This will change US-Mexico relations. The timing is interesting since social democracy is taking hold in South America, putting Mexico between hegemony and democracy with oil hanging as a dangling carrot. Mike Kirk McLoren <[EMAIL PROTECTED]> wrote: Wednesday, 15 March 2006, 11:44 GMThttp://news.bbc.co.uk/2/hi/americas/4808466.stmMexico discovers 'huge' oil fieldMexican President Vicente Fox has announced the discovery of a newdeep-water oil field, which is believed to contain 10bn barrels of crude.The field is in the Gulf of Mexico, and Mexico says it could be biggerthan its largest oil field, Cantarell.Production there is said to have declined sharply in recent years.Mr Fox made the announcement as figures showed the country's total oilreserves had fallen 2% between 2003 and
2005.Perforation of the well known as Noxal 1, which is located about 100km(60 miles) from the port of Coatzacoalcos on the coast of Veracruzstate, started in December.The oil is under 930 metres (0.6 miles) of water and a further 4,000metres (2.5 miles) underground.Visiting the drilling platform, Mr Fox said: "With Noxal we will begin anew era of oil exploration in our country."The government says its investment in exploration will enable Mexico tomaintain its current output in the future.With at least 3.4m barrels per day, Mexico is Latin America's largestcrude producer ahead of Venezuela and Brazil, according to theInternational Energy Agency (IEA).The oil industry provides one third of the Mexican state income. Morethan half the crude extracted is exported, mainly to the United States.The state-owned company Petroleos Mexicanos (Pemex) is among the biggestplayers in the international oil
market.Mexico is not a member of oil producers' cartel Opec.___
Biofuel mailing list
Biofuel@sustainablelists.org
http://sustainablelists.org/mailman/listinfo/biofuel_sustainablelists.org
Biofuel at Journey to Forever:
http://journeytoforever.org/biofuel.html
Search the combined Biofuel and Biofuels-biz list archives (50,000 messages):
http://www.mail-archive.com/biofuel@sustainablelists.org/
