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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (52862)	8/30/2004 7:52:10 PM
From: elmatador	Respond to of 74559

Snowshoe, PEMEX wants to loot someone!! Let me translate it for you. 1) Price of oil is up 2) Reserves are down. See Shell desperate to find new reserves. 3) Norwegian Statoil is looking anywhere for oil. Will allow drilling in the Artic Sea. 4) Even mercenaries are risking their necks to get their hands in some African oil. See the case of Equatorial Guinea. <<Mexico's PEMEX has detected vast new oil deposits in the Gulf of Mexico that could double the country's total reserves and boost its oil output to rival Saudi Arabia's, the state oil monopoly said on Monday>> This is the equivalent of a Nigerian saying he has USD75million in bank account. <<To extract this oil Mexico needs to establish a technology alliance with countries that have experience.>> This is the equivalent of the Nigerian saying he needs some upfront top get his hands on the money. Always keep in mind the ranking of the most corrupt businesses in the planet: 1) Weapons 2) Oil 3) Telecoms (In case you are surprised to see telecoms remember the Euro100 billion auction of spectrum in 2000)