Summary of Uncovering the Secret History of Wall Street’s Largest Oil Trade
Bloomberg Business, 2017
Mexico did what other oil-producing countries don’t – and made a lot of money along the way.
If you have never heard of Mexico’s large, annual oil bets, it’s for good reason: Since the early 1990s, the Mexican government has gone out of its way to keep its Wall Street activities under wraps. Javier Blas, chief energy reporter at Bloomberg News, has gone through thousands of pages of government audit reports and other documents in the United States and Mexico, as well as interviewed government officials, traders and bankers, to tell the story of how Mexico has been protecting itself from oil price fluctuations for all these years. getAbstract recommends this piece of first-rate investigative reporting to energy traders, policy makers and Wall Street insiders.
In this summary, you will learn
- How Mexico protects itself from revenue losses due to fluctuating oil prices,
- Why oil price hedges have been a lucrative source of revenue for Mexico and
- Why no other oil-exporting state has followed Mexico’s model of locking in the price of oil.
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