Politics and World Oil Economics: An Account of the International Oil Industry in Its Political Environment

By J. E. Hartshorn | Go to book overview

CHAPTER XIX
Producers for Export: The Western Hemisphere

A ll kinds of governments, this book has argued, are nowadays intervening in the oil business; but when you say 'the governments' to any oilman, he thinks of one kind first -- the 'host governments' of the countries from which his industry exports oil. The oil industry is more important to these governments than to any others, and its relations with them are centrally important to it. These relations are always formally governed by legal contract: but even the most binding contract cannot guarantee goodwill, and more than once in the history of this industry the contracts themselves have not turned out in the long run to be binding either.

In its effect, the oil concession can be almost a revolutionary instrument, quite transforming the economy of any country where really rich deposits are found and developed. And the social pressures that this economic development can generate in turn may bear upon the whole structure of established relationships in such a country -- including, ultimately, the concession agreement itself. An oil concession, until recently, at least, has generally been designed to hold one economic and social relationship in such a country stable for usually very long periods -- yet success in its fulfilment necessarily implies accelerated change. This paradox is not always amusing to either party to the agreement.

Some of the nations into which this international industry took the idea of developing oil commercially already possessed established legal systems governing the exploitation of their mineral resources. The first mining law covering Venezuela, for example, was a decree of 1784, making over to the Spanish crown 'whatever fossils, juices or bituminous substances from earth' were found, regardless of who owned the surface, and the same principle was retained after Venezuela attained its independence in 1811. One or two countries where foreign capital

-268-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
Politics and World Oil Economics: An Account of the International Oil Industry in Its Political Environment
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen
/ 365

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.