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Canada's ferocious NAFTA growl
Don't worry your head about whether Obama lied about the free trade agreement. The real story is a threat by that petro-state up north to turn off the oil spigot.
Andrew Leonard [2008-02-28]

  • Mexican Oil

    It should be noted that Mexico is our fourth-largest supplier of oil, and that Mexico exports to the US only 500,000 fewer barrels of crude per day than #1 Canada.

    Mexico's big Cantarell field is in collapse.

    http://www.nytimes.com/2007/02/08/business/worldbusiness/08fobriefs-PEMEXOILFIEL_BRF.html?_r=1&oref=slogin

    http://www.energybulletin.net/18505.html

    http://en.wikipedia.org/wiki/Cantarell_Field

    The LA Times reported the decline was twice the company's published predictions. Within 5 years it's estimated production will fall to half of 2004's level. Cantrell *is* the Mexican oil business, so once it goes so do Mexico's imports. Within a decade Mexico could become a net oil importer, which is kind of a problem since Mexico is already perpetually broke even as a major oil exporter.

    If you think the illegal alien problem is a mess now, just wait 'till Mexico's oil-lubed economy really tanks.

    -- sunspot
    [Read sunspot's other letters]
    Friday, February 29, 2008 02:33 AM
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