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52 comments on IEA Monthly Report

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deepblade on March 14, 2006 - 6:16pm

Take a look at the context:

The fastest way for Pemex to get the oil out would be by forming alliances with companies that have the deep-water technology. However, current laws forbid private companies from exploration and production activities in Mexico except when they are under contract to Pemex.
Energy Secretary Fernando Canales told Dow Jones Newswires the ban on Pemex forming alliances for deep-water drilling would slow down the process of developing the reserves, but won't keep Pemex from getting at the oil.
"We don't need just one, but many wells," Canales said.
He declined to give further details of the new oil find.
The Fox administration has been attempting to ease foreign investment restrictions in the state-run energy sector. But all his initiatives have been blocked by the opposition-dominated Congress.

Hmmmm, the size of the ``find'' sounds like dreaming. But the tantilization may clear out opposition to neoliberal policy.

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wkwillis on March 15, 2006 - 12:19pm

That's quite easy to fix. You don't even have to change the no foreign companies policy. Since rigs are back ordered several years, you can hire the people with the skills and get them up and running long before you get the rigs built and in place. It's going to be a while before you even know what's there, let alone need to plan the development.

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