Asked in
World War 2
Property Law

Did the government of Mexico expropriate a US oil company many years ago perhaps before World War 2?


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August 03, 2013 2:42AM

Yes, in 1938, just before the war. Its apparently a bit of larceny of which the Mexicans are quite proud, as the Mexican government issued a commemorative coin to mark the 70th anniversary of the heist in 2008. The oil industry is nationalized in Mexico now, through the state-owned company Pemex. They keep gasoline prices ridiculously cheap, like fifteen cents per gallon, because the government doesn't want to do anything to help the 99% of Mexicans who are completely impoverished. Even poor people can afford a little gas at those prices.