Policy-Making and the Quest for Consensus
Nationalizing Venezuelan Petroleum
Bibliographic Data
| ID | 4547199 |
|---|---|
| Authors | John D Martz (University of North Carolina at Chapel Hill, corresponding author) |
| Year | 1977 |
| Volume | 19 |
| Issue | 4 |
| Pages | 483-508 |
| Publication date | 1977-11-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Journal of Interamerican Studies and World Affairs (JOURNAL) |
| Journal identifiers | ISSN: 0022-1937 • E-ISSN: 2162-2736 |
| Publisher | Cambridge University Press (CUP) (PUBLISHER) |
| DOI | 10.2307/165485 |
| OpenAlex | W2784281796 |
| Language | EN |
| Citations received | 1 |
| References cited | 4 |
On 1 January 1976, President Carlos Andrés Pérez formally proclaimed the nationalization of Venezuela's massive petroleum industry. Standing upon the site of Zumaque Number 1, in 1914 the first commercially drilled well in the nation, he thus observed a historic benchmark in the evolution of the relationship between the foreign corporations and the Venezuelan state (Pérez, 1976a). After six decades' concessional exploration and exploitation, an era had ended. From the outset it was apparent that the 1976 nationalization was moderate and nonradical. As will be seen, both compensation and association agreements with international oil interests were central elements in the action. The latter in particular had been the focus during months of acrimonious national debate, as symbolized by article 5 and the Ley de Nacionalización de la Industria Petrolera. Moreover, it was largely upon discussion of its implications that a determined effort to achieve nonpartisan agreement ultimately foundered and sank
China · Compensation (psychology) · Economics · Economy · Petroleum · Petroleum exploration · Petroleum industry · Political economy · Political science · Sociology · State (computer science) · Engineering · Geology · International Relations in Latin America · Law · Public Administration
| Unique citing works | 1 |
|---|---|
| Citations per year | 1 |
| Citation span | 2026 - 2026 (1) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 1 |