Cárdenas oil expropriation

The Cárdenas oil expropriation occurred in 1938 when Mexican President Lázaro Cárdenas nationalized the country's oil industry, which was largely controlled by foreign companies, mainly American and British. Recognizing the need for Mexico to control its resources and ensure fair profits for its people, Cárdenas took over oil properties without compensation to the foreign firms. This bold move aimed to assert national sovereignty over natural resources, boost Mexico's economic independence, and promote social development. The expropriation strained relations with those countries but strengthened Mexico's sense of control over its own resources.