Since they were forced out of Mexico in 1938, most major U.S. oil companies have shown little desire to go back in, despite repeated invitations. Last year, Cities Service Co., the only one that had not left Mexico, took on a job of drilling new wells. But otherwise, the best deal that Antonio J. Bermudez, boss of Pemex, Mexico's oil monopoly, could make was with J. Edward Jones, a small U.S. oil promoter, to drill 100 wells (TIME, Sept. 22, 1947). He drilled one, and it was dry.
This week, Bermudez, still trying to get U.S. know-how to help...
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