By Ronald Buchanan in Mexico City
As the debate continues on deep-water drilling in the Gulf of Mexico, nobody mentions the country that gave the gulf its name.
Mexico plans to drill a well 2,600 metres deep in its part of the gulf. That’s more than twice as deep as Pemex, the state oil company, has ever drilled before, and shows how much pressure the company is under to develop deep-water reserves.
Pemex generates a third of the government’s revenues, but its production has slid as huge oil finds of the 1970s are exhausted.