Mexico's macho mood: oil brings confidence - and a new relationship with the U. S

Journal Article · Mon Oct 08 04:00:00 EDT 1979 · Time; (United States)

OSTI ID:5897890

Previously, the U.S. has taken Mexico for granted, but that has changed since 1972 when oil was discovered in Tabasco state in the Reforma oil and gas field. In September 1979 President Portillo said that Mexico has proven combined reserves of 45 billion barrels of oil and gas. Pemex officials say that could be as much as 200 billion barrels of crude. The relationship of the U.S. and Mexico and the relationship of President Portillo and former presidents of Mexico are discussed. The economy of Mexico is reviewed. Population control programs, tourism and how it was developed and by whom financed, and present plans for Mexico's newfound riches are discussed. Portillo's plan calls for Pemex to limit exports of crude and to sell oil, if possible, at rates well above OPEC levels. U.S. experts maintain that Mexico could pump up to 10 million barrels of crude a day by 1982, but it is planned that production go no higher than 2.2 million barrels per day. The new wealth will be used to finance an industrialization program. (MCW)

• OSTI ID: 5897890
• Journal Information: Time; (United States), Journal Name: Time; (United States) Vol. 114:15; ISSN TYMEA
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294002* -- Energy Planning & Policy-- Petroleum
AIR POLLUTION
COOPERATION
ECONOMY
ENERGY SOURCES
FLUIDS
FOREIGN POLICY
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
GOVERNMENT POLICIES
INDUSTRY
INSTITUTIONAL FACTORS
INTERNATIONAL COOPERATION
LAND USE
LATIN AMERICA
MANAGEMENT
MARKET
MEXICO
NATURAL GAS
NORTH AMERICA
OIL SPILLS
PETROLEUM INDUSTRY
POLITICAL ASPECTS
POLLUTION
RESERVES
RESOURCES
USA