Mexico to be hit by Peak Oil

Just a short post to flag an article on Mexico reaching Peak Oil production and ceasing to be an oil exporting economy by the end of 2009. This has major implications for the stability of Mexico’s economy – where’s it going to get those export dollars from now? And also for US energy security as the USA currently imports 1.3 million barrels a day from Mexico (alomst as many as the 1.4 million it gets from Saudi Arabia).

The article also discusses International Energy Agency forecasts of 9% yearly oil depletion – that’s hard to picture on a global scale, but just try to work out how you’re going to get by with 10% less energy each year. Think about how your life would look if you had to drive 10% less miles each and every year, and had to heat your house with 10% less energy each and every year.

Focusses the mind a little doesn’t it.

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