Mexico No Longer A Net Exporter

by Chris

Mexico is now a net importer of oil.  Here’s the data.

Here’s consumption (down, but still just over 1.8 mbd):

And here’s the production chart again, but presented slightly differently and with the consumption line overlaid:

The prospects for any nation decline severely once they become a net importer of energy.

Just how it is.

Mexico being riddled with corruption and soap-opera level ruling family drama is going to do some dumb stuff politically and monetarily, as they have historically done.

Maybe not, but the odds are quite strong.

This will mean a falling peso, and an increase in social and political unrest.

Maybe not, but the odds are quite strong.