Word: venezuela
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Dates: during 1970-1979
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...Pepe" Figueres-sometimes called El Enano (the dwarf) because he stands only 5 ft. 3 in.-is the grand old man of Latin America's democratic left. In the small band of democratic reformers (including Venezuela's Romulo Betancourt. the Dominican Republic's Juan Bosch, Peru's Raul Haya de la Torre) who only recently seemed to be Latin America's best hope for nonviolent change, he remains one of the few effective survivors...
...would inundate the U.S. and put domestic producers out of business. Though the domestic producers have drunk long and deeply at Washington's subsidy well, they do provide insurance against foreign price rises. There is also the balance of payments to consider and the claims of Canada and Venezuela to a continuing place in the U.S. market...
...historic justification for import restrictions rest primarily on a highly questionable assumption: that Texas and Louisiana producers must be protected to provide a reliable supply of oil in time of emergency. The argument has become increasingly threadbare. The U.S. has varied and reliable sources of supply, including Canada and Venezuela, and Alaska North Slope oil will be coming on stream in 1975. That would be enough to assure supplies through anything but a nuclear war, when the question would probably be irrelevant...