How did Betancourt approach the oil industry?
Privatization
Nationalization
Monopolization
Liberalization
Answer
Nationalization was Betancourt's approach to the oil industry in Venezuela. This policy involved the government taking control of foreign-owned oil companies and managing them as state-owned enterprises. Betancourt believed that nationalization would allow Venezuela to have greater control over its natural resources and ensure that the profits from oil production would benefit the Venezuelan people.
The Political Legacy of Rómulo Betancourt: A Journey Through Venezuelan History
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