Mexican Oil Expropriation

The Mexican Oil Expropriation of 1938 was when Mexico's government, under President Lázaro Cárdenas, took control of its oil industry and nationalized foreign-owned companies. This was driven by concerns over unfair treatment, low wages for Mexican workers, and the desire to ensure that oil resources benefited the country. The expropriation aimed to assert national sovereignty over natural resources, leading to the creation of Petróleos Mexicanos (PEMEX), the country's state oil company. It marked a bold move toward economic independence and strengthened Mexico's control over its natural wealth.