Mexico's Oil Industry--Too Little Too Late?

[Rodent + 1,424]

https://www.reuters.com/article/us-mexico-oil-exploration/mexico-must-double-oil-exploration-spending-to-halt-output-fall-pemex-idUSKCN1M82VN?rpc=401&

I guess it's better than nothing, but Mexico's decade+ oil production decline is unlikely to be saved anytime soon by upping spending now.

Also saw tonight that BP paid out $25 million on the sly to Mexico over the Deepwater Horizon disaster. Maybe they'll use those funds to increase exploration...