World of Oil ///

To ensure sufficient energy supplies at competitive prices, Mexico will have to invest $140 billion in its oil and gas sector by 2009, said new Secretary of Energy Fernando Elizondo. Speaking to a local industry event hosted by state firm Pemex, Elizondo said that natural gas is a pressing problem, as the country still imports more than a third of its gas supplies. Mexican gas prices have jumped 61% higher this year, to nearly $6.50/Mcf.

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