Venezuela, the Oil-State (03:24)
The government controls the oil and gas industry, and uses profits to fund the country. The model works well when gas prices are high but can be disastrous when they are low. In 1989, plummeting oil prices caused a wave of riots, looting, and shootings.
After Caracazo (08:32)
Venezuela experienced a period of political instability following the Caracazo. It led to the rise of numerous workers' rights organizations and Hugo Chavez as a revolutionary leader. The new government attempted to nationalize other industries.
Chavez's Government (07:39)
Many Venezuelans accused the government of turning its back on socialism, the goal of the Bolivar Revolution. When Chavez gained political power, he turned the country into a militant, fascist state. The country relys on imports and produces few goods other than oil.
Maduro's Government (06:25)
Nicolas Maduro took became president in 2013. The country has been in a state of political crisis and economic failure. Most of the representative elements of the government have been removed.
Maduro's Right-Wing Politics (07:32)
Maduro's government kept most of the country's wealth and is riddled with corruption. His politics harmed workers' rights; Venezuelans labeled his government "anti-worker."
Maduro's Governmental Failures (07:28)
Venezuela's dependence on oil increased under Maduro. Some believed disruption of resources caused hardship. Maduro declared a state of emergency in 2016, which gave him more authoritarian powers.
Venezuela's Current Situation (07:02)
Maduro nationalizes the import and export of food. Some believe the Caracazo did not change anything. Oil prices are dropping, and the food shortage causes riots and looting.
Credits: In the Shadow of the Revolution (02:41)
Credits: In the Shadow of the Revolution
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