Calderon Addresses Mexican Nation On Collapsing Oil Production

Oct. 22 (Bloomberg) -- Mexican President Felipe Calderon is delivering a grim message: The largest oil producer in Latin America is running out of crude. ``Our oil reserves have been consistently falling,'' and the decline is ``severely threatening'' government finances, Calderon told a nationwide television audience in an address last month at the National Palace. That's the same place where seven decades earlier Lazaro Cardenas cemented the anti-American legacy of his presidency by nationalizing the petroleum industry.