Insight and inspiration in turbulent times.
Coronavirus is hitting México hard and the government is in denial. México is going to have to face some difficult choices soon. It needs to remember what its indigenous ancestors did when the climate changed, civil collapse came, or invasion threatened. They dispersed and downsized… They self-isolated. And because of that, they are still here today.
What do you do if you are running out of oil, and your neighbour’s President, who has plenty of oil, seems to hate you? The answer is that you develop a renewable-powered economy as fast as you can.
Recent reforms would open oil exploration and development in Mexico to major oil companies for the first time in decades. But it’s instructive to look at what actually happened in Brazil since the time its potential as a major new oil producer was touted several years ago under similar circumstances.
With all the talk about new oil discoveries around the world and new techniques for extracting oil, it would be easy to miss the main action in the oil supply story: Aging giant fields produce more than half of global oil supply and are already declining as group.
