MEXICO: Squeeze

Brushing aside an international agreement and overruling a decision of the Mexican Supreme Court rendered year ago, President Lazaro Cardenas last week nationalized by decree 2,000,000 acres of oil lands held largely by foreign concerns in the States of Tabasco, Campeche, Chiapas. A sweeping decree, employing Article XXVII of the Constitution, which makes all subsoil wealth the property of the Government, turned over to the National Petroleum Administration some 100,000 acres subleased by Standard Oil Co. of California, 250,000 acres leased by the Richmond Petroleum Co. of Mexico, Standard Oil Co. of...

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