The economy of Mexico depends greatly on one of the fossil fuels.Which fossil fuel is it? Give a statistic about this fossil fuel.

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13-05-2015
Social Studies

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The economy of Mexico depends greatly on one of the fossil fuels.Which fossil fuel is it? Give a statistic about this fossil fuel.

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WorldCitizen WorldCitizen · Answer 1 · 2015-05-14T10:01:14-04:00

The economy of Mexico depends on its oil, which is controlled by PEMEX (PEtroleos MEXicanos), a state-own oil company. Mexico produces around 3 Million barrels of oil a day (Statistics for 2005: 2.5m., Statistics for 2010: 3 m), and it is in the 10 countries who produce most oil worldwide.
Mexico experienced a boost in the production in 1980s, but the production of oil has dropped significantly since 2005.