Abstract

MORA CONTRERAS, Jesús. The power of the major International Oil Companies: 1900-1950. Inv. Econ [online]. 2002, vol.62, n.241, pp.153-183. ISSN 0185-1667.

Between 1900 and 1950, the major international oil companies managed to success­ fully impose a contractual and legal governance concerning the ancient oil concessions on the owners of Middle Eastern and Venezuelan natural resources. They also succeeded in creating an international cartel in order to divide the market among them and enforce a single basing point pricing system for crude oil.