The oil is running out: Mexican president

Production is falling at Mexico's old, shallow-water offshore fields and the country has yet to exploit is potential deep-water reserves.

Calderon told the Televisa news network in an interview broadcast Tuesday that he still expected to be able to check the decline in oil output by next year, after his administration pushed through reforms aimed at spurring deep-water drilling.

Calderon says he's sure that by next year “we will be able to stabilize the oil production platform.”

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