And Water is Wet! (And sometimes oily.) The people of Tabasco, Mexico, are hot under the collar about an oil spill by their national oil company, Pemex. They are especially offended by Pemex's attempts to hide the spill, keeping it secret for four days. On a scale of zero to British Petroleum, this spill was rated as a "5". Oil company under fire for hiding truth about massive spill — here's what happened Bet you didn't see that coming . . .
Mexico many years ago decided to nationalize their oil company and the result has been output and productivity has declined.
Doesn’t seem accurate, Mexico nationalized oil production in 1938, then looks to have had about 70 years of growth after that….
More correctly, exploration and modernization have failed. As old oil fields have become tapped and the technology less efficient, the Mexican government at endless war with drug cartels, has been unable to invest into PEMEX in the way this business needs continuous investment.
Mexico is one of the countries that is running out of oil the fastest. Based on current production rates, they should run out of oil in 11 years. They will, of course, slow down as the end nears and stretch it out a bit, unless they find new oil reserves. Here is how long these countries on the short end of the stick have left, along with their populations (in parentheses) in millions: Malaysia (35), Algeria (47) - 15 years Brazil (213) - 14 years China (1408), Angola (39) - 12 years Mexico (132) - 11 years Indonesia (285) - 10 years Argentina (47) - 9 years Australia (28), Norway (6), USA (340) - 7 years Columbia (53), UK (68) - 6 years India (1429) - 4 years Thailand (66) - 1 year (Almost half of the global population, including that of the U.S., will live in a country without oil production in the next dozen years or so. Remarkable that Putin isn't smart enough to hoard his oil for 15 years and charge whatever he wants for it. Also remarkable that Americans are walking off a cliff in 7 years screaming "Drill, Baby, Drill!" and not waking up to the fact that if the free world does not straighten out Russia, this may be the issue that gives Russia regional supremacy, if not global supremacy.) 15 Drill-Crazy Countries That Are Rapidly Running Out Of Oil
Someone has to do it . . . I still think that "Schytes & Giggles" should have been nominated for a Pulitzer Prize in the short story category.
