Pemex At Lowest Levels Ever while Carstens Makes a Bid for IMF #peakoil #collapse #dsk

You can be sure that Carlos Slim is heavily invested in PEMEX bonds which essentially is privatizing without public support

Clipped from www.bloomberg.com

Pemex Oil Output Declines at Fastest Rate Since World War II

Jan. 20 (Bloomberg) -- Petroleos Mexicanos, Mexico’s state oil company, will probably report its fastest drop in production since 1942, eroding revenue as plunging crude prices limit the amount of cash available to drill for new reserves.

Pemex last year likely extracted 2.8 million barrels a day, down about 9 percent from the 3.08 million a day pumped in 2007, representing a total of $20 billion in lost sales, according to data compiled by the government and Bloomberg. The Mexico City- based company, which had revenue of $104 billion in 2007, plans to report annual production figures tomorrow.

“The fall in oil prices and lower production is going to make expensive exploration projects less attractive now.”

Pemex’s “biggest problems have yet to come,” said Alejandro Schtulmann, head of research at Empra, a political- risk consulting firm in Mexico City, in an interview. “The fall in oil prices and lower production is going to make expensive exploration projects less attractive now.” Read more at www.bloomberg.com

 

TX Taxes Amazon and They Are Pissed!

Really? Is paying your fair share of taxes really worth leaving an entire State? Amazon will have to let go all the people employed there.

Amazon is amassing incredible profits and wealth and is partly to blame for Borders is out of business.

Perhaps TX should forbid Amazon from doing business in TX and allow a new small player to fill the space

Clipped from www.tax.com

Amazon to Texas: Adios David Brunori | Feb. 15, 2011 06:43 AM EST Amazon the internet behemoth is mad as a hornet at Texas. In fact, the company is so mad it closing its distribution center in Dallas. The company informed its employees that it is leaving because Texas is not treating them so nice. You see, Texas has billed Amazon $269 million for sales taxes the company never collected on sales in the state. Amazon says it has no physical presence in the state and thus is under no obligation to play tax collector. In fact, Amazon is so irate it is closing its nonexistent physical presence in Dallas to show Texas that it will not be pushed around. Moreover, Amazon said it was “previously planning to build additional facilities and expand in Texas bringing in more than 1,000 new jobs and tens of millions of investment dollars to the state… We regret the need to reverse course.” Basically, the company is saying "we were going to do more in Texas -- although we really are not there but we changed our mind. I say: good for Texas. Read more at www.tax.com