The discovery of enormous oil reserves in the early 1970s revolutionized Mexico's economy and political behavior, bringing soaring revenues and industrial development. The oil glut of 1981 and wild fluctuations in world prices, pushed the country to the brink of bankruptcy. George W. Grayson describes how the roller-coaster economic ride, shrill nationalism, political assertiveness, and arrogant posturing of the 1970s have given way to greater professionalism, fiscal responsibility, and a cooperative attitude towards the United States in recent times.
The Mexican oil boom of the 1970s brought great hope and prosperity with it. George Grayson shows the influence of oil and the oil sector both within Mexican society and in its relations with other nations. He traces the development of the oil industry from its beginnings in 1901 up until the 1980s, looking at topics that include the history of expropriation; the creation of the state-run company Petr—leos Mexicanos; graft and corruption within the Oil Workers Union; Mexico's relations with OPEC; the political nuances of oil and gas agreements with the United States; and the prospects for the Mexican oil industry and domestic reforms generated from oil revenue.
From reviews of the Spanish edition: “Meyer’s perceptive commentary on Mexican power politics presents new insights into the petroleum lobbies in Mexico City and Washington. With unbiased empathy he shows the validity of Mexico’s complaints about foreigners’ deriving an overabundance of profit from a nonrenewable natural resource. He understands United States history and never abuses his license to criticize.” —Hispanic American Historical Review “This useful addition to the literature on twentieth-century Mexican–United States diplomatic relations is a scholarly work, worthy of consideration by all students of the subject.”—American Historical Review Mexico and the United States in the Oil Controversy, 1917–1942 explores the relationship between the United States and Mexico during the first half of the twentieth century, with special attention to the Mexican nationalization of the oil industry. Relying on Mexican archival material never before analyzed, the author presents a unique perspective on the period following the Mexican Revolution and Mexico’s efforts to diminish its economic dependency on the United States. This work not only describes the political and economic struggle between the Mexican government and the U.S. oil companies but also serves to illustrate in general the nature of dependency between Latin American countries and the United States. It will be of interest not only to Mexican specialists but also to diplomatic and economic historians.
Mexico's relationship with the world during the 1930s is revealed as a fascinating series of calculated responses to domestic political changes and international economic shifts.
A study in conflict between a powerful industry and a struggling nation: “This fine monograph . . . addresses an important issue in Mexican history.” —The Americas Mexico was second only to the United States as the world’s largest oil producer in the years following the Mexican Revolution. As the revolutionary government became institutionalized, it sought to assure its control of Mexico’s oil resources through the Constitution of 1917, which returned subsoil rights to the nation. This comprehensive study explores the resulting struggle between oil producers, many of which were U.S. companies, and the Mexican government. Linda Hall goes beyond the diplomacy to look at the direct impact of a powerful, highly profitable foreign-controlled industry on a government and a nation trying to recover from a major civil war. She draws on extensive research in Mexican archives, including both government sources and the private papers of Presidents Alvaro Obregón and Plutarco Elías Calles, as well as U.S. government and private sources. In the wake of the North American Free Trade Agreement’s expansion of United States business ties to Mexico, this study of a crucial moment in U.S.-Mexican business relations will be of interest to a wide audience in business, diplomatic, and political history.
The author has probed archives in both Mexico and the United States to provide a fresh interpretation of [Woodrow] Wilson's conduct of foreign affairs during the Mexican Revolution. Focusing on U.S. dealings with [Venustiano] Carranza, the author shows how Wilson's ideological commitments combined with material concerns to shape his foreign policy.
