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 Mexican 'Black Market' Booming: Drug Cartels Looting Government's Oil & Gas Pipelines, Citizens Get Cheaper Fuel

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PostSubject: Mexican 'Black Market' Booming: Drug Cartels Looting Government's Oil & Gas Pipelines, Citizens Get Cheaper Fuel   Tue Jan 24, 2017 1:08 am

...Mexico's drug cartels have been looting Pemex oil and gas pipelines in an effort to create their own brand new black market for petroleum products.  With a modest upfront capital investment of $5,000 - $8,000, the cartels have realized they can tap directly into state-owned gas pipelines and withdraw seemingly unlimited supplies of gasoline which they then sell along the highway at a discount to official government prices.  It's a win-win situation whereby the drug cartels make 100% profit margins and citizens get "cheap" fuel.




Quote :
The black market is booming. Several states experienced gasoline shortages at the end of last year as more thieves tapped into state-owned Petróleos Mexicanos (Pemex) pipelines. The pilfered fuel was sold to drivers hoping to save money. Pipeline theft in 2015 increased sevenfold, to more than 5,500 taps, from just 710 in 2010. Pemex attributes the company’s 12-year slide in crude production in part to the growth in illegal taps.
 
The drug cartels have turned to fuel theft as a side business worth hundreds of millions of dollars each year, and crime groups focused solely on gasoline robbery have sprung up, says Alejandro Schtulmann, president of Empra, a political-risk consulting firm in Mexico City. “You only need to invest $5,000 or $8,000 to buy some specific equipment, and the outcome of that is huge earnings.”
 
Fuel theft creates a vicious cycle: The theft increases costs for Pemex and makes the official gasoline supply more scarce, contributing to higher prices for legal consumers. Theft amounts to about $1 billion a year, says Luis Miguel Labardini, an energy consultant at Marcos y Asociados and senior adviser to Pemex’s chief financial officer in the 1990s. “If Pemex were a public company, they would be in financial trouble just because of the theft of fuel,” he says. “It’s that bad.”

http://www.zerohedge.com/news/2017-01-23/mexican-protesters-seize-control-us-border-crossing-tijuana

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