Oil, War, and Anglo-American Relations: American and British Reactions to Mexicos Expropriation of Foreign Oil Properties, 1937-1941 (Contributions in Latin American Studies)
by Catherine E. Jayne
Category: Business & Economics

The Mexican expropriation of British and American properties in March 1938 marked the first time any oil-producing country successfully stood up to foreign companies who claimed to own oil properties in that country and who had the support of their respective governments. Although both Washington and London wanted a return to the pre-expropriation status quo, Washington was unwilling to work with London to achieve this goal, and Washington's attitude paralleled its reaction to British efforts to get U.S. support on certain defense issues during this critical period. The resulting Anglo-American strife over how to handle Mexico was also consistent with Anglo-American commercial competition and the oil rivalry in Mexico early in the century.