Venezuela

Bordered by Colombia, Brazil, and Guyana Capital of Caracas The land area is slightly more than twice that of California. Population of about 27 million (about 912, 050 km 2 ) Major religion is Catholicism (96%) Head of government is a president Their government is a federal republic. Popular tourist spots include Angel Falls (world’s tallest waterfall), the Andes Mountains, and the Caribbean Islands Economy dominated by petroleum Current president is Hugo Chavez Official language is Spanish Current concerns include: weakening of democratic system, drug-related violence along the Columbian border, increase in drug use within the country, overdependence on the petroleum industry, irresponsible use of the rainforest

Venezuelan Economy

Venezuela is highly dependent on its oil revenue It accounts for about 90% of the country’s export income About 50% of the federal budget income About 30% of the Gross Domestic Product Exports million bbl/day (10 th in the world) Oil reserve: billion bbl (7 th in the world) Venezuela contains about 7% of the world’s oil reserves For about 4 decades ( ), Venezuela was the world’s largest exporter of petroleum $$ Oil $$

Venezuelan Economy, cont. Venezuelan Agriculture Corn Sorghum (grain) Sugarcane Rice Bananas Vegetables Coffee Beef Pork Milk Eggs Fish Venezuelan Industries Petroleum Construction materials Food processing Textiles Iron ore mining Steel Aluminum Motor vehicle assembly Venezuelan Exports petroleum bauxite and aluminum steel chemicals agricultural products basic manufactures

Historical timeline of Venezuela 1498 Christopher Columbus landed in Venezuela 1535 The Spanish conquistadors colonize the area of Venezuela 1550 African slaves were shipped to Venezuela to work on plantations 1700s Spain combined Venezuela with neighboring territories into one large colony called the Viceroyalty of New Granada 1810 Overthrow of the king of Spain by Napoleon 1810 The territories of the Viceroyalty of New Granada set up their own independent governments July 5, 1811 Venezuela became the first S. American country to declare its independence from Spain 1812 Simon Bolivar and other revolutionary leaders fled abroad 1814 Spain sent troops to South America to clam the uprising of the colonists 1819 General Simon Bolivar defeats royalist forces in the Battle of Boyaca on August 7 and the Republic of Colombia (also known as Gran Colombia) is proclaimed on December 17, consisting of Colombia, Venezuela, and Ecuador 1821 Spain recognized Venezuela's independence after Simon Bolivar won a major victory against Spanish troops at Carabobo Simon Bolivar established Gran Colombia and became the first president 1830 Ecuador and Venezuela left Gran Colombia to became totally independent 1831 General Jose Antonio Paez became the first president of Venezuela 1800s Venezuela was torn by civil war Gomez ruled Venezuela with strong military backing 1950 Marcos Perez Jimenez became dictator 1958 Jimenez was forced into exile paving the way for a Venezuelan democracy 1960 Iran, Iraq, Saudi Arabia, Kuwait, and Venezuela form OPEC 1999 Hugo Chavez elected President Venezuela adopted its current constitution

Venezuelan Politics: 1950s to Present Marcos Perez Jimenez (1952 – 1958) authoritarian dictator wanted to give the capital city of Caracas a make- over; built the Humboldt Hotel as a show of great wealth (paid for with oil $$) constructed costly buildings while making great cuts in health care and education The US turned their backs on the evil that Perez did because of the amount of oil Venezuela exported to the US under his rule Eventually overthrown in 1958 by a military junta Changes after Perez Many citizens want change in government because of poor health care and poverty Leads to a two-party system: Democratic Action and the Committee of Independent Political and Electoral Organization High rate of incumbent turnover led to a crisis in the election of 1993 The next truly important figure to rise to power was Hugo Chavez in 1999.

Hugo Chavez A failed attempt at a military coup to overtake President Perez in 1992, ended Chavez in prison for two years. Won the election of Was reelected under a new constitution in Changed the official name of the country from the Republic of Venezuela to the Bolivarian Republic of Venezuela, paying homage to the ideas of Bolivar in his overthrow of Spain, just as Chavez seeks to undermine the US. More recently, Chavez has directed his ideals toward “21 st century socialism.” This includes limited social change, political and economic pluralism, and updated ideas of Bolivar. Chavez has a close relationship with Cuba’s Fidel Castro which could prove dangerous for the US when it comes to oil exports. With Chavez in power, the country of Venezuela is seeing increasing changes leading them to become a socialist country.