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3 de Marzo de 1938

2 March 2012

Celebrations in Mexico City following the Lazaro Cardenas’ nationalization of the oil companies.

Viva PEMEX… so what if it’s not run like an oil company should be or doesn’t get the return on investment that an oil company is said to require … it’s not an oil company, it’s a cash center for the state (and provides a lot of the basic services the state would otherwise have to provide directly, or which “private enterprise” would provide less equitably).

Come to think of it, no reason it HAS to export oil anyway.

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