Mexico relies on US as oil supply falls and gas demand rises
As its oil production keeps falling, Mexico is turning to natural gas to diversify its energy supply and fuel economic growth. Increasingly, it is relying on booming US supplies to do the job
According to the World Bank, Mexico's economy grew at an impressive 3.9% in 2012 and is on track to post growth of 3.5% in 2013. Yet 52 million people - almost half of the population - live in poverty. Another 11.7m, or 10%, live in "extreme" poverty, earning less than $76 per month. President Enrique Peña Nieto took office in December 2012 promising to increase living standards. But falling oil production, historically the mainstay of the country's export revenues, is threatening his ambition. In 2010, oil accounted for 14% of export earnings and 32% of government revenues, according to the Mexican central bank. Rising crude prices have offered some relief. The value of Mexican oil exports
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