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Mexico's oil wealth sparks cautious shift in policy
Euphoria over Mexico's new oil discoveries gives way to concern that oil may not solve deep social problems. Since 1976 President Lopez Portillo has used oil to improve balance of payments and bolster confidence, while fearing a welfare state. Pemex revised reserves upward, with plans for 2.2 million bpd production and 1.1 million bpd exports by 1982 and a $1.5 billion gas pipeline to the Texas border.
MENTIONED IN THIS ARTICLE
Mexico
Jose Lopez Portillo
Lopez -Portillo
Pri
Ority
Pemex
Texas