The first presidency of Carlos Andrés Pérez (from 1974 to 1979) coincided with the oil boom of 1974, which saw Venezuela's economy prosper. Carlos Andrés Pérez launched a program of rapid modernization. His first presidency also saw the nationalization of the oil industry. He regained the presidency in 1988 (Second Presidency of Carlos Andrés Pérez). Background In 1973, Carlos Andrés Pérez was nominated to run for the presidency for AD. Youthful and energetic, Perez ran a vibrant and triumphalist campaign, one of the first to use the services of American advertising gurus and political consultants in the country's history. During the run up to elections, he visited nearly all the villages and cities of Venezuela by foot and walked more than 5800 kilometers. He was elected in December of that year, receiving 48.7% of the vote against the 36.7% of his main rival. Turnout in these elections reached an unprecedented 97% of all eligible voters, a level which has not been achieved since. Many people were skeptical that Venezuelans would choose such a controversial figure as Pérez, but when the results were in they showed he had won a clear a victory, but, what was even more important, AD had an absolute majority in Congress: the pardo masses were still adecos to the core (1973). Pérez's appeal was not only to the poor but also to the elite and the middle class, for, it was widely reported in political circles and the media, that his political advisor Diego Arria created his public persona as a well-tailored man and in general refurbished his "image". Presidency Domestic policy One of the most radical aspects of Pérez's program for government was the notion that petroleum oil was a tool for under-developed nations like Venezuela to attain first world status and usher a fairer, more equitable international order. International events, including the Yom Kippur War of 1973, contributed to the implementation of this vision. Drastic increases in petroleum prices led to an economic bonanza for the country just as Pérez started his term. His policies, including the nationalization of the iron and petroleum industries, investment in large state-owned industrial projects for the production of aluminium and hydroelectric energy, infrastructure improvements, and the funding of social welfare and scholarship programs, were extremely ambitious and involved massive government spending, to the tune of almost $53 billion. His measures to protect the environment and foster sustainable development