Mexican Cartels Steal $1.1B in Oil

Just as oil companies get ready to milk shale fields in the Gulf Coast region bordering Texas, new statistics from state-owned Petroleos Mexicanos show how cartels ruling the region have managed to get rich off the petroleum industry. According to Pemex, gangs across Mexico have stolen 7.5 million barrels of oil, valued at $1.15 billion in 2014 alone. That was accomplished by drilling 2,481 illegal taps into the state-owned pipeline. Over a fifth of those taps took place in Tamaulipas, the region being explored for its shale gas.