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Tech's New Trillionaire

Ones and Tooze

CHAPTER

Mexico's Oil Economy

Mexico has managed to be less dependent on its oil than other resource rich countries. At its peak in the early 2000s, Mexico was the world's sixth largest oil producer. As recently a decade ago, oil accounted for 7% of the Mexican economy. But now it's down to 15%, 16%. So, it's one source of income amongst many. And today, Mexico hedges its oil revenues in really interesting ways.

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