Today, members of the state House Energy Resources Committee met in the Rio Grande Valley town of Edinburg to discuss how a partial privatization of Mexico’s oil and gas sector could impact the Texas economy.
Until this year, drilling in Mexico was run by Pemex, a state-owned company. A change in Mexican law has now partially opened the county to foreign business. That could be a big opportunity for Texas companies familiar with the oil and gas rich Eagle Ford shale that straddles the border.
Some estimates have already said a shale boom in Mexico could grow the Texas economy by tens of billions of dollars. Others say it's too early to tell.