http://www.dailywealth.com/1323/One-...-Is-Going-Bust
Snip:
Most Americans don't realize it, but Mexico is a major player in global
oil production. According to the Energy Information Agency, it was the seventh largest
oil-producing country in 2008. Mexico is the U.S.'s second-largest source of imported
oil, behind Canada.
You read that correctly: We import more oil from Mexico than we do Saudi Arabia, Iraq, Kuwait, or any other Middle Eastern country. You don't read about it much in the papers, but Mexico is a critical supplier to American drivers.
Production peaked in 2004 at 2.1 million barrels per day, which accounted for 64% of total oil production at Mexico's state-owned oil company, Pemex. But years and years of mistreating the golden goose has left its world-class oilfield in a sorry state of underproduction. Oil fields are like children... you have to take care of them and invest in their future.