Saturday, September 26, 2009

Misleading Pemex Headline

Sometimes I think financial writers want to make investors become stupid. Judge for yourself with this one:

Mexican oil production fell again in August but state oil company Pemex said it had some early indications the rapid fall in output at its giant Cantarell field may be slowing.

Notice the headline doesn't do the text justice, as it lacks nuance with nary a mention of the oilfield's "rapid fall." Cantarell will deplete sooner or later. Why imply otherwise?