The Mexican Petroleum Industry, 1938–1950

The Mexican Petroleum Industry, 1938-1950 provides a comprehensive exploration of one of the most pivotal events in Mexico's modern history: the nationalization of its petroleum industry. On March 18, 1938, Mexico shocked the world by expropriating the assets of major international oil companies, effectively transferring control of the nation’s petroleum resources to the government agency Petróleos Mexicanos (Pemex). This bold move sought to assert Mexico’s sovereignty over its natural resources and reject the perceived economic imperialism of foreign corporations. The book examines the historical, political, and economic factors that led to this decision, the operational challenges faced by Pemex, and the broader implications of the expropriation for Mexico’s domestic development and its international relations. Through meticulous analysis, the study investigates whether the nationalization achieved its objectives, including reducing foreign dependency, meeting domestic consumption demands, and fostering economic independence. It also considers the expropriation's influence on other Latin American nations, many of which viewed Mexico as a model for social reform and economic nationalism. Additionally, the book evaluates Pemex's achievements and shortcomings in areas such as exploration, production, refining, and labor relations, offering insights into the complexities of government-managed industries. Far from simply recounting historical events, this work critically assesses the long-term effects of nationalization, shedding light on the interplay between economic policy, national identity, and global energy politics. This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1956.