If we needed any more proof that government-run industries are destined for disaster, just look at Mexico.To date, the country’s oil and gas sector has been under the control of the government and its proxy, Pemex.Like most countries with government-controlled assets, any profits generated by the industry end up being diverted elsewhere. As a result, the country is experiencing the lowest level of oil production in 24 years.In many parts of Mexico, electricity is more costly per kilowatt-hour than in the United States. And given its paltry exploration efforts, it currently relies on imports for natural gas.That being said, there’s still a huge opportunity brewing south of the border.In fact, while it might seem unthinkable, the potential for a Mexican energy boom could be just as massive as the one in the United States.
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