even though venezuela was decidedly pro-allied, the government attempted to increase its hold on the oil market, which was dominated by american-owned petroleum firms. one option was to nationalize the oil industry, like mexico did in 1938. this option, however, was never seriously considered, because nationalizing the oil industry meant seizing american-owned oil, which would have likely resulted in a military intervention. although mexico's nationalization of its oil industry did not result in an american military intervention, just the possibility of one was enough to keep the venezuelan government content with seeking a mere increase in its share of profits, rather than taking all of it.