huskerbob

Mexico's Woes: Quakes, Flu and Oil Production Collapse

I agree with Freya - Cantarell is a super concentrated field already exploited by gas injection and will continue its steep decline.
Worse is the decline faced by the people of Mexico. The government recieves up to 40% of its revenues from Pemex, a company $96 billion in debt and soon to have no oil for export. They are already struggling with the drug war, this is just piling on.

Pondering the Fate of an Oil Exporter: Squandering One's Inheritance Cheaply

Good article.
Mr. Rogers is correct - he is saying the UK will be a major permanent oil importing nation. They are already a net importer.
We have mismanaged opportunities here too. The US suffered England's fate years ago. The picture above could be 19th century Pennsylvania. We realized in the 70's that we desperately needed to reduce our dependence on imported oil. Haven't made much progress in that direction, and now we will suffer for it. Mexico provides 15% of our imported oil. What will happen to the price as their exports drop to nothing? What will happen to Mexico (and our border states) if they continue to export and neglect their domestic market?
All oil is priced in dollars. What will happen to the price here as that will inevitably change?