88-475: Not to be confused with Venezuela . Valenzuela may refer to: Places [ edit ] Valenzuela, Paraguay Valenzuela, Metro Manila, Philippines Valenzuela, Spain Valenzuela de Calatrava, Spain Valenzuela, Louisiana Other uses [ edit ] Valenzuela (surname) , including a list of people with the name Valenzuela (insect) ,
176-401: A 1999 Constituent Assembly , where a new Constitution of Venezuela was imposed. The government's populist social welfare policies were bolstered by soaring oil prices, temporarily increasing social spending, and reducing economic inequality and poverty in the early years of the regime. However, poverty began to rapidly increase in the 2010s. The 2013 Venezuelan presidential election
264-429: A recession , and in 2015, had the world's highest inflation, surpassing 100%. In 2017, Donald Trump 's administration imposed more economic sanctions against PDVSA and Venezuelan officials. Economic problems, as well as crime, were the causes of the 2014–present Venezuelan protests . Since 2014, roughly 5.6 million people have fled Venezuela . In January 2016, Maduro decreed an "economic emergency", revealing
352-561: A 1999 constituent assembly to write a new Constitution. The Revolution refers to a left-wing populism social movement and political process led by Chávez, who founded the Fifth Republic Movement in 1997 and the United Socialist Party of Venezuela in 2007. The "Bolivarian Revolution" is named after Simón Bolívar . According to Chávez and other supporters, the "Bolivarian Revolution" sought to build
440-419: A clean slate and his political rights reinstated, allowing Chávez to win and maintain the presidency continuously from 1999 until his death in 2013. Chávez won the elections of 1998, 2000, 2006 and 2012 and the presidential referendum of 2004. A collapse in confidence in the existing parties led to Hugo Chávez being elected president in 1998 and the subsequent launch of a "Bolivarian Revolution", beginning with
528-410: A full sovereign country in 1830. During the 19th century, Venezuela suffered political turmoil and autocracy, remaining dominated by regional military dictators until the mid-20th century. From 1958, the country had a series of democratic governments, as an exception where most of the region was ruled by military dictatorships, and the period was characterized by economic prosperity. Economic shocks in
616-528: A genus of barklice in the family Caeciliusidae Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with the title Valenzuela . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=Valenzuela&oldid=1220460716 " Categories : Disambiguation pages Place name disambiguation pages Hidden categories: Short description
704-559: A glut of oil". However, The New York Times warned the next week that the word "glut" was misleading, and that temporary surpluses had brought down prices somewhat, but prices were still well above pre-energy crisis levels. This sentiment was echoed in November 1981, when the CEO of Exxon also characterized the glut as a temporary surplus, and that the word "glut" was an example of "our American penchant for exaggerated language". He wrote that
792-733: A glut on the world market. The result was a six-year decline in the price of oil, which reduced the price by half in 1986 alone. During the 1980s, reliance on Middle East production dwindled as commercial exploration developed major non-OPEC oilfields in Siberia, Alaska, the North Sea , and the Gulf of Mexico, and the Soviet Union became the world's largest producer of oil. Smaller non-OPEC producers including Brazil, Egypt, India, Malaysia, and Oman doubled their output between 1979 and 1985, to
880-677: A heavy dependence on agricultural exports. It prompted a boom that lasted into the 1980s; by 1935, Venezuela's per capita gross domestic product was Latin America's highest. Gómez benefited handsomely from this, as corruption thrived, but at the same time, the new source of income helped him centralize the state and develop its authority. Gómez remained the most powerful man in Venezuela until his death in 1935. The gomecista dictatorship (1935–1945) system largely continued under Eleazar López Contreras , but from 1941, under Isaías Medina Angarita ,
968-603: A large expeditionary force to come under general Pablo Morillo , with the goal to regain the lost territory in Venezuela and New Granada. As the war reached a stalemate on 1817, Bolívar reestablished the Third Republic of Venezuela on the territory still controlled by the patriots, mainly in the Guayana and Llanos regions. This republic was short-lived as only two years later, during the Congress of Angostura of 1819,
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#17327730899311056-462: A large quantity of fresh water being inside and in such close proximity to salt water; the very mild temperateness also corroborates this; and if the water of which I speak does not proceed from Paradise then it is an even greater marvel, because I do not believe such a large and deep river has ever been known to exist in this world. Spain's colonization of mainland Venezuela started in 1522, establishing its first permanent South American settlement in
1144-706: A longstanding dispute with Great Britain about the Essequibo territory, which Britain claimed as part of British Guiana and Venezuela saw as Venezuelan territory, erupted into the Venezuela Crisis of 1895 . The dispute became a diplomatic crisis when Venezuela's lobbyist, William L. Scruggs , sought to argue that British behavior over the issue violated the United States ' Monroe Doctrine of 1823, and used his influence in Washington, D.C., to pursue
