Why is Mexico playing poor when they are the 4th richest oil nation in the world?

Question

MEXICO IS THE 4TH RICHEST OIL NATION IN THE WORLD

SOURCE:
CNN

http://www.cnn.com/2004/WORLD/americas/02/18/obit.lopez.ap/

The state petroleum monopoly Pemex had discovered big oil deposits offshore in the Gulf of Mexico that were twice Alaska's North Slope -- doubling the nation's reserves -- just before Lopez Portillo was elected.

He concentrated on developing petroleum production, quickly turning Mexico into the world's fourth-richest oil nation at a time when the Organization of Petroleum Exporting Countries cartel was squeezing top dollar out of the United States and other big industrialized countries

Answer 1

In Mexico, like in most "third-world" countries, the situation is not that there is not any money, it is that it is kept by a few people. That's why you have an enormous number of rich people, an enormous number of poor people, and a very small number of middle-class.

Answer 2

Its using fact the wealth of that us of a is so dispensed that the wealthy get richer and the undesirable are in abject poverty.You as a citizen cant artwork for a livable salary using fact the wealthy shop the employment wages so low and that they have got not got a welfare equipment to assist the those that definitely want it.the government does not look to have lots difficulty for its maximum needy human beings.the rustic encourages its undesirable to immigrate to the U. S. that they are able to deliver remittances decrease back to Mexico at a value some the place between 30 and 40 5 billion money a 12 months.that money is placed into the Mexican financial equipment and has grow to be a extensive asset to Mexico.Its like discovered money.So why complication to purpose to restoration Mexico's issues whilst they are able to deliver them/inspire them to immigrate illegally to a diverse us of a.Mexico advantages the two strategies.a million they don't must be troubled by making use of tens of millions of their very own undesirable and a pair of the rustic gets the billions of dollars sent decrease back to the Mexican financial equipment.For Mexico its a win win proposition.The undesirable human beings and the rustic's they immigrate to illegally pay the fee. Proud White you are the biggest reason TO help ABORTION IVE EVER considered.you're disgusting

Answer 3

Because:
"To develop the oilfields -- as well as raise living standards _ Lopez Portillo borrowed large sums of money abroad. In six years the foreign debt shot up from $20 billion to $82 billion, making Mexico's foreign debt the Third World's biggest after Brazil.

A few months before the end of Lopez Portillo's administration, things began to sour. An oil glut developed worldwide, prices plunged and credit began to shrink. People got frightened and started turning their pesos into dollars just in case, sharply depleting the government's monetary reserves.

Lopez Portillo vowed to defend the value of the peso "like a dog," days before he expropriated Mexico's private banks and imposed tight currency exchange controls. Inflation quickly shot sky-high, businesses folded and many lost their jobs. "

Lopez Portillo and the 70 year rule of PRI actually made us poorer, they spent all the money, borrowed a lot abroad, and now....instead of ripping the benefits to make our country grow, we have to use it to pay the foreign debt and the internal debt incurred. Mexico is in economic crisis, man, that is no secret. But one day it can get up.

Vicente Fox received the country with a foreign debt of 79 billion dollars, he paid it down to 39. here we go, slwly but surely.

Answer 4

I will answer this question short and simple.

The fact a country is rich in resources, does not mean its people are rich. If this was the case, many countries would not immigrate in search of a better life. Have you heard of COMMUNISM?

Not every government shares its wealth with the common people. The government eats well, while their people die of hunger.

Answer 5

Because they don't use the money the get legitimately to develop their nations resources, they line their own pockets, instead of helping their people.

Answer 6

Historically, the country has been mismanaged and had a lot of corruption. It still is basically the rich and the poor, even after land reforms.

Answer 7

This is the oil rich nation we need to invade, not Iraq! God knows it would only be a counterattack !

Answer 8

Because that money is Stolen by corrupt government officials as fast as its made.

Answer 9

Because the govt isnt sharing...so most people are very poor.

Answer 10

its the only way for them to try to get people to feel sorry for them, now you will get post as to say the government gets it not them.