Comments on: Mexico’s economy is weakening http://www.creditwritedowns.com/2009/03/mexicos-economy-is-weakening.html Finance, Economics and Markets Fri, 10 Feb 2012 00:37:00 +0000 hourly 1 By: Edward Harrison http://www.creditwritedowns.com/2009/03/mexicos-economy-is-weakening.html#comment-4349 Edward Harrison Fri, 13 Mar 2009 18:04:57 +0000 http://www.creditwritedowns.com/?p=7048#comment-4349 VangelV, I echo your sentiments. Despite the depression, the underlying problem that created high oil prices before the credit bubble collapsed is still there: peak oil. Non-OPEC oil production has peaked - Mexico, Russia, the UK and Norway in particular. Saudi Arabia is the only country with any reasonable amount of spare production capacity. And doubt exists as to how long Ghawar will be able to produce at these levels. If you want a good read on oil, try Gregor Macdonald's site. This recent entry has some things to say about Mexico and non-OPEC peak oil: http://gregor.us/non-opec/you-peaked-babe/ VangelV,

I echo your sentiments. Despite the depression, the underlying problem that created high oil prices before the credit bubble collapsed is still there: peak oil. Non-OPEC oil production has peaked – Mexico, Russia, the UK and Norway in particular. Saudi Arabia is the only country with any reasonable amount of spare production capacity. And doubt exists as to how long Ghawar will be able to produce at these levels.

If you want a good read on oil, try Gregor Macdonald’s site. This recent entry has some things to say about Mexico and non-OPEC peak oil:

http://gregor.us/non-opec/you-peaked-babe/

]]> By: Vangel http://www.creditwritedowns.com/2009/03/mexicos-economy-is-weakening.html#comment-4347 Vangel Fri, 13 Mar 2009 17:23:10 +0000 http://www.creditwritedowns.com/?p=7048#comment-4347 Mexico has a much more serious problem than crime. Much of its revenues come from its prolific Cantarell oil field but production is rapidly falling and no amount new investment will allow Mexico to produce as much oil from it as it used to. In the absence of this revenue the federal government will have to cut back on many support programs and that is likely to lead to a great deal of social instability. Mexico has a much more serious problem than crime. Much of its revenues come from its prolific Cantarell oil field but production is rapidly falling and no amount new investment will allow Mexico to produce as much oil from it as it used to. In the absence of this revenue the federal government will have to cut back on many support programs and that is likely to lead to a great deal of social instability.

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