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Mexico to spend $23 billion to cut greenhouse gases

Mexico's government said it will invest $23 billion to modernize its refineries while sharply slashing greenhouse gas emissionsMexico’s government announced $23 billion in investments on Tuesday to modernize its refineries while sharply slashing greenhouse gas emissions produced by oil-processing facilities and gasoline. While world governments held climate talks in Paris, President Enrique Pena Nieto unveiled $3 billion plans to cut sulphur content in gasoline produced at six refineries of state-run firm Pemex, reducing emissions by 90 percent. Another $3 billion will be spent at three refineries and a gas processing plant so that they can produce their own electricity, cutting 3,000 tonnes of greenhouse gases per megawatts generated each year.

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