Mexico’s reliance on oil exports to its northern neighbor is being jeopardized by the U.S. shale boom, forcing suppliers to seek new buyers, Citigroup Inc. said.
Elliott Roosevelt Jr., a grandson of U.S. President Franklin Delano Roosevelt, grins and leans toward visitors in his Dallas office to describe his biggest discovery in 53 years as an oilman.
Mexico’s Senate approved an energy bill that supporters say will make the country the world’s fifth-largest oil producer in about a decade, spurring growth in Latin America’s second-biggest economy.
The U.S. expanded its oil production this year by the most since the first commercial well was drilled in 1859, upending a belief that Americans were increasingly hooked on foreign crude.
"The U.S. has not done any sanctions on flows of Russian crude."
- Ed Morse on Oct 02, 2014
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