Big Oil's Bet on Mexico Underscores Why Trump Shouldn't Shred NAFTA

For the first time in eight decades, retail gas stations in Mexico are getting competition from foreign firms — and a lot of it. It makes for a great illustration of the benefits of capitalism and, with NAFTA renegotiations languishing, for an especially timely lesson in how connected our economy is to that of our southern neighbors. Irving-based Exxon Mobil turned heads this month by announcing plans to spend $300 million over the next decade opening gas stations in Mexico, the fifth-largest retail gasoline market in the world. Eight opened already, and 50 should be open by the spring. California-based Chevron and a consortium of partners have announced plans to open stores in Mexico, too. BP and Royal Dutch Shell are also on the ground in Mexico. Shell, which opened its first gasoline station in Mexico in September, plans to open 1,000 more within the decade.  Continue reading...