Business: Mexican Gusher

Possibly the biggest yet

Will the leaders of the next oil superpower be wearing sombreros instead of desert kaffiyehs? Mexico became a net exporter of petroleum in 1975 as a result of discoveries of big deposits in the southern regions east of Veracruz, and since then, one leading U.S. energy analyst says enviously, "the Mexicans have been finding oil as fast as they put holes in the ground." Last week Jorge Diaz Serrano, head of Pemex, the government oil monopoly, announced the discovery of a new field that he says may contain up to 100 billion bbl.; that would be more than...

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