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The Role of Mexico in the First Oil Shortage: 1918-1922, an International Perspective

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Author Info
M. del Mar Rubio Varas

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Abstract

In 1921 Mexico produced a quarter of world’s petroleum, making the country the second largest producer in the world, but by 1930 it only accounted for 3 per cent of world’s production. To date the discussion has mostly relied on events taking place in Mexico for explaining the decline of the industry. Very little attention has been placed to developments in petroleum industry elsewhere, except Venezuela. Practically no attention has been paid to the reasons for the rise of oil output in Mexico. This neglects the massive changes taking place in the petroleum industry worldwide during the Great War years and its aftermath, and overall ignores the shortage of oil that occurred in the world’s markets between 1918-1921. These are crucial events in order to understand the early rise of the Mexican oil industry and set the basis for a better understanding of the subsequent sudden decline.

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File URL: http://www.econ.upf.edu/docs/papers/downloads/888.pdf
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Publisher Info
Paper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 888.

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Date of creation: Sep 2005
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Handle: RePEc:upf:upfgen:888

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Related research
Keywords: World’s petroleum supply; Mexico; First World War; energy shortage;

Find related papers by JEL classification:
N70 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - General, International, or Comparative
N40 - Economic History - - Government, War, Law, and Regulation - - - General, International, or Comparative
N56 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Latin America; Caribbean

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  1. Haber, Stephen & Maurer, Noel & Razo, Armando, 2003. "When the Law Does Not Matter: The Rise and Decline of the Mexican Oil Industry," The Journal of Economic History, Cambridge University Press, vol. 63(01), pages 1-32, March. [Downloadable!]
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This page was last updated on 2009-11-27.

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