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Government And Private Enterprise In Latin American Petroleum Development, Frank M. Lacey

Vanderbilt Journal of Transnational Law

The nationalization of the Venezuelan oil industry on January 1, 1976, can be viewed in a sense as a culmination of more than half a century of striving on the part of Latin American republics to become the masters of their own most important resources, one that has seemed at times symbolic of their very destinies. It is a process that has involved nearly every major country in Latin America. It is one that has been resisted by the prevailing economic, political, and legal institutions, and in the course of which not only major business enterprises but nations as well …