Interesting way to look at the high price of fuel

[birdshill123]

Jon:

Your math is right on. Diesel was $1.97 in December but the peso has
been rising in value as compared to the US$ ( almost all currencies
are stronger than the yankee buck). That was an interesting article.
Pemex, the state owned oil company, is the most inefficient and corrupt
oil company in the world. They are heavily unionized. AS they buy more
modern equipment less employees are required. But they cannot be
transferred to other depts. so they are sent home with full pay. Many
thousnads just sit at home and collect a fat paycheque. The President
of Mexico wants to allow foreign companies to do some exploration and
drilling as well as pipeline work but the other members of the govt.
are rebelling! Right bow they are importing about 40 % of the gasoline
as the refineries do not produce sufficient amounts. They subsidize the
price of fuel. Makes our politics look rather tame.


Bruce
1988 FC35