Poverty Sucks
StratFor says that Mexico will buck its informal adherence to OPEC policies and pump more oil:
Rising fiscal pressure, combined with the likely end to oil export reductions from other non-OPEC countries, increases the likelihood that Mexico will end its own recent export cutbacks and begin producing and exporting oil at full speed in the third quarter. This will contribute to an expansion in global crude supplies and help counter upward pressure on crude prices due to a potential rise in energy demand in the third quarter.
Even better? President Fox is determined not only to stay within budget deficit limits — despite a lengthy recession — but to make the tax system more honest, fair, and enforceable.
It’s still too soon to say that it’s certain, but here’s to hoping Mexico is soon a full-fledged and fully-functioning member of the First World.
Amen! I’ve always found Mexicans to be great people (here in Texas, they’re pretty much the only immigrants one runs across).
I have always thought it sad that their home country was in such shambles (although knowing that explained why so many of them are willing to risk dying in a desert to come over here).
Hopefully Vincente Fox can make some real changes during his time in office that will last beyond his term(s).
Here’s another gringo standing on the sidelines yelling, “you go, guys!”
If Mexico can finally shed its kleptocratic traditions, the energy and enterprise of the Mexican people will make that country another Hong Kong (pre-handover). Here’s hoping it happens now.