Word: venezuala
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...spread beyond Nicaragua's borders, into the hills of neighboring Costa Rica where Somoza's planes and artillery have been hitting alleged rebel bases. Costa Rica, which until this year relied primarily on a small civilian defense force, has reportedly begun purchasing weapons from abroad. The possibility exists that Venezuala (who cut off Nicaragua's oil shipments during the fighting in the fall) and the pro-Somoza governments of Guatemala and El Salvador could become involved in the conflict...
Until 1960, the producers' cartels faced disorganized opposition from the producing governments. At that time, the Organization of Petroleum Exporting Countries was formed among the producer governments (including Venezuala, Saudi Arabia, Iran, Kuwait, Qatar, Libya, Indonesia and Abu Dhabi to keep prices high, and prevent the cartels from bringing pressure on single countries. Since that time, producer nations have won a higher share of oil company profits, and begun to establish national companies of their own, often in partnership with western companies...
...situation of the oil industry may become more common as multinational corporations proliferate. The oilmen profit from the special treatment accorded them by home governments--at one time including the gunboat diplomacy that helped American companies negotiate favorable contracts with Venezuala, and eased British Petroleum's entry into the Middle East oilfields, and now incorporated in tax breaks like the U.S. oil depletion allowance. But because of their size, their international connections, and the economic clout of their cartels, the oilmen form a class by themselves, independent of the separate nations they supply and deal with. Negotiating with the Arabs...