Editing Economy of Mexico (section)

===Oil===
{{Further|Petroleum industry in Mexico}}

[[File:Gulf Offshore Platform.jpg|thumb|A Pemex offshore oil platform just off the coast of [[Ciudad del Carmen]].]]
Mineral resources are public property by constitution. As such, the energy sector is administered by the government with varying degrees of private investment. Mexico is the fourteenth-largest oil producer in the world, with {{convert|1,710,303|oilbbl/d}}.<ref>{{cite web|author=Energy Information Administration|title=Crude oil including lease condensate production 2020|url=https://www.eia.gov/international/rankings/world?pa=173&u=0&f=A&v=none&y=01%2F01%2F2020&ev=false|access-date=May 4, 2021|archive-date=August 9, 2022|archive-url=https://web.archive.org/web/20220809075006/https://www.eia.gov/international/rankings/world?pa=173&u=0&f=A&v=none&y=01%2F01%2F2020&ev=false|url-status=live}}</ref> [[Pemex]], the state-owned company in charge of administering research, exploration and sales of oil, is the largest company in [[Mexico]], and the second largest in Latin America after Brazil's [[Petrobras]].<ref>{{cite web|url=http://www.poder360.com/article_detail.php?id_article=4079 |title=Top Latin America Marching to a Brazilian Beat |access-date=May 6, 2010 |author=Poder 360 |url-status=usurped |archive-url=https://web.archive.org/web/20100415073252/http://www.poder360.com/article_detail.php?id_article=4079 |archive-date=April 15, 2010 }}</ref> Pemex is heavily taxed of almost 62 per cent of the company's sales, a significant source of revenue for the government.<ref name="Crandall"/>

Without enough money to continue investing in finding new sources or upgrading infrastructure, and being protected constitutionally from private and foreign investment, some have predicted the company may face institutional collapse.<ref name="Crandall"/> While the oil industry is still relevant for the government's budget, its importance in GDP and exports has steadily fallen since the 1980s.<ref>{{Cite web|title=Mexico Business Facts|url=https://bizpages.org/countries--MX--Mexico|access-date=April 15, 2021|archive-date=August 9, 2022|archive-url=https://web.archive.org/web/20220809075008/https://bizpages.org/countries--MX--Mexico|url-status=live}}</ref> In 1980 oil exports accounted for 61.6% of total exports; by 2000 it was only 7.3%.<ref name="Gereffi"/>