The last I've read is that their oilfields are a disaster from poor management and lack of investment. They've damaged a lot of oilfields just from
poor extraction practices alone.
Taking Mexican oil/gas out of world markets will not help investment in new refinery/storage infrastructure nor upgrading oil field extraction
technologies. Who would put money into a price controlled (nationalized) oil market?
Are they going to close the LNG terminals too? Another disaster for future global investment money.
But, let's wish them good luck.
JohnJZ - 12-28-2021 at 11:25 AM
Being self-sufficient on energy for you country is a smart policy.
It shelters you from the whims of foreign governments.
JDCanuck - 12-28-2021 at 11:43 AM
Western Canada has certainly learned how disastrous it is to rely on one export country when new tariffs and other import restrictions can destroy
local jobs and economies at the stroke of a pen. Refining locally does seem like a good move to insulate somewhat against foreign politically
motivated decisions.mtgoat666 - 12-28-2021 at 11:52 AM
Being self-sufficient on energy for you country is a smart policy.
It shelters you from the whims of foreign governments.
You have a choice:
Be addicted to oil; or
Get sober.
No such thing as being self-sufficient when you are addicted. Even if country is non-importing, citizens still under thumb of the man.
Look at exporting countries : saudi, gulf states, venezuela, etc. crikey!JZ - 12-28-2021 at 12:08 PM
Goat loves making poor ppl pay $6/gallon and tells them to suck it up and buy $60K EVs that the energy secretary owns stock in.
Thankfully, ppl don't want that and are revolting.
[Edited on 12-28-2021 by JZ]John Harper - 12-28-2021 at 12:19 PM
They might be better off selling the oil, and keeping their natural gas for producing electricity. Then, focus on electrifying the infrastructure so
they can convert to electric vehicle technology. A lot easier to build gas peaker plants than oil refineries. And, stringing power lines is easier
than building pipelines.
Trying to become "self sufficient" based on an exhaustible resource is just postponing the inevitable. It sounds "warm and fuzzy" but is just self
deception.
JohnJDCanuck - 12-28-2021 at 01:08 PM
EV's are the long term answer to a lot of the present oil use for sure. Unfortunately, that is still a longer term solution and it takes investment
that comes from exports to get there. Now if they could run gas plants on Tequila...we'd be fine. Mexico is presently building hi efficiency Nat Gas
combined cycle plants tho fueled by new pipelines out of the US, which is a step ahead. IC engines run at under 20% efficiency (rest is waste heat),
nat gas combined cycle is pushing 65%, so even that would result in big improvements. Is Mexico going to be allowed to produce electric vehicles for
the US market without being punished? https://www.reuters.com/world/americas/mexico-may-appeal-dis...