1232-487: A major oil producer before the glut. The drop of oil prices contributed to the nation's final collapse . In the United States, domestic exploration and the number of active drilling rigs were cut dramatically. In late 1985, there were nearly 2,300 rigs drilling wells; a year later, there were barely 1,000. The number of U.S. petroleum producers decreased from 11,370 in 1985 to 5,231 in 1989, according to data from
1320-566: A mass movement to implement Bolivarianism — popular democracy , economic independence, equitable distribution of revenues, and an end to political corruption. They interpret Bolívar's ideas from a populist perspective, using socialist rhetoric. This led to formation of the Fifth Republic of Venezuela , commonly known as the Bolivarian Republic of Venezuela , that continues to the present day. Venezuela has been considered
1408-486: A mechanism of political innovation. Venezuela decentralized its political system and diversified its economy, reducing the size of the state. COPRE operated as an innovation mechanism, also by incorporating issues into the political agenda, that were excluded from public deliberation by the main actors of the democratic system. The most discussed topics were incorporated into the public agenda: decentralization, political participation, municipalization, judicial order reforms and
1496-464: A report documented enforced disappearances that occurred in 2018–19. 724 enforced disappearances of political detainees were reported. The report stated that security forces subjected victims to torture . The report stated the government used enforced disappearances to silence opponents and other critical voices. Maduro ran for a third consecutive term in the 2024 presidential election , while former diplomat Edmundo González Urrutia represented
1584-467: A result of demonstrations by poor Chávez supporters and actions by the military. Chávez remained in power after an all-out national strike that lasted from December 2002 to February 2003 , including a strike/lockout in the state oil company PDVSA . Capital flight before and during the strike led to the reimposition of currency controls . In the subsequent decade, the government was forced into currency devaluations. These devaluations did not improve
1672-416: A total of 3 million barrels per day. In April 1979, U.S. President Jimmy Carter signed an executive order to remove price controls from petroleum products by October 1981 so that prices would be wholly determined by the free market. Carter's successor, Ronald Reagan , signed an executive order on 28 January 1981, which enacted that reform immediately, allowing the free market to adjust oil prices in
1760-741: Is Venezuela . Martín Fernández de Enciso , a member of the Vespucci and Ojeda crew, gave a different account. In his work Summa de geografía , he states that the crew found Indigenous peoples who called themselves the Veneciuela. Thus, the name "Venezuela" may have evolved from the native word. Previously, the official name was Estado de Venezuela (1830–1856), República de Venezuela (1856–1864), Estados Unidos de Venezuela (1864–1953), and again República de Venezuela (1953–1999). Evidence exists of human habitation in
1848-565: Is among the most urbanized countries in Latin America; the vast majority of Venezuelans live in the cities of the north and in the capital. The territory of Venezuela was colonized by Spain in 1522 amid resistance from Indigenous peoples. In 1811, it became one of the first Spanish-American territories to declare independence from the Spanish and to form part of the first federal Republic of Colombia ( Gran Colombia ). It separated as
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#17327730899311936-483: Is different from Wikidata All article disambiguation pages All disambiguation pages Venezuela Venezuela , officially the Bolivarian Republic of Venezuela , is a country on the northern coast of South America , consisting of a continental landmass and many islands and islets in the Caribbean Sea . It comprises an area of 916,445 km (353,841 sq mi), and its population
2024-498: Is entirely located in the tropics over the Equator to around 12° N. Its climate varies from humid low-elevation plains, where average annual temperatures range as high as 35 °C (95.0 °F), to glaciers and highlands (the páramos ) with an average yearly temperature of 8 °C (46.4 °F). Annual rainfall varies from 430 mm (16.9 in) in the semiarid portions of the northwest to over 1,000 mm (39.4 in) in
2112-461: The 1947 Venezuelan presidential election (the first free and fair elections in Venezuela). Gallegos governed until overthrown by a military junta led by the triumvirate Luis Felipe Llovera Páez [ es ] , Marcos Pérez Jiménez , and Gallegos' Defense Minister, Carlos Delgado Chalbaud , in the 1948 Venezuelan coup d'état . The most powerful man in the military junta (1948–58)
2200-589: The 1968 election for COPEI, the first time a party other than Democratic Action took the presidency through a democratic election. The new democratic order had its antagonists. Betancourt suffered an attack planned by the Dominican dictator Rafael Trujillo in 1960, and the leftists excluded from the Pact initiated an insurgency by organizing themselves into the Armed Forces of National Liberation, sponsored by
