The state-owned nationalized oil company of Mexico, PEMEX, “announced that oil reserves may run out in seven years.”
“Supplies of this economically exploitable resource are running out,” informed a report sent by the state owned company to the United States stock market.
Jeff Vail notes
They will probably be out of oil in seven years–out of oil, not just beginning to decline. Notice how this came out on Friday afternoon. This is when you issue a press release when you want to bury a story.
Sounds like the Peak Oil theory is proving itself to be true. BTW, Mexico ranks third in amount of oil imported to the US.