Juan Pablo Pérez Alfonzo

Juan Pablo Pérez Alfonzo (13 December 1903 – 3 September 1979) was a prominent Venezuelan diplomat, politician and lawyer primarily responsible for the inception and creation of the OPEC, along with Saudi Arabian minister Abdullah Tariki.

Early life and education Born in Caracas, Venezuela, Pérez Alfonzo was initially a medical student at Johns Hopkins University before pursuing a PhD in political and social sciences at the Central University of Venezuela.

Political career

Gallegos administration and subsequent exile Pérez Alfonzo helped found the political party Democratic Action (AD; Acción Democrática). As Minister of Development during the first democratic government of Venezuela, the short-lived administration of Rómulo Gallegos (1947–1948), he was responsible for increasing oil revenues for the country by raising taxes through what later became known worldwide as the 50/50 formula. Initially, the Seven Sisters (the dominant Anglo-American oil companies), responded to the 50/50 law by threatening to ramp up production elsewhere while slowing down production in Venezuela. Perez Alfonso subsequently encouraged other governments to adopt the 50/50 formula, which they ultimately did. The 50/50 formula was the global norm until 1970.

Personal life He was an ascetic vegetarian. This was the case during the "1980s oil glut". OPEC member countries were not adhering strictly to their assigned quotas, and once again oil prices plummeted.

El Vigía's Juan Pablo Pérez Alfonzo Airport was named in his honor in 1991.

Since 1998, the Orden Juan Pablo Pérez Alfonzo (Order of Juan Pablo Pérez Alfonzo) is the Venezuelan award of state given to those who contribute to works related to mining, petroleum, and energy.

Books Petróleo: jugo de la tierra. Caracas: Editorial Arte, 1961. La Dinámica del petróleo en el progreso de Venezuela. Caracas: Central University of Venezuela, 1965. Petróleo de vida o muerte (debate with Arturo Uslar Pietri). Caracas: Editorial Arte, 1966. El pentágono petrolero: la política nacionalista de defensa y conservación del petroleo. Caracas: Revista Política, 1967. ¿Hasta cuándo los abusos de La Electricidad?: informe sobre el caso Guarenas. Guarenas: Municipal Council, 1969. Petróleo y dependencia. Caracas: Síntesis Dos Mil, 1971. Hundiéndonos en el excremento del diablo. Caracas: Editorial Lisbona, 1976. El desastre (with Domingo Alberto Rangel and Pedro Duno). Valencia: Vadell Hermanos, 1976. Alternativas (with Iván Loscher). Caracas: Garbizu & Todtmann Editores, 1976. Venezuela y el petróleo. Caracas: Centro Gumilla, 1976.