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| Topic: |
Social Issues
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| Number of pages / Number of words: |
13 / 3494 |
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Venezuela became another nation, with a mining mentality and an economy dependent on oil exploitation. With the oil sector as a major part of Venezuela’s economy, the country’s general economic growth shows highs and lows, which will be discussed after a short review of the government procedures in the past...
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Oil as a major government issue
Some important steps in the oil history of Venezuela were determined by main politicians who tried to manage the oil resources effectively.
Romulo Gallegos, who served as the country’s president for some three months during 1948 and who was a member of the “Partido Accion Democraticaâ€, wanted to control the oil production by introducing a 50 % contribution of profits, payable by companies in order to support the state...
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