About Carlos Andrés Pérez

Carlos Andrés Pérez (1922–2010) was a Venezuelan politician and two-term president who served from 1974 to 1979 and 1989 to 1993, known for his leadership in the Democratic Action party and key economic reforms.[1][2] Born on October 27, 1922, in Rubio, Venezuela, Pérez rose through the ranks of the liberal Democratic Action party under Rómulo Betancourt, serving as his secretary after the 1945 overthrow of President Isaías Medina Angarita. Exiled following a 1948 right-wing coup, he returned in 1958 after the fall of dictator Marcos Pérez Jiménez, holding posts like Minister of the Interior from 1962 to 1963, where he suppressed left-wing radicals.[1][3] Pérez won the 1973 presidential election with 48.7% of the vote amid record turnout, campaigning energetically across Venezuela.[1][2] His first term focused on oil wealth management: he nationalized the petroleum industry in 1976 while retaining foreign expertise, slowed production to conserve resources, and invested in hydroelectric projects, education, steel mills, small businesses, and agriculture.[1][3] He pursued foreign policy autonomy, supporting Panama's Canal claim and restoring ties with Cuba.[1] Elected again in 1988, Pérez shifted to free-market reforms amid economic crises, but faced turmoil including two 1992 coup attempts—one led by Hugo Chávez, who declared failure "por ahora" on television—and riots over austerity measures.[1][2][3] Impeached in 1993 on embezzlement charges, he was removed from office, sentenced to house arrest until 1996, and later served briefly as a lifetime senator in 1999–2000.[1][2][4] Pérez died in Miami on December 25, 2010. His legacy endures in Venezuela's oil nationalization and political transitions, though his second term highlighted corruption and instability amid Chávez's rise.[1][4]

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Venezuela's Oil Nationalization: PDVSA, OPEC, and the Rise and Fall of Venezuela's Oil Wealth

22 Dec 2025 118 views

#oil #nationalization #venezuela #pdvsa #opec

Explores Venezuela's 1976 oil nationalization, the creation of PDVSA, and the long-term impact of governance and corruption.