Down in Mexico, Pres. Pena-Nieto is desperately trying to reform PEMEX. Unfortunately, the Mexican left has the same short sighted attitude toward energy reform that our Dems have about Social Security.
PEMEX is the Mexican sacred cow. Social Security is ours.
For several years, we've been dealing with the reality that Mexico will be running out of oil to export:
"Crude production in Mexico could fall dramatically by 2015 if a reform bill before Congress is not passed, the head of state oil company Pemex said on Tuesday.
From today's production of around 2.9 million barrels a day (bpd), Pemex's production levels could fall by around 1.2 million bpd by 2015 without this reform," Jesus Reyes Heroles told journalists in Madrid."
We can rely on Canada. We can not rely on Mexico.