Fox: Public-private spending key to gas production

By adapting a public-private investment scheme from Great Britain, an "expert" in the area, Mexico's government has been able to maneuver its way around political resistance to change to the point where 5,000 natural gas wells will be drilled in the Burgos basin and US$5bn will be invested this year, president Vicente Fox said in a speech Thursday. "If we continue with the orthodox formulas that have marked us, the gas would continue to be there, in the ground, sleeping," Fox said referring to the country's traditional public only investment scheme. Meanwhile, "Texas extracts and extracts and extracts gas to sell it to us at ever higher prices and we buy it because we have nowhere else to buy it and because we don't produce our own natural gas," Fox said.