Mexico

Submitted by OilPrice

Mexico’s oil and gas regulator said last week that the country’s proved hydrocarbon reserves will drop by 10.6 percent in 2017. This forecast, coupled with the lower oil production that state company Petroleos Mexicanos (Pemex) reported for yet another year in 2016, is painting a rather bleak picture of Mexico’s reserves.

Without resumption in investments and more drilling, and if no significant finds occur, Mexico will be running out of reserves within 9 years, according to an official from the National Hydrocarbons Commission.

After Ford scrapped plans for a new facility in Mexico and continues to flood the White House with press releases detailing normal course capital expenditures to be made on domestic plants, investments that would have been made irrespective of their outsourcing ambitions, it seems as though economics are making a comeback in  guiding the capital allocations of other companies as 'outsourcing' is once again picking up steam among American companies.

Trump's proposed border wall has been described by many of the left as everything from "xenophobic" to just plain "racist" and pretty much everything in between.  That said, perhaps "equal opportunity employer" would be more accurate in light of a new analysis from the Wall Street Journal that took a look at who has submitted bids to help construct the wall so far...in a little dose of irony for the left, hispanic-owned businesses currently lead the charge with 32 bids.

On January 1, 1994, the North American Free Trade Agreement (NAFTA) officially came into effect, virtually eliminating all tariffs and trade restrictions between the United States, Canada, and Mexico. As Visual Capitalist's Jeff Desjardins reminds readers:

President Donald Trump has now laid out exactly what he wants in the "big, beautiful wall" that he's promised to build on the U.S.-Mexico border. But, as AP's Alicia Caldwell reports, his effort to build a huge hurdle to those entering the U.S. illegally faces impediments of its own.