29 replies to this topic

[johanson]

Apparently, according to Jsun of Esun Energy I was # 2 in the area. At on time forgetting that I sold stocks right before the 2008 crash, it would have been about 8.5 years if I didn't have the battery backup and around 12 with the large array of batteries for my battery backup system. I haven't checked to see how close the projections were.

[jaykay]

I am an oil brat. Standard Oil to be exact. I was raised at a refinery in Venezuela. There are two bad guys in this story about Mexican oil, the Government and the unions. For many years, Pemex was the cash cow of the federal Gov. What they didn't do was maintain or improve the system. No new wells developed. No new processing facilties. They just kept using what they took from foreign companies in the late 30's. At the same time the unions were featherbedding and paying people who didn't exist. Venezuela is not a poster boy for honesty or efficiency, but for every barrel of oil taken out of the ground in Venezuela, it takes three man hours to do it. In Mexico, it takes 4 and 1/2 man hours.. These are numbers released in 2004. Now the system is falling apart. There are hugh reserves off the East coast of Mexico, but they are deep. It takes expertise to get it that far down, and it's dangerous. You all saw what happened to us in the gulf. The Mexican Congress doesn't want outside companies to do it, but otherwise it will stay way down there. To make matters worse, Mexico right now has to send crude North to be processed because there is not enough capacity here to turn it into gas. Experts in the oil business have been warning the Mexican Government about this for years, but no action was taken. One thing for sure. Sooner or later, they will have to do something.

[wanderer]

Poor coon man, he must have hurt some union feelings out there by telling the thats easy to verify. That makes him ignorant and uninformed. Pathetic.

[Mainecoons]

I rest my case. Just remember, the money Pemex isn't making because of bad management and labor isn't helping the Mexican people.

[Viajero-Tiempo]

Let us get BP and EXXON in here to help out.
They know how to make friends in foreign places.
Need I say 9/11.

[jnc]

In a contest of who is more corrupt, privately owned oil companies or Pemex, I'd believe privately owned companies would win, hands down. I say this as a someone who spent 10+ years of my life working full time on energy issues, and is well-informed about how Big Oil got big and stays big. Comparing Pemex with those guys is like comparing the local cop who hits you up for a mordida with Bernie Madoff.

[Mainecoons]

Facts please. For example, do you know of any private oil company that has thousands of workers on its payroll who never show up for work? How about telling us about any private oil company whose employees work with cartel members to steal product out of pipelines?

Do you know of any major private oil company that is incapable of developing the resources that Pemex has yet hasn't been able to develop, hence the falling production?

I worked in the oil industry (production) too and there was payola mainly by the service suppliers to the employees. But everyone showed up for work. The organization was competent if very well fed. I have to chuckle, I remember how the service companies had these nice places down by Falcon lake that they'd give us, fully stocked, for fishing outings plus "fishing" trips across the border if you get my drift.

Just keep in mind that the government and the people lose when the payroll is padded, the executives are bribed, the organization lacks the competence to develop the resources it has. That is why the outgoing Mexican administration tried to reform it and that is why the likely incoming one also wants to do so. If this organization isn't shaped up soon and the necessary expertise acquired, this country is going to end up importing oil. What do you think that will do to the already elevated price at the pump here?

Besides, they need the money.

[Viajero-Tiempo]

I just dont understand why CFE doesn't work as efficently as Enron or Exxon or BP.
Companies where the whiz kids of EUA all go to work everyday (well except those private enterprise guys at Enron).
All were highly skilled and had good catch phrases for their little private enterprises. We all probably saw, the little Enron electircity brokers and "Burn baby Burn" from the "Smartest Guys in the Office".

Then we saw private oil put a little "Tide" or "All" detergent out to "dissipate" their little spill.

Those are the kinds of fellows that Mexico's constitution provents from coming in to "help". I believe it originated due to Mexico's fondness for ol' Zach Taylor.

[Mainecoons]

Nice OT rant.

Some more reading on Pemex:

http://www.newsdaily...-us-mexico-oil/

[Xcalaker]

Payola in the oil/gas industry? Friends and neighbors, payola exists in the beer , wine, liquor, soda pop, potato chip, tobacco, candy bar, diapers, dog food business, you name it! Nothing new here.