Big Oil and some politicians are constantly clamoring to open up more regions for oil exploration, but why? Look at all the land they are already leasing or have been offered for leasing!
Image and Via: Sierra Club
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Speaking from the Mexican perspective, there is A TON of oil in the gulf of Mexico. However, Pemex has a huge stake there, and the U.S would have to be nice about immigration before they get more oil out of Mexico.