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This paper presents an in-depth examination of Mexico's situation today in light of its bad press regarding excessive crime, drug cartels, illegal immigration and a number of other issues associated with the nation. In fact, the paper argues that the Mexican economy is not as fragile as reported it the international press, pointing out that Mexico has gone through a successful transformation both in the political and macroeconomic realms. Various charts and graphs further support this thesis. Additionally, the paper examines the oil industry in Mexico, one of its chief export commodities. It highlights the role of PEMEX, Petroleum Mexico, which was established not just to manage the oil industry in Mexico but also to generate government revenue and serve as a chief source of employment. The paper discusses PEMEX extensively, noting problematice management issues with this government organization. The paper concludes by stating that Mexico must move its economic focus away from oil to more cleaner and renewable sources of energy like wind or solar power would not only serve to meet Mexico's growing energy needs but also help to keep Mexico's oil the property of its people. Ultimately, this would strengthen its economy. Several figures are included in this paper.
From the Paper:"The US slowdown has weakened economic activity in Mexico with both exports as well as domestic demands witnessing a fall. Inflation increased in the past one year mainly because of the rise in worldwide energy and food prices. Fall in exports in 2008 and 2009 can be attributed to the reduced industrial production in the US and reduced domestic oil output. Conversely, higher oil revenues in the Mexican budget has boosted public consumption and increased investments. According to OECD estimates growth will continue to fall through the rest of 2009 but is expected to recover in 2010. (Oecd Publishing 2008) The most important point to be noted here is that the vulnerability of the Mexican economy vis-a-vis US economic developments have lessened considerably over the past decade. Even in 2001, a very moderate US correction resulted in a drastic fall in Mexican economy which had to strive hard for the next two years to revert it back. Apart from the national economic reforms and the improved fiscal position, one important factor that has helped to counteract the external..."
Sample of Sources Used:
- Andersen, Susan. 2003. Private Solutions for Infrastructure in Mexico: Public-Private Infrastructure Advisory Facility (Country Framework Report). World Bank Publications.
- Carlsen, Laura. 2008. "Mexico's Battle over Oil." Foreign Policy in Focus, http://www.fpif.org/fpiftxt/5231
- Coerver Don, Pasztor Suzanne and Buffington Robert. 2004. Mexico Today: An Encyclopedia of Contemporary History and Culture. ABC-CLIO.
- Council on Hemispheric Affairs. 2008. "Demerits of Pemex Certification." http://www.coha.org/2008/06/demerits-of-pemex-privatization/
- Crandall, Russell; Paz, Guadaupe; Roett, Riordan. 2004. Mexico's Democracy at Work: Political And Economic Dynamics. Lynne Rienner Publishers.
Cite this Research Paper:
Mexico's Oil Industry (2011, December 29) Retrieved January 24, 2021, from https://www.academon.com/research-paper/mexico-oil-industry-149740/
"Mexico's Oil Industry" 29 December 2011. Web. 24 January. 2021. <https://www.academon.com/research-paper/mexico-oil-industry-149740/>