Venezuela’s oil is key to its domestic and foreign politics and the future

Venezuela's President Hugo Chavez launches his Great Mission to All Life on television (photo:dpa)
Venezuela's President Hugo Chavez launches his Great Mission to All Life on television (photo:dpa)

The campaign to find Venezuela’s next president is not just a contrast between the personalities of youth, energy and the new face of Henrique Capriles versus the ever-present survivor fighting ill-health, President Hugo Chavez. In the second of our two-part series on the run-up to October’s election GIS examines the importance of Venezuela’s oil to its domestic and foreign politics in this campaign.

THE HEALTH of President Hugo Chavez is crucial to the future of Venezuela and for up to 40 countries which receive cut-price oil and financial backing from Venezuela’s left-leaning government.

Many countries – particularly the eight in the Bolivarian Alli...

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