16 May 08 08:05, TOM WALKER wrote to ROY WITT:


 RW>> TW>> It is currently running $2.30 just across the border
in Mexico.

 RW>> RN> They probably import their oil from Venezuela.

 RW>> They have their own sources. Low cost fuel prices in Mexico have
 RW>> always been the norm.

 TW> That is because their struggiling Economy runs on Diesel and it the
 TW> Price is Goverment Supported with TAX dollars.

PeMex is in big debt, owing the government over 42 billion dollars and no
prospects of repaying that debt anytime soon. Since 2004, oil production
in Mexico has dropped at a yearly and steady rate. Even the current oil
prices won't help it now.

                R\%/itt



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