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Well, this could come in handy...

Large oil reserves found in Mexico

First thought - Call my broker and dump oil stocks.

Second thought - If theres no refinery to send it to, does it really exist?

Third thought - In the Life Magazine issue I was going through the other day is a full page Ad for Southern Cal Edison. It shows a hardhat guy "clocking out" at work**. The copy says:

"Why do we need additional power plants?"

YOUR JOB

Thats why we need additional power plants.

From your friends at SCE

Fourth thought - Paul Ehrlich, Call your Office!

Fifth thought - How lame of a government do you have to be, to be sitting on top of huge oil reserves, yet your primary export is people and your capital city is the biggest slum in the western hemisphere?


** Yes, "clocking out" with a paper time card is another thing thats slipped into the mists of time.

Posted @ August 31, 2004 02:36 PM | Current Affairs

Comments

Wouldn't it be nice if we drilled in ANWR and the Mexicans boosted output. We could flood the market and destroy Saudi Arabia and Iran from the inside.

Posted by: Mike at August 31, 2004 03:22 PM

Lame government? Yes, But this only again demonstrates that no link exists between natural resources and wealth.

It also demonstrates the way to wealth is a no brainier; free markets, property rights, enforceable contracts. Create a friendly environment to put capital to work and it will pour in. Mexico should look to the laboratory on it's northern border.

Posted by: Gary B at August 31, 2004 03:24 PM

The Ehrlichian drumbeats were getting louder as of late with the runup in oil prices. After a lull in popularity, the Hubbert's Peak theory seems to be back in vogue as a discussion topic.

But just think of all the fun you can have with this. Decades from now a smarmy filmmaker will accuse sitting President Christopher Schwarzenegger (or perhaps Jack McCain of the powerful McCain political dynasty) of cozy ties to a secretive ruling cabal of Mexican 'royals' just so that Google-Halliburton Corp. can win lucrative contracts...

Posted by: Don at August 31, 2004 03:39 PM

"Ehrlichian" - I like that. I wonder if theres a wikipedia entry for "self-delusional blowbag" on this.

Posted by: Frank Martin at August 31, 2004 05:12 PM

Don't do anything rash, judging by the technical challenges, we've got 10-20+ _years_ lead time before that crude gets into gasoline in any serious quantity.

The technology necessary to exploit that doesn't really exist yet. Nevermind the infra-structure.

Posted by: Fred at September 2, 2004 08:02 AM