have been inside Pemex/PMI headquarters twice for business and am currently planning a third trip. There are some great people working inside so hopefully it works out. as for the cartels messing with Pemex, I don't think that will be a problem. Also, comparing all the top security military facilities I have been in, they can't hold a candle to what it akes to get inside senior management offices inside Pemex. Would like to hear your insights on the topic if you wish to share. I don't want to say much right now, let's wait and see what they end up doing first. |
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Posted: 12/11/2013 3:08:37 PM EDT
[#28]
Mexico's oil discovery and production has been tanking for about a decade. They do not have the skills to turn it around. The choice is open up to the private industry and have money for the FSA and politically connected class, or not have any money at all. Liberals run Mexico, so this shows how hard of a choice they made.
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Posted: 12/11/2013 3:17:21 PM EDT
[#29]
Quote HistoryQuoted:
It drives me absolutely nuts to read stories like this. Mexico has some of the largest unexploited oil reserves in the world, much of it light, sweet crude, not like that sulpher laden shit that Venezuela keeps pumping out. The problem is that PEMEX lacks the technical expertise to get the oil out, but because it's nationalized, won't allow foreign investment from the people that know how to get it out. Mexicans cry out, "that's our oil, our national treasure, our birthright!" Tell me then, geniuses, when was the last time the Mexican government cut a check to you for the oil profits? Jesus, Mexico could be one of the richest countries in the world with a shit-ton of oil, natural gas, copper, etc. But no, because Mexico City is still pissed about the ass whipping they got in the Mexican-American war, they've always resisted US investment, to their detriment only. The real problem with Mexico is that it has been, is currently, and always will be run by heads filled with Mexican brains. A free, prosperous Mexico would be the best thing that happened to both our nations. Sadly, not in the cards. Socialsts, drug cartels, the elite and the doers of entrenched corruption will see to that. Mexico has all the raw ingredients to be a strong first world nation. Abundant natural resources, warm climate, fertile soil, beautiful coastlines, hardworking people, etc. Sadly, forever (at least for the foreseeable future) ruined by their government, racism, classism and corruption. |
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Posted: 12/11/2013 3:27:04 PM EDT
[#30]
Quote HistoryQuoted:
Would like to hear your insights on the topic if you wish to share. Quote HistoryQuoted:
Quoted:
This has been in the works for awhile. I have been inside Pemex/PMI headquarters twice for business and am currently planning a third trip. There are some great people working inside so hopefully it works out. as for the cartels messing with Pemex, I don't think that will be a problem. Also, comparing all the top security military facilities I have been in, they can't hold a candle to what it akes to get inside senior management offices inside Pemex. Would like to hear your insights on the topic if you wish to share. |
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Posted: 12/11/2013 3:28:59 PM EDT
[#31]
Bring it on baby! Mr Gary and his fleet of orange boats want a crack at that contract first!
More open positions for me to snag! 
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Posted: 12/11/2013 3:29:43 PM EDT
[#32]
Quote HistoryQuoted:
It drives me absolutely nuts to read stories like this. Mexico has some of the largest unexploited oil reserves in the world, much of it light, sweet crude, not like that sulpher laden shit that Venezuela keeps pumping out. The problem is that PEMEX lacks the technical expertise to get the oil out, but because it's nationalized, won't allow foreign investment from the people that know how to get it out. Mexicans cry out, "that's our oil, our national treasure, our birthright!" Tell me then, geniuses, when was the last time the Mexican government cut a check to you for the oil profits? Jesus, Mexico could be one of the richest countries in the world with a shit-ton of oil, natural gas, copper, etc. But no, because Mexico City is still pissed about the ass whipping they got in the Mexican-American war, they've always resisted US investment, to their detriment only. The real problem with Mexico is that it has been, is currently, and always will be run by heads filled with Mexican brains. At the rate the communists are destroying our nation, we'll be working for the rich Mexican's soon enough! Wonder how the Arab nations are taking all this? |
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Posted: 12/11/2013 3:31:28 PM EDT
[#33]
Quote HistoryQuoted:
At the rate the communists are destroying our nation, we'll be working for the rich Mexican's soon enough! Wonder how the Arab nations are taking all this? Quote HistoryQuoted:
Quoted:
It drives me absolutely nuts to read stories like this. Mexico has some of the largest unexploited oil reserves in the world, much of it light, sweet crude, not like that sulpher laden shit that Venezuela keeps pumping out. The problem is that PEMEX lacks the technical expertise to get the oil out, but because it's nationalized, won't allow foreign investment from the people that know how to get it out. Mexicans cry out, "that's our oil, our national treasure, our birthright!" Tell me then, geniuses, when was the last time the Mexican government cut a check to you for the oil profits? Jesus, Mexico could be one of the richest countries in the world with a shit-ton of oil, natural gas, copper, etc. But no, because Mexico City is still pissed about the ass whipping they got in the Mexican-American war, they've always resisted US investment, to their detriment only. The real problem with Mexico is that it has been, is currently, and always will be run by heads filled with Mexican brains. At the rate the communists are destroying our nation, we'll be working for the rich Mexican's soon enough! Wonder how the Arab nations are taking all this? Maybe all the illegals will go home if Mehico can reverse its failures. I wonder if they will let us gringos immigrate illegally?? Nope! Its in their Constitution to deport all illegals immediately! And the Arabs are probably scared to death of whats going to happen when their oil goes away. |
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Posted: 12/11/2013 5:04:05 PM EDT
[#34]
If it fucks over the arabs it makes me happy.
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Posted: 12/11/2013 5:06:47 PM EDT
[#35]
The problem is that PEMEX lacks the technical expertise to get the oil out, but because it's nationalized, won't allow foreign investment from the people that know how to get it out. Mexicans cry out, "that's our oil, our national treasure, our birthright!" Tell me then, geniuses, when was the last time the Mexican government cut a check to you for the oil profits? Jesus, Mexico could be one of the richest countries in the world with a shit-ton of oil, natural gas, copper, etc.
http://goo.gl/MhX8nd |
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