The future of the oil and gas industry in Mexico affects both U.S. 
and world markets and, more importantly, the country's own 
economic development.

    Fossil fuels—oil, natural gas, and coal—account for 92 percent of 
all energy consumed in Mexico, creating two fundamental dilemmas 
for the country. How can it increase energy consumption at the 
same time it cleans up the air and water, and how can it sustain 
growth that is based on a nonrenewable resource?

    Since oil and natural gas are produced exclusively by Petroleos 
Mexicanos (PEMEX), a government monopoly, economists John R. 
Moroney and Flory Dieck-Assad center their study of the Mexican oil 
and gas industry on the recent history of that company and its 
complex relationship with the Mexican Secretary of Energy, 
Secretary of Finance, and Congress. The result is the first detailed 
account of PEMEX's fiscal situation during the twenty-year period 
from 1979 to 2000, a period of declining oil and gas reserves.

    The authors cogently assess Mexico's goals of sustainability and 
the major policy changes that will be required to achieve them. This 
book will be of interest to readers concerned with Mexican economic 
development and its prospects for the future.

_________________________________________________________

JOHN R. MORONEY, a professor of economics at Texas A&M 
University, is the author or editor of a dozen books and many 
scholarly articles. FLORY DIECK-ASSAD is a professor of finance 
and accounting at the Instituto Tecnológico y de Estudios Superiores 
de Monterrey in Monterrey.


Number Sixteen: Texas A&M University Economics Series


What people are saying about this book

"Few books about this subject have an analysis so comprehensive 
and so detailed. This book should be read by anyone interested in 
Mexican economy and its foundation for social progress."—Marcelo 
Chauvet, director de Consultoría Energética and vice-president of 
AMEDES, the Mexican Association of Gas for Sustainable Growth