North America to Drown in Oil as Mexico Ends Monopoly

[mota bhai 2,675]

The flood of North American crude oil is set to become a deluge as Mexico dismantles a 75-year-old barrier to foreign investment in its oil fields.

...

The doubling in Mexican oil output that Citigroup Inc. said may result from inviting international explorers to drill would be equivalent to adding another Nigeria to world supply, or about 2.5 million barrels a day.

That boom would augment a supply surge from U.S. and Canadian wells that Exxon Mobil Corp. (XOM) predicts will vault North American production ahead of every OPEC member except Saudi Arabia within two years.

...

An influx of Mexican oil would contribute to a glut that is expected to lower the price of Brent crude, the benchmark for more than half the world’s crude that has averaged $108.62 a barrel this year, to as low as $88 a barrel in 2017, based on estimates from analysts in a Bloomberg survey.

...

Some of the potential shale production sits across the border from Texas’s prolific Eagle Ford formation. The most resource-rich area studied so far is around the city of Tampico, a coastal city about 300 miles (480 kilometers) south of the bottom tip of the Texas border.

http://www.bloomberg.com/news/2013-12-16/north-america-to-drown-in-oil-as-mexico-ends-monopoly.html

[GandD 5,966]

Sweet, now maybe my generation won't have to worry about a replacement. Good luck to the next guys.

[I AM NOT THAT GUY 5,715]

This should piss off the greenies to no end.

[GandD 5,966]

I'm all for using oil to transition us off to something better. This SHOULD be common sense, but alas............

[mota bhai 2,675]

artificially inflating our COL is not common sense IMO.

[I AM NOT THAT GUY 5,715]

I'm all for using oil to transition us off to something better. This SHOULD be common sense, but alas............

Oil makes people rich, it is affordable, and it is successful, so the hippies hate it.

[GandD 5,966]

Oil makes people rich, it is affordable, and it is successful, so the hippies hate it.

It has a shelf life and tons of disadvantages. Why not use that profit and success to push us to the next level of renewable energy? If I was an oil company, I'd be looking for the next big score in the form of technology.

[spookyturtle 9,466]

I can't wait to see gas for .35 gallon again.

[luckytxn 2,264]

Mexico has no choice. Their fields are getting depleted and there are remedies to make existing fields more productive. Mexico also has has huge potential fields that can tapped using fracking. They know they have it but have no way to tap them.

The new west Texas fields does not stop at the border with Mexico.

The flood of North American crude oil is set to become a deluge as Mexico dismantles a 75-year-old barrier to foreign investment in its oil fields.

...

The doubling in Mexican oil output that Citigroup Inc. said may result from inviting international explorers to drill would be equivalent to adding another Nigeria to world supply, or about 2.5 million barrels a day.

That boom would augment a supply surge from U.S. and Canadian wells that Exxon Mobil Corp. (XOM) predicts will vault North American production ahead of every OPEC member except Saudi Arabia within two years.

...

An influx of Mexican oil would contribute to a glut that is expected to lower the price of Brent crude, the benchmark for more than half the world’s crude that has averaged $108.62 a barrel this year, to as low as $88 a barrel in 2017, based on estimates from analysts in a Bloomberg survey.

...

Some of the potential shale production sits across the border from Texas’s prolific Eagle Ford formation. The most resource-rich area studied so far is around the city of Tampico, a coastal city about 300 miles (480 kilometers) south of the bottom tip of the Texas border.

http://www.bloomberg.com/news/2013-12-16/north-america-to-drown-in-oil-as-mexico-ends-monopoly.html

[mota bhai 2,675]

It has a shelf life and tons of disadvantages. Why not use that profit and success to push us to the next level of renewable energy? If I was an oil company, I'd be looking for the next big score in the form of technology.

If I was an oil company, I'd have an accident or two right off the Chinese coast and I'd ask the NSA to send some of those secret ops dollars my way as compensation.

In fact, there should be a Game thread in the Game forum.

Finish the sentence:

If I was an oil company...

[GandD 5,966]

#goodcall

[mota bhai 2,675]

Hey, China. These waters mean a lot to you, don't they? I can see why. They're good waters. Warm and full of fish.

Would be a real shame if something bad happened to it.

[GandD 5,966]

[JohnR! 5,495]

I can't wait to see gas for .35 gallon again.

Sure... It should be getting there in about 2 weeks or so...!

[spookyturtle 9,466]

Sure... It should be getting there in about 2 weeks or so...!

Good. I'm going to start shopping for a gas guzzler. Maybe a Hummer H1. Or a nice old Caddy with a 500 ci V8.