Mexico, apparently, has vast shale oil and natural gas reserves in a basin that directly connects to the Eagle Ford in Texas.
To date, Mexico apparently imports 85% of the natural gas it consumes.
It seems tapping their shale natural gas would be a no-brainer.
It's not.
The new president-elect of Mexico, declared last week, that he will ban fracking in Mexico.
Irina Slav, over at oilprice suggests that fracking the Burgos Basin makes no economic sense anyway, but still, just the fact that President-elect Andres Manuel Lopez Obrador has said he will ban fracking seems to be ... well, beyond the pale.
It will be interesting to see Obrador's plans for the rest of the country's oil / natural gas sector.
Something tells me the "road to Mexico" is quickly becoming the "road to Venezuela."
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