ABSTRACT
The return of the Liberal Party to power for the first time in the twentieth century marked a turning point both in Colombia's history and in petroleum policy. The revocation of the Barco Concession in 1926 had given the Colombian government a significant alternative; were important fields overflowing with oil ready to be pumped without requiring any expenses for exploration. Nationalistic sentiment against granting the Barco Concession to Gulf was so strong in the country that Olaya Herrera reluctantly concluded that an out-of-court settlement would face legal difficulties and that instead, to prevent a series of crippling lawsuits, congressional approval was needed. President Olaya Herrera faithfully reflected the new elite attitudes when he placed the state refinery proposal within a larger policy to bring competition against Exxon. Playing the French card had failed to counter the Exxon monopoly, and the Colombian government renewed the efforts to bring back the English.
