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SECRET
DECLASSIFIED
E. O. 11652, Sec. 3(E) and 5(D) or (E)
-3-
Dept. of State letter, Aug 9, 1973
By NLT.
NARS Date(2.7.79
The party in power, the Democratic Action Party
(Partido Accion Democrática), was organized during the
period of semi-dictatorship which ended with a military
revolution on October 18, 1945. The revolutionaries
handed over the executive power at once to this Party.
A Constituant Assembly was elected in December 1946
in which the Party won about 70% of the electoral vote.
This was the first "fair" election by United States'
standards in Venezuela's history. A second election was
held in December 1947 for congressmen and for the presi-
dent, which resulted in a similar victory by Accion
Democratica. President Gallegos was inaugurated on
February 15, 1948.
The "Opposition" and its Activities
The chief opposition party (called COPEI) is composed
of conservative elements in the propertied classes, chiefly
rural land owners. Certain groups associated with this
party have been plotting against the Government fairly
continuously since October 1945, with the collaboration of
minority elements of the Venezuelan Army. Three or four
attempts have been made to overthrow the Government, each
of which has been suppressed, apparently with little
difficulty.
TESMAR
NATIONAL
RECORDS
UNITED
B. CURRENT ECONOMIC PROBLEMS WITH VENEZUELA
Petroleum: Production, Concessions and Taxes
Venezuela is currently producing almost 1 1/3 millions
of barrels of crude oil daily (42 gallons per barrel)
which is about one fifth of the United States' production.
Our principal diplomatic objective in Venezuela is to have
this production continued, and if possible increased.
New concessions have been refused to foreign oil
companies since the revolution of October 1945 for the
avowed purpose of safeguarding national interests. The
three largest producers received sufficient new acreage
between 1943 and October 1945 to satisfey them for the
next three to five years (94% of Venezuela's crude oil is
produced by Creole Petroleum Company which is a subsidiary
of Standard Oil of New Jersey; Mene Grande -- pronounced
"Men-aa", to rhyme with "ten A" -- which is a subsidiary
of the Gulf Oil Corporation; and the Shell group of com-
panies). But the smaller companies, which together account
for the remaining six precent of the country's production,
need new acreage now. Venezuelan authorities have repeat-
edly declared that they will grant no new concessions, nor
other facilities for increasing production, until the
Government's large dollar income can be utilized fully in
obtaining increased imports of certain commodities from the
United States. These are chiefly steel, machinery and food.
The
SECRET
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"ocrText": "SECRET\nDECLASSIFIED\nE. O. 11652, Sec. 3(E) and 5(D) or (E)\n-3-\nDept. of State letter, Aug 9, 1973\nBy NLT.\nNARS Date(2.7.79\nThe party in power, the Democratic Action Party\n(Partido Accion Democrática), was organized during the\nperiod of semi-dictatorship which ended with a military\nrevolution on October 18, 1945. The revolutionaries\nhanded over the executive power at once to this Party.\nA Constituant Assembly was elected in December 1946\nin which the Party won about 70% of the electoral vote.\nThis was the first \"fair\" election by United States'\nstandards in Venezuela's history. A second election was\nheld in December 1947 for congressmen and for the presi-\ndent, which resulted in a similar victory by Accion\nDemocratica. President Gallegos was inaugurated on\nFebruary 15, 1948.\nThe \"Opposition\" and its Activities\nThe chief opposition party (called COPEI) is composed\nof conservative elements in the propertied classes, chiefly\nrural land owners. Certain groups associated with this\nparty have been plotting against the Government fairly\ncontinuously since October 1945, with the collaboration of\nminority elements of the Venezuelan Army. Three or four\nattempts have been made to overthrow the Government, each\nof which has been suppressed, apparently with little\ndifficulty.\nTESMAR\nNATIONAL\nRECORDS\nUNITED\nB. CURRENT ECONOMIC PROBLEMS WITH VENEZUELA\nPetroleum: Production, Concessions and Taxes\nVenezuela is currently producing almost 1 1/3 millions\nof barrels of crude oil daily (42 gallons per barrel)\nwhich is about one fifth of the United States' production.\nOur principal diplomatic objective in Venezuela is to have\nthis production continued, and if possible increased.\nNew concessions have been refused to foreign oil\ncompanies since the revolution of October 1945 for the\navowed purpose of safeguarding national interests. The\nthree largest producers received sufficient new acreage\nbetween 1943 and October 1945 to satisfey them for the\nnext three to five years (94% of Venezuela's crude oil is\nproduced by Creole Petroleum Company which is a subsidiary\nof Standard Oil of New Jersey; Mene Grande -- pronounced\n\"Men-aa\", to rhyme with \"ten A\" -- which is a subsidiary\nof the Gulf Oil Corporation; and the Shell group of com-\npanies). But the smaller companies, which together account\nfor the remaining six precent of the country's production,\nneed new acreage now. Venezuelan authorities have repeat-\nedly declared that they will grant no new concessions, nor\nother facilities for increasing production, until the\nGovernment's large dollar income can be utilized fully in\nobtaining increased imports of certain commodities from the\nUnited States. These are chiefly steel, machinery and food.\nThe\nSECRET"
}