Over the last 10 years Mexican oil and gas production fell by 30%, while U.S. and Canadian production leaped by 50%, due to new technology and capital investment. Forming joint-ventures with U.S. and foreign oil companies will allow Mexico’s to stabilize its production and offers huge opportunities for growth through deep-water exploration and fracking. Modernization of the oil industry heralds a coming economic boom for Mexico and North American energy security for the United States.
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