South American turning points. (effects of political and economic pressures on petroleum industry) (editorial)

Change is afoot in South America. The continent simmers in political and economic pressures. Some of the pressures already have altered business conditions for foreign oil Companies. Many more likely will do so soon.

All the main South American oil producing countries have struggling economies, underexplored resources, and great capital needs. That combination has created opportunities for foreign companies in some countries and should in all the others. But nationalistic resistance to foreign participation remains strong, even where foreigners are officially welcome.

Nowhere is this more apparent than in Colombia, where foreign companies made important …