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May 9, 2019 · Then-dictator Gen Juan Vicente Gomez allows more than 100 foreign oil companies into Venezuela and, by 1928, Venezuela becomes the world’s second-biggest petroleum exporter. The influx of oil...
May 14, 2018 · A man of marked native shrewdness and utter ruthlessness, Gómez took advantage of this change to build up what was said at the time to be the largest fortune in South America, while treating Venezuela largely as his personal plantation.
As president, Gómez managed to deflate Venezuela's staggering debt by granting concessions to foreign oil companies after the discovery of petroleum in Lake Maracaibo in 1918. This, in turn, won him the support of the United States and Europe and economic stability.
Even before the oil development at Lake Maracaibo after 1918, he had put Venezuela on a sound financial basis; he was noted for fair dealing with foreign investors, and the capital he attracted made it possible for him to build Venezuela into a modern nation of railroads, highways, and other public works.
Sep 22, 2009 · When Gómez seized power in 1908 his underlying objectives were to bring peace and work to Venezuela. By engineering his political supremacy he managed to secure peace, but the latter objective would be ensured only by laying the foundation for a stronger and more modern economy.
May 1, 1984 · Knowledgeable historians of the Gómez era are apt to raise their eyebrows at McBeth’s assertion that Gómez “did not become an instrument of the oil companies . . . and, that considerable protection was extended to the workers in the industry (p. 214).
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After looking briefly at the reasons for the oil fraternity's choice of Venezuela, the book examines the relationship between Gómez's government and the oil companies during this period.
