yinkaafrica
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Sat Jan-15-05 03:55 PM
Original message |
Where does all that Mexican oil revenue go? |
yinkaafrica
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Sat Jan-15-05 04:04 PM
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1. They have lots of oil, right? |
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Is the money funneled off by the US?
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gumby
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Sat Jan-15-05 04:05 PM
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2. Same place as the U.S. Treasury |
yinkaafrica
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Sat Jan-15-05 04:08 PM
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3. But who ends up with it and how do they spend it? |
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I would think that could help lift them out of poverty
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punpirate
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Sat Jan-15-05 04:09 PM
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4. From what little I know about it... |
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... currently, PEMEX, the Mexican national oil company, is badly debt-ridden and suffering from lack of capital for further exploration, poor productivity, dwindling reserves and mismanagement.
One report said it would have to sell 95% of its assets to meet its current debt obligations.
Of course, that could all translate to a siphoning off of revenues. It could also mean that its revenues are low enough that it can't do much more than pay the interest on its debt.
Cheers.
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yinkaafrica
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Sat Jan-15-05 04:13 PM
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5. Sounds like they run PEMEX like they run their prisons |
illflem
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Sat Jan-15-05 04:15 PM
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6. A lot goes to paying Mexico's massive external debts |
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they also spend a lot on developing tourism. Keeping up with the rapidly growing population with new schools, hospitals, etc also eats up a chunk. While I'm sure a lot is lost to corruption you also have to consider that the majority of Mexicans don't pay any taxes at all.
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yinkaafrica
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Sat Jan-15-05 04:21 PM
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UTUSN
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Sat Jan-15-05 07:23 PM
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8. Without (My) Knowing Any Specifics, the Endgame Is |
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a tiny percent of the whole population has a vast amount of the disposable income.
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Thu Apr 18th 2024, 02:20 AM
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