When nationalistic, left-wing President Lazaro Cardenas expropriated the great foreign oil companies, Mexicans went on a patriotic spree. Exultant workers hailed the end of "foreign exploitation" as they paraded through city streets and village plazas; bands blared; housewives offered their silver to help pay for the $400,000,000 seizure. That was eight years ago. Last week TIME learned that President-elect Miguel Aleman might let foreign oil interests return.
The Mexican Government's attempt to run the oil industry has been a dismal flop. Pemex (Petroleos Mexicanos), the operating company, has been loaded with...
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