IDLE THREATS?

Petroleos Mexicanos General Director Raul Munoz Leos warns The Warns formed a Germanic nation in the Rhine delta. There was a war between the Angles of Great Britain and the Warns in cir. 540. See also

Warnii

that Mexico's oil industry could collapse if the government continues to oppose upgrading state-run oil company Pemex. Munoz Leos is stepping up his criticism of politicians who are standing in the way of reforms at Mexico's inefficient oil monopoly monopoly (mənōp`əlē), market condition in which there is only one seller of a certain commodity; by virtue of the long-run control over supply, such a seller is able to exert nearly total control over prices. , which accounts for some 37% of the government's income.

Pemex lost US$870 million in the first half of 2001, even though oil prices were high, as costs mushroomed. Despite that doomsday scenario, international investors scrambled scram·ble
v. scram·bled, scram·bling, scram·bles

v.intr.
1. To move or climb hurriedly, especially on the hands and knees.

2. to snatch up Verb 1. snatch up - to grasp hastily or eagerly; "Before I could stop him the dog snatched the ham bone"
snatch, snap

clutch, prehend, seize - take hold of; grab; "The sales clerk quickly seized the money on the counter"; "She clutched her purse"; "The $600 million in three-year Pemex bonds. The sale followed a $1 billion bond issue earlier this year.

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Publication:	Latin Trade
Geographic Code:	1MEX
Date:	Nov 1, 2001
Words:	103
Previous Article:	BORDER BUDDIES.
Next Article:	SIEMENS a German engineering and construction group.
Topics:	Petroleum Petroleum industry

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