Oil dollars can be a blessing and a curse. Too much, and a country ends up like Saudi Arabia or Venezuela – corrupt and socially backwards. On the plus side: hey, lots of money. Whatever the case, Mexico is going to get a whole lot more of it:
VERACRUZ, Mexico – President Vicente Fox climbed aboard a drilling platform in the Gulf of Mexico on Tuesday to formally announce a new deep-water oil discovery he said could eventually yield 10 billion barrels of crude oil.
This single find is almost half of the US’s total proven oil reserves – a figure difficult to square with peak oil theory.