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Quick Facts!!

Quick Facts!!. Located in the northernmost part of South America was once part of Gran Colombia (Guyana and Colombia) Sits very close to the equator in Northern Hemisphere Known for its vast petroleum industry considered one of 17 mega diverse countries in the world

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Quick Facts!!

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  1. Quick Facts!! Located in the northernmost part of South America was once part of Gran Colombia (Guyana and Colombia) Sits very close to the equator in Northern Hemisphere Known for its vast petroleum industry considered one of 17 mega diverse countries in the world Around 912,050 square kilometers

  2. Quick facts !!! cont. • Spanish id the leading and official language along with other dialects • Roman Catholic is the leading religion with 96% of population • Has a Federal republic with 5 branches, currently led by Hugo Chavez • Caracas, as the capital city • Major on exports of coffee and cocoa • also one of the five founding members of OPEC • Has the Bolivar as the currency

  3. ‘Quick Overview’ • The nationalization of oil becomes a trend strongly in Latin America with Bolivia, Ecuador, but ultimately led by Chavez of Venezuela • 77% of the world’s reserves are owned by different companies in different nations • Chavez is seemed as almighty force, whose number one motivation is oil….Bolivarian socialism….a so called philosopher of economy…somewhat anti imperialism…to top it all off a mini version of Jesus • Venezuela is always looked on with interest because it’s historically oil-governed…..is against globalization…RICH country of POOR people?????

  4. Quick Overview(cont.) • Now where is the money going????......Someone is stealing or doesn’t know how to spend it properly.(opinion) • oil dependent nations tend to be poorer..more conflicts(Fact) • Because of the lack of manufacturing – no middle class is form- you’re either rich or poor • Less taxes+ less accountability=HIGH level of corruption • Pdvsa (petroleum de Venezuela) is the state owned petroleum company and plays a huge role in Venezuela’s economy and society

  5. Luis Guisti-head of Pdsva since 1994-1999…wasn’t liked by Chavez very much because it was believed he had closed ties with other nations • Guisti despised and didn't follow OPEC’s policies and became independent • after getting fired by Chavez in 1998-became an energy advisor of the US…something like Guist/Bush VS Chavez/Castro… a little intense

  6. Part of Pdvsa includes a well known US, running gas station CITGO….heavy and extra crude(not good) • !990-Pdvsa became one of the top three oil refiners in USA • FACT- !998-real wages were less than 40% than they had ever been in 1980!!!!!!! AND 33% of population living in extreme poverty…went up by 11%, since 1980 • Venezuela not only killing the world’s natural life, but itself also…Venezuelans' gorge on gas 4x more cars than they did 4 years ago • oh by the way….Chavez has a secret of $14 Billion a year!!!! • 2008-barrel went from $9 to $100….WOW!!

  7. Pdvsa is now on the edge of collapsing….shortage of rigs..needs 191 and has 73. • The whole country is suffering, well everyone except Chavez…people have awful housing..children are not attending school…food is scarce Bolivar is being overvalued • Venezuela is worse than EVER before…Chavez= economic failure…oil is just not enough anymore…who will SUFFER…FUTURE generation NOT Chavez!!!

  8. A little after the Beginning…. 1908-1935- Venezuela becomes the world’s largest oil exporter & Dictator Juan Vicente Governs 1947-48- 1st democratically leader, Romulo Gallegas is overthrown within 8 months by military coup led Marcos Perez Jimenez - Perez Jimenez forms the government from the backing up of the armed forces and the U.S

  9. Democracy…the best choice.. • 1958-Wolfgang Larrazal removes Perez-Jimenez • Romulo of Demo-Action(AD) wins Presidential election • 1960- Revolutionary Left movement splits from AD and starts an anti-government work • 1964-1st Presidential election handover from one to another takes place and Dr. Raul Leoni is elected president

  10. Oil can be a competition!! • 1973- Currency (Bolivar) becomes against the US dollar • Benefits from oil rise up dramatically, while steel and other industries nationalize • 1983-84- major cuts in welfare because of the drop of oil prices • Elected president, Dr. Jaime Lusinchi (AD) signed many pacts including trade and government

  11. Hugo Chavez Era…full of controversy • 1992- about 220 people killed in two attempted coups • 1st one led by future president Hugo Chaves and the 2nd one led by his loyal supporters Hugo Chavez is jailed for two years as a result • 1993-95- Ramon Jose takes the place of the current president, Perez due to the expulsion for corruption • 1996-Perez is now imprisoned • 1998- Hugo Chavez is elected president

  12. Hugo Chavez…has power • 2000- Jose Vicente, a foreign minister discloses the plot to kill Chavez • Hugo Chavez wins another six years in office and pursues political an other reforms • Chavez becomes the first foreign head of state to visit Iraq, since the 1991 Gulf war • 2001(Nov.)- Chavez appears on TV for the welcoming of 49 new reforms and laws dealing with trade and oil • Reforms weren’t and didn’t have to be passed by the national assembly

  13. Hugo Chavez…has Power(Cont.) • 2002(Feb.)- the Bolivar decreases the US dollar by 25% • April- Around 150,000 people rally in support of oil protest • National guards and ProChaves brutally crushed protesters • Chavez now returns after the collapse of the interim government • 2002 – coup led by the US,[unfortunately] Chavez escapes death and recovers

  14. And Chavez continues • 2003- governments signs deals, which sets out the framework of Chavez’s power • Dec.-2nd petition is delivered containing 3.4 million signatures • 2004- Chavez is able to win the referendum, which decided if he could serve for the remaining of 2 1/2 years of his term

  15. 2205-Pat Roberson(700 Club)-first try to assassinate Chavez.. “You know, I don't know about this doctrine of assassination, but if he thinks we're trying to assassinate him, I think that we really ought to go ahead and do it. It's a whole lot cheaper than starting a war.” 2005- Chavez agrees to sign the land reform, which distributes land to the poor, which made the rich very angry June- Venezuela and other 13 Caribbean countries launch a regional company in Caracas 2006-Chavez signs a $3bn armed deal with Russia Wins 3rd term election with 65% of the votes 2007-Had his first defeat in the ballots when trying to extend his power even more

  16. 2008-problems with Colombia start to settle • Sept. Russia visits Venezuela when signing the oil and gas corporation agreement • 2009- tension between Colombia and Venezuela start to rise up again after Bogota accuses Venezuela of supplying arms to rebels and Chavez accuses Colombia for allowing their troops to cross over the common border • 2010-Chaves devalues the Bolivar by 17% against the US dollar in hope to boost revenue fro their oil experts

  17. Most Current Issues-Blogs!! • Venezuela’s Pdvsa buys 49% stake of Dominican republic refinery • Venezuela’s currency and economy drops to a record low… “The currency’s decline is “worrying,” Ricardo Sanguino, the head of the National Assembly’s finance committee” • Venezuela is supplying 150,000 bpd crude to India…3rd largest consumer • Venezuela is now entering great crisis!!-“The government is paralyzed, unable to handle the situation — and there are no fiscal plans to deal with the crisis,” said José Guerra, a former Central Bank economist who directs the economics department at Central University in Caracas, the capital.

  18. http://www.freerctv.com/blog-entry.php?entry=15 • http://www.bendweekly.com/Opinion/Editorials/11078.html • http://emilytothesecond.wordpress.com/political-cartoons/ • http://www.cartoonstock.com/newscartoons/directory/p/politican.asp... 2nd one

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