ABSTRACT
The petroleum industry has taken on not only economic importance but political importance as well. Mexico must reduce its dependence on oil. This is a fundamental objective of its long-term development strategy. In the industrial countries many people resent the decrease in their exports to high-debt countries like Mexico, and they have also begun to feel the competition from Mexico's own exports. In 1982 Mexico was forced to ask for a deferral of principal payments on its foreign debt. This dramatic event shocked the financial world. The headquarters of the Worker's Confederation of Mexico is an illustrious entity in the battle for social rights, and one that was at the forefront during the memorable episodes of the oil expropriation. The economic and financial success of the oil industry has been a result of stricter measures taken in operations and investments, better control of its budgets, increased productivity, and reduced costs.
