Welcome to the Mexican Oil Rush of 2014

It seems to me that the biggest story that nobody’s really been paying much attention to over the last few days is the Mexican Congress’ vote to amend the constitution to open the country’s energy markets to foreign investment after 75 years of control by state-owned firm Pemex. On top of being a major victory for new President Enrique Peña Nieto, who came to power promising to reverse his country’s slumping economic growth, this is a development with profound implications for politics, business, and the environment.

Mexico could be sitting on the world’s largest unexplored oil reserves outside the Arctic, but the country’s output has been falling over the last decade as Pemex hasn’t had the means to explore it. The country’s exports to the United States dropped below 1 million barrels for the first time in 20 years last year. Mexico may also have the world's sixth-largest recoverable shale gas reserves.

http://www.slate.com/blogs/the_world_/2013/12/16/mexico_opens_oil_industry_to_foreigners_let_the_rush_begin.html?wpisrc=hpsponsoredd2