2288-481: The 1980s and 1990s led to major political crises and widespread social unrest, including the deadly Caracazo riots of 1989, two attempted coups in 1992 , and the impeachment of a President for embezzlement of public funds charges in 1993. The collapse in confidence in the existing parties saw the 1998 Venezuelan presidential election , the catalyst for the Bolivarian Revolution , which began with
2376-702: The 2018 election with 68% of the vote. The result was challenged by Argentina, Chile, Colombia, Brazil, Canada, Germany, France and the US who deemed it fraudulent and recognized Juan Guaidó as president. Other countries continued to recognize Maduro, although China, facing financial pressure over its position, began hedging by decreasing loans, cancelling joint ventures, and signaling willingness to work with all parties. In August 2019, Trump imposed an economic embargo against Venezuela. In March 2020, Trump indicted Maduro and Venezuelan officials, on charges of drug trafficking, narcoterrorism , and corruption. In June 2020,
2464-537: The Chalk Group at Ekofisk , in Norwegian waters in the central North Sea. Discoveries increased exponentially in the 1970s and 1980s, and new fields were developed throughout the continental shelf. From 1980 to 1986, OPEC decreased oil production several times and nearly in half, in an attempt to maintain oil's high prices. However, it failed to hold on to its preeminent position, and by 1981, its production
2552-594: The Essequibo area and with Colombia concerning the Gulf of Venezuela . In 1895, after years of diplomatic attempts to solve the border dispute, the dispute over the Essequibo River border flared up. It was submitted to a "neutral" commission (composed of British, American, and Russian representatives and without a direct Venezuelan representative), which in 1899 decided mostly against Venezuela's claim. Venezuela
2640-717: The Indigenous inhabitants . Native caciques (leaders) such as Guaicaipuro ( c. 1530–1568 ) and Tamanaco (died 1573) attempted to resist Spanish incursions, but the newcomers ultimately subdued them. In the 16th century, during the Spanish colonization, indigenous peoples such as the Mariches , themselves descendants of the Kalina, were converted to Roman Catholicism . Some resisting tribes or leaders are commemorated in place names, including Caracas, Chacao and Los Teques . The early colonial settlements focused on
2728-631: The Maracaibo lowlands in the northwest, the northern mountains extending in a broad east–west arc from the Colombian border along the northern Caribbean coast, the wide plains in central Venezuela, and the Guiana Highlands in the southeast. The northern mountains are the extreme northeastern extensions of South America's Andes mountain range. Pico Bolívar , the nation's highest point at 4,979 m (16,335 ft), lies in this region. To
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2816-506: The Unitary Platform ( Spanish : Plataforma Unitaria Democrática ; PUD), the main opposition political alliance. Polls conducted before the election indicated that González would win by a wide margin. After the government-controlled National Electoral Council (CNE) announced partial results showing a narrow Maduro victory on 29 July, world leaders predominantly expressed skepticism of the claimed results and did not recognize
2904-698: The Venezuela Crisis of 1902–1903 , in which Britain, Germany and Italy imposed a naval blockade before international arbitration at the new Permanent Court of Arbitration was agreed. In 1908, another dispute broke out with the Netherlands, which was resolved when Castro left for medical treatment in Germany and was promptly overthrown by Juan Vicente Gómez (1908–35). The discovery of massive oil deposits in Lake Maracaibo during World War I proved pivotal for Venezuela and transformed its economy from
2992-548: The Venezuelan refugee crisis in which more than 7.7 million people had fled the country by June 2024. By 2017, Venezuela was declared to be in default regarding debt payments by credit rating agencies . The crisis in Venezuela has contributed to a rapidly deteriorating human rights situation. The 2024 presidential election were not recognized by the Carter Center and Organization of American States due to
3080-480: The aftermath of the announcement of results by the election authorities, protests broke out across the country . Venezuela is located in the north of South America; geologically, its mainland rests on the South American Plate . It has a total area of 916,445 km (353,841 sq mi) and a land area of 882,050 km (340,560 sq mi), making Venezuela the 33rd largest country in
3168-455: The arepa , a staple in Venezuelan cuisine . After the conquest, the population dropped markedly, mainly through the spread of infectious diseases from Europe. Two main north–south axes of pre-Columbian population were present, who cultivated maize in the west and manioc in the east. Large parts of the llanos were cultivated through a combination of slash and burn and permanent settled agriculture. In 1498, during his third voyage to
3256-599: The Americas, Christopher Columbus sailed near the Orinoco Delta and landed in the Gulf of Paria . Amazed by the great offshore current of freshwater which deflected his course eastward, Columbus expressed in a letter to Isabella and Ferdinand that he must have reached Heaven on Earth (terrestrial paradise): Great signs are these of the Terrestrial Paradise... for I have never read or heard of such
3344-476: The Bolivarian Republic following the adoption of the new Constitution of 1999 . Following Chávez's election, Venezuela developed into a dominant-party system , dominated by the United Socialist Party of Venezuