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Free Markets Do Work

October 19, 2009

Mexico will become a net importer of oil by 2017

and now it is the seventh largest producer in the

world.

Why? The government runs Pemex and the

constitution prohibits private investment.

There are about 50 billion barrels in the Gulf

of Mexico and to recover the oil the annual

investment of $3 billion would have to jump

to $10 billion.

In a country where 143,000 workers at Pemex

is at least 25,000 to  many, don’t count on it.

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