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Mexico Makes Biggest Oil Find in a Decade

Foxnews Latino -- State-owned oil giant Petroleos Mexicanos, or Pemex, said it found reserves of up to 500 million barrels of crude in southern Mexico, a discovery that President Felipe Calderon hailed as the "biggest find" of petroleum on land in the past decade.

The Navegante 1 field is about 20 kilometers (12 miles) from Villahermosa, the capital of the southern state of Tabasco, and yielded light crude at a depth of 6,800 meters (22,295 feet), Pemex officials told Efe.

Initial estimates are that the field contains 500 million proven, possible and probable (3P) barrels of petroleum, but new test wells are planned and could boost reserve estimates to up to 1 billion barrels, Pemex said.

Calderon, who is less than a week away from handing over power to President-elect Enrique Peña Nieto, announ

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Submitted Nov 27, 2012 By: MidNJ

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honda0105 Champion Author Tallahassee Posts:18,590 Points:1,606,595 Joined:Nov 2008	Message Posted: Nov 30, 2012 4:55:56 AM Ignore honda0105 Report Abuse viro: you said it before I could.
virostek Veteran Author Virginia Posts:423 Points:90,285 Joined:Oct 2012	Message Posted: Nov 29, 2012 12:00:33 PM Ignore virostek Report Abuse So are the drug cartels diversifying?
MAC48 Champion Author Dallas Posts:1,546 Points:764,095 Joined:Dec 2006	Message Posted: Nov 28, 2012 8:59:26 AM Ignore MAC48 Report Abuse This is definitely good news for the citizens of Mexico especially those in Southern Mexico and for all of the people in North America. One certainly hopes that this newly discovered crude oil field is developed with a long term view in control to maximize the economic benefits to Mexico over the longest term practical. Perhaps the time is right to form the North American Petroleum Exporting Countries (NAPEC) organization as a counter weight to OPEC on the world scene.
DanMtz Champion Author Oakland Posts:3,340 Points:1,240,400 Joined:Oct 2009	Message Posted: Nov 28, 2012 8:53:53 AM Ignore DanMtz Report Abuse Peak Oil? I doubt it...
BEGTWO Champion Author Maryland Posts:1,927 Points:720,615 Joined:Sep 2010	Message Posted: Nov 28, 2012 7:44:55 AM Ignore BEGTWO Report Abuse COOL!!!
Canucktree Champion Author Alberta Posts:4,881 Points:1,017,700 Joined:Dec 2008	Message Posted: Nov 28, 2012 6:51:35 AM Ignore Canucktree Report Abuse So lets all look for new news.
virostek Veteran Author Virginia Posts:423 Points:90,285 Joined:Oct 2012	Message Posted: Nov 28, 2012 6:22:22 AM Ignore virostek Report Abuse So are the drug cartels diversifying?
jethro5000 Champion Author Kentucky Posts:1,862 Points:388,310 Joined:Jun 2005	Message Posted: Nov 28, 2012 5:51:54 AM Ignore jethro5000 Report Abuse ??????
gbs1 Champion Author Minnesota Posts:1,986 Points:739,675 Joined:Mar 2011	Message Posted: Nov 27, 2012 8:59:28 PM Ignore gbs1 Report Abuse Good news for Mexico to offset their declining production
NHLiveFree Champion Author New Hampshire Posts:11,070 Points:1,619,180 Joined:Jun 2008	Message Posted: Nov 27, 2012 5:11:07 PM Ignore NHLiveFree Report Abuse How wonderful for Mexico's 1%ers! True MidNJ that it is a mere drop in the bucket relative to U.S. oil consumption. Hardly tomok.
MidNJ Champion Author New Jersey Posts:7,536 Points:1,169,685 Joined:Sep 2009	Message Posted: Nov 27, 2012 4:39:30 PM Ignore MidNJ Report Abuse 500 million barrels may seem like a lot, but the USA uses 15 to 18 million barrels of oil each day. Even using the 15 million barrel a day figure that means this amount of oil will give the USA just a 33 day of oil supply. (500 divided by 15 = 33.3)
GatorGuy Champion Author Columbia Posts:2,220 Points:1,204,485 Joined:Jan 2009	Message Posted: Nov 27, 2012 1:23:57 PM Ignore GatorGuy Report Abuse It's about time we invaded Mexico, don't you think?
dbellie Veteran Author Twin Cities Posts:301 Points:45,100 Joined:Nov 2010	Message Posted: Nov 27, 2012 12:59:57 PM Ignore dbellie Report Abuse I though the world was coming to an end, soon
tomok Champion Author Portland Posts:32,934 Points:2,342,585 Joined:Aug 2006	Message Posted: Nov 27, 2012 12:09:59 PM Ignore tomok Report Abuse Mexico Makes Biggest Oil Find in a Decade, so much for that 'Peak Oil' thing. There is oil all over this world, find it, get it out of the ground and get it to market. And the price of fuel at the pump keeps going up and up! Whatever the size or shape of the vehicle, vehicle manufactures Produce and the population ‘Drives’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high! XII/XXII/MMXII!
BigKart All-Star Author Indianapolis Posts:753 Points:222,345 Joined:Apr 2011	Message Posted: Nov 27, 2012 10:57:08 AM Ignore BigKart Report Abuse Great. Something else for the drug dealers to fight over... don't expect the standard of living to increase.
doctorindyj Champion Author Santa Fe Posts:3,438 Points:836,785 Joined:Nov 2009	Message Posted: Nov 27, 2012 10:36:34 AM Ignore doctorindyj Report Abuse Good for the Mexican government not so good for the Mexican people.
zimowski Champion Author San Jose Posts:6,656 Points:1,581,540 Joined:Nov 2007	Message Posted: Nov 27, 2012 10:33:52 AM Ignore zimowski Report Abuse Good news for Mexico and North American energy independence.
joebobdiddly Champion Author California Posts:4,053 Points:942,995 Joined:Jul 2010	Message Posted: Nov 27, 2012 10:20:13 AM Ignore joebobdiddly Report Abuse There's no shortage of oil, despite the doomsayers
Utrix Champion Author Lansing Posts:23,770 Points:2,049,680 Joined:Aug 2004	Message Posted: Nov 27, 2012 9:59:50 AM Ignore Utrix Report Abuse Now mexico can; 1. pay back the $10 billion The U.S.A. gave them for oil exploration! 2. pay back the $40 trillion The U.S.A. gave them for the war on drugs! or was it used for the production of drugs? 3. pay back the $30 trillion The U.S.A. gave them for sending their citizens to The U.S.A. to collect government assistance or take low paying jobs and send half the money back to mexico.
Mariuxus Champion Author Chicago Posts:3,745 Points:1,868,140 Joined:May 2007	Message Posted: Nov 27, 2012 9:58:42 AM Ignore Mariuxus Report Abuse ok...and how about us...
Catfish93001 Champion Author Ventura Posts:1,200 Points:247,205 Joined:Jun 2008	Message Posted: Nov 27, 2012 9:20:26 AM Ignore Catfish93001 Report Abuse Good for somebody, but probably not the general population of Mexico.
fora_7 All-Star Author Montreal Posts:862 Points:206,405 Joined:Sep 2012	Message Posted: Nov 27, 2012 9:12:01 AM Ignore fora_7 Report Abuse That could be a good news
itzagasgasgas1 Champion Author Cincinnati Posts:3,959 Points:1,596,570 Joined:Aug 2005	Message Posted: Nov 27, 2012 9:00:47 AM Ignore itzagasgasgas1 Report Abuse They should take the crude and boil the drug dealers in oil.
BillHeatherL Champion Author Alberta Posts:7,628 Points:1,921,705 Joined:Apr 2007	Message Posted: Nov 27, 2012 8:53:10 AM Ignore BillHeatherL Report Abuse good for them
JaegerWMeister All-Star Author Twin Cities Posts:790 Points:336,065 Joined:Mar 2012	Message Posted: Nov 27, 2012 8:51:38 AM Ignore JaegerWMeister Report Abuse A stronger economy in Mexico, if it happens from this, has potentual
99church Champion Author Indiana Posts:1,806 Points:359,015 Joined:Oct 2011	Message Posted: Nov 27, 2012 8:50:18 AM Ignore 99church Report Abuse Good for Them
stickyvalves Champion Author Iowa Posts:5,260 Points:1,554,695 Joined:Oct 2005	Message Posted: Nov 27, 2012 8:49:40 AM Ignore stickyvalves Report Abuse We will stand around and watch.
speedys Champion Author Utah Posts:7,002 Points:2,555,960 Joined:Nov 2005	Message Posted: Nov 27, 2012 8:49:33 AM Ignore speedys Report Abuse Proven, possible and probable. that covers it all.
HyundaiOne Rookie Author Maryland Posts:72 Points:16,945 Joined:Nov 2012	Message Posted: Nov 27, 2012 8:48:38 AM Ignore HyundaiOne Report Abuse That's great news.
eaglev Champion Author Oklahoma City Posts:4,001 Points:937,155 Joined:Jul 2005	Message Posted: Nov 27, 2012 8:47:55 AM Ignore eaglev Report Abuse We have so much oil under Federal land that this story should be written about the US
dad2two Champion Author Dallas Posts:3,525 Points:746,620 Joined:May 2010	Message Posted: Nov 27, 2012 8:46:54 AM Ignore dad2two Report Abuse Good for Mexico.
Kaiyne Champion Author Chicago Posts:2,324 Points:469,790 Joined:Feb 2011	Message Posted: Nov 27, 2012 8:46:35 AM Ignore Kaiyne Report Abuse We should Mexico our 51st state!
rocknvox All-Star Author Bakersfield Posts:679 Points:137,775 Joined:Nov 2012	Message Posted: Nov 27, 2012 8:46:11 AM Ignore rocknvox Report Abuse they will just be hiding the drugs and illegals inside the tankers as they come across the border.
CapriceWagon All-Star Author Washington Posts:929 Points:476,270 Joined:Feb 2008	Message Posted: Nov 27, 2012 8:45:49 AM Ignore CapriceWagon Report Abuse Very nice, very nice
TRAIN RIDER Champion Author San Bernardino Posts:9,067 Points:2,754,895 Joined:Oct 2004	Message Posted: Nov 27, 2012 8:45:16 AM Ignore TRAIN RIDER Report Abuse They need to use it to help their people and not their pockets.
snappytom2 Champion Author Corpus Christi Posts:3,537 Points:274,115 Joined:Jul 2008	Message Posted: Nov 27, 2012 8:45:08 AM Ignore snappytom2 Report Abuse So?
olefin Champion Author Arkansas Posts:6,041 Points:722,815 Joined:Sep 2006	Message Posted: Nov 27, 2012 8:41:06 AM Ignore olefin Report Abuse Great, maybe that will keep some of the illegals out of our country!
Cellsite Champion Author Appleton Posts:1,223 Points:283,925 Joined:Jun 2012	Message Posted: Nov 27, 2012 8:40:37 AM Ignore Cellsite Report Abuse Good.
w4kh Champion Author Tennessee Posts:11,655 Points:2,226,065 Joined:May 2004	Message Posted: Nov 27, 2012 8:40:10 AM Ignore w4kh Report Abuse If only Mexico could export only its oil and not the thugs and drugs that seem to flood the Southwestern boarders, we could be a tad happier about them finding more oil. Perhaps this find will mean more jobs and more people will have reason to stay in Mexico.
2008JeepX Sophomore Author Newfoundland Posts:238 Points:72,550 Joined:Jan 2009	Message Posted: Nov 27, 2012 8:39:48 AM Ignore 2008JeepX Report Abuse maybe this might lessen the need for Arab Oil!
gasmeup52 Champion Author Missouri Posts:1,310 Points:679,780 Joined:Jan 2011	Message Posted: Nov 27, 2012 8:39:06 AM Ignore gasmeup52 Report Abuse Lucky them.
tstoney Sophomore Author Ogden Posts:154 Points:451,605 Joined:Feb 2011	Message Posted: Nov 27, 2012 8:38:34 AM Ignore tstoney Report Abuse but everybody else is doing it, why can't we?
HoosierDaddyKY Champion Author Kentucky Posts:1,257 Points:294,135 Joined:Dec 2011	Message Posted: Nov 27, 2012 8:37:32 AM Ignore HoosierDaddyKY Report Abuse Well...
7SPEEDY7 Champion Author Flint Posts:1,276 Points:602,750 Joined:May 2011	Message Posted: Nov 27, 2012 8:37:17 AM Ignore 7SPEEDY7 Report Abuse WOW!
roadrunnerMO Champion Author Kansas Posts:8,391 Points:1,696,540 Joined:Jul 2008	Message Posted: Nov 27, 2012 8:37:16 AM Ignore roadrunnerMO Report Abuse Great for jobs in Mexico. Go get em and leave U.S. for those who really love our country and want to be committed as citizens.
Kato51 Champion Author Atlanta Posts:7,250 Points:2,161,840 Joined:Jul 2005	Message Posted: Nov 27, 2012 8:36:45 AM Ignore Kato51 Report Abuse Good for them. When are we going to report some positive news?
Rick01 Champion Author Utah Posts:9,003 Points:2,359,650 Joined:Sep 2005	Message Posted: Nov 27, 2012 8:36:37 AM Ignore Rick01 Report Abuse Good.
noonedwagfan All-Star Author Dayton Posts:950 Points:239,155 Joined:Sep 2012	Message Posted: Nov 27, 2012 8:36:17 AM Ignore noonedwagfan Report Abuse Need to form a "American Oil Alliance"!!
vcsuksu21 Champion Author Oklahoma City Posts:2,468 Points:704,430 Joined:Dec 2010	Message Posted: Nov 27, 2012 8:36:05 AM Ignore vcsuksu21 Report Abuse good they can cook more meth for the US
mswillia Champion Author Milwaukee Posts:2,618 Points:570,625 Joined:Feb 2010	Message Posted: Nov 27, 2012 8:35:40 AM Ignore mswillia Report Abuse good to have neighbors