179 comments on Net Oil Exports and the "Iron Triangle"
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Production peaked in 2004 but profit may have peaked in 2006 because so far prices in 2007 are not higher than in 2006. Problem is that Mexico's importation of oil products is growing rapidly so they reach a negative trade balance sooner than we think (2010?).
This is the important graph. I think if you did this with KSA you will see that their investment in Petrochemicals is going to pay off even as crude oil exports decrease. Iran I don't think so. Norway I don't know. Some of the other Persian gulf countries are also investing heavily in petrochemicals.
The ones without significant petrochemical investments and significant imports are going to be the ones having problems.
Venezuela ??
Where did you find this info btw ?