Pemex Needs Nearly $110 Billion to Hit Mexico's Output Targets | HappeningNow.news

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Pemex Needs Nearly $110 Billion to Hit Mexico's Output Targets

A new IISD report says Mexico's $160 billion oil and gas push would add little energy security and urges spending on renewables, grids and storage.

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Summary

Mexico is dependent on oil and gas imports for two-thirds of its energy consumption, despite the fact that the country has abundant domestic fossil fuel resources. But instead of exploiting its own producing power to the greatest potential, Mexico relies on its neighbor to the north for the majority of its energy needs, leaving it in a vulnerable position.

Read original at OilPrice

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