Oil Expropriation Day
March 18, Tuesday
Historical Background
Before the expropriation, foreign oil companies controlled much of Mexico's petroleum resources, leading to tensions between the companies, workers, and the Mexican government. On March 18, 1938, President Cárdenas exercised his constitutional authority to expropriate the assets of these foreign oil companies and bring the industry under state control. This action led to the creation of Petróleos Mexicanos (PEMEX), a state-owned oil company.
Significance of the Day
This day is significant because it symbolizes:
- National sovereignty over natural resources
- Economic independence from foreign influence
- Workers' rights and fair treatment in the oil industry
- The leadership of President Lázaro Cárdenas in strengthening national industries
How It Is Observed
Oil Expropriation Day is mainly observed through official ceremonies and educational events. Activities often include:
- Speeches by political leaders highlighting the historic decision
- Wreath-laying ceremonies at monuments honoring Lázaro Cárdenas
- Public discussions about energy policies and national resources
Although it is not a public holiday with closures of businesses or schools, it remains an essential date in Mexico's political and economic history.