Word: colombian
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Dates: during 1921-1921
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...Colombian Oil Has Possibilities...
...most significant feature of American penetration into Colombia during the past few years has been in connection with the petroleum industry. Thus far the Colombian oil production has been amounting only to a few thousand barrels for local consumption. The rich possibilities of these deposits, however, and the relation of the American concessionaires to the Colombian government are factors which will figure conspicuously in the future relations between the United States and Colombia...
There are three salient features to the Colombian petroleum industry: first, the marked predominance, amounting almost to monopoly, of American capital in that field; secondly, the difficulty of access from the seaboard to the richer deposits, necessitating excessive costs of pipe line construction and drilling, which are nearly double those for corresponding work in this country and Mexico; thirdly, the legal status of the industry was radically changed in November and December, 1919, when a decree of the Colombian Supreme Court, followed by a new petroleum code, put an end to various government owner ships and "nationalization" schemes and removed...
...evident, then, that the greater part of the more promising Colombian deposits is in the hands of Americans, though it may be noted in this connection that the Carib Syndicate is associated with the British-controlled Burlington-Royal Dutch Shell interests in the exploitation of the western Venezuelan fields adjoining the Colombian properties of that syndicate...
...Colombian government's oil policy, as expressed in its code of December, 1919, is, in the opinion of competent experts, "sound in principle and workable in general details". That code is not unlike the United States oil land leasing bill, according to Judge J. W. Thompson of the United States Bureau of Mines. Hostile criticisms have been aroused, however, by the proposed assessment of high taxes varying from 10 to 20 percent of the gross product and by the close supervision of exports as a means of levying such taxes. It is evident from the above that the Colombian petroleum...