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The future of oil and natural gas production in Mexico is of
importance for both Mexico's economic growth, as well as for U.S.
energy security, a key congressional interest. Mexico is a top
trade partner and the 3rd largest crude oil supplier to the United
States. Mexico's state oil company, Petroleos Mexicanos (Pemex)
remains an important source of government revenue even as it is
struggling to counter declining oil production and reserves. Due to
an inability to meet rising demand, Mexico has also significantly
increased natural gas imports from the United States. Still, gas
shortages have hindered the country's economic performance. This
book provides an overview of Pemex and the content and prospects
for Mexico's energy reforms, before discussing specific issues
facing Mexico's oil and gas industry. It then examines the
U.S.-Mexico energy relationship through the lenses of trade and
energy cooperation. It concludes by suggesting several oversight
issues for Congress related to what the enactment of energy reform
might portend for Mexico's economic development, the U.S. energy
matrix, and bilateral or North American energy cooperation.
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