Oil

The oil business started in Mexico shortly after oil was discovered in the US during the mid 19th century. It was private companies that developed the business and like the Middle East the government nationalized the business in 1938 and all private companies left. Most of the oil was exported but in time Mexico developed an industrial economy and needed refined product like gasoline and diesel. They imported these from the US but a new president who was anti American decided to build a refinery so Mexico could make their own gasoline. Time passed and soon the oil began to run out and now the refinery had to look elsewhere for oil. The US shale oil is light sweet and could not be used by the Mexico refinery so they had to look to the Middle East for oil. In the near future their oil supply will die out and they will be importing oil to make their own gasoline. This is another example of the ineffective business practice of government. They never looked long term to recognize that their original oil source would run out. Even today they do not have the technical know how to look for new wells.