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September 18, 2013

In sign of energy dilemma, Mexico runs low on natural gas

Prices for natural gas over the border in Texas are at historic lows, so what happened earlier this month at the Gulf of Mexico port of Altamira, Mexico, might seem to defy market logic: Tankers arrived from Yemen and Nigeria to offload liquefied natural gas at a price four times the market rate in the U.S. It’s a sign of Mexico’s enormous energy crisis, even as oil remains the mainstay of the country’s economy. Mexico has huge natural gas reserves, yet those reserves remain largely untapped, and the country is a net importer of the fuel.

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