Mexico could make North America the world leader in oil production

Mexico is poised to join the North American oil revolution as a new government is moving to significantly modify 75-year-old constitutional restrictions against foreign involvement in the oil sector, allowing U.S. firms to go in for the first time and help develop the country's sizable untapped reserves.

An offshore oil installation is seen in the Gulf of Mexico near the coast of Campeche. The nation's top two presidential candidates are debating whether to turn outward and open oil to private investors, or inward by exporting less crude and giving Mexicans subsidized gasoline. (Associated Press photographs)

An offshore oil installation is seen in the Gulf of Mexico near the coast of Campeche. The nation's top two presidential candidates are debating whether to turn outward and open oil to private investors, or inward by exporting less crude and giving Mexicans subsidized gasoline. (Associated Press photographs)

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