Mexico’s Cantarell oil output falls again in July | G.O.O.D

Mountain House Freeze-Dried Food « FDIC may borrow money from Treasury U.S. consumers may pass on convenience and organic foods » Aug 27 2008 Mexico’s Cantarell oil output falls again in July Posted by: Joshuah in Energy, tags: Alternative Energy, Peak Oil, TEOTWAWKI Peak oil anyone? Source: Reuters Crude output from Mexico’s struggling Cantarell oil field fell for the 10th month in a row in July to 974,000 barrels per day, energy ministry data showed on Tuesday. The fading jewel of Mexico’s oil industry, Cantarell is now producing half what it was yielding at its 2004 peak, pulling down overall output in the world’s No. 6 oil-producing nation and threatening Mexico’s status as a top U.S. supplier. The steady decline of around 15 percent annually in the field’s output has pressured the divided Congress to tweak laws in the closed energy sector. The government, with backing from centrists, hopes to push a bill through congress to allow more private participation in the state-run oil business. The conservative government’s proposal seeks to shore up flagging output and reserves by having the national monopoly Pemex hire private companies under incentive-fee contracts, particularly in costly high-risk areas like deepwater oil. Full Story… Powered by ScribeFire. Related Blogs Related Blogs on Peak Oil Related Blogs on TEOTWAWKI WRITING: TEOTWAWKI fiction — Chapter Eighty Six – Rest in Peace WRITING: TEOTWAWKI fiction — It happened in Church - Chapter … WRITING: TEOTWAWKI fiction — It happened in Church - Chapter … WRITING: TEOTWAWKI fiction — It happened in Church - Chapter … WRITING: TEOTWAWKI fiction — It happened in Church - Chapter … This entry was posted on Wednesday, August 27th, 2008 at 8:26 pm and is filed under Energy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site. Leave a Reply You must be logged in to post a comment. Login »
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Creative Commons Attribution 3.0 United States

Creative Commons Attribution 3.0 United States