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Oil Production Policy and Economic Development in Mexico

The economics literature of the oil market is primarily concerned with the behavior of OPEC member countries, viewing the non-OPEC oil exporters as insignificant. Recently, however, oil exports by non-OPEC countries have expanded substantially, increasing the role these countries play in the oil market. Among these countries, Mexico is of special interest because it is the largest non-OPEC oil exporter, with huge petroleum resources; at the same time, it has an enormous requirement for foreign exchange.

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Energy Specializations: Petroleum – Exploration and Production; Energy and the Economy –Economic Growth and Energy Demand; Energy and the Economy – Resource Endowments and Economic Performance

JEL Codes:
D24 - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
O13 - Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products
Q34 - Natural Resources and Domestic and International Conflicts

Keywords: Oil production policy, Mexico, Economic development, Oil exports

DOI: 10.5547/ISSN0195-6574-EJ-Vol6-No2-5

Published in Volume 6, Number 2 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.