6 years ago
Mexico’s Oil Crisis: Pirates, Cartels, And Corruption
Mexican oil is hemorrhaging money thanks to gasoline-guzzling cartels, seafaring pirates, and widespread collusion within their own ranks. While this is nothing new for the oil-rich but security-poor nation, the problem is now worse than ever, with state-run Pemex losing over a billion and a half dollars a year to thieves. This month, Pemex released a report including the staggering figure of $1.6 billion--the amount of money that they are losing annually to fuel theft.
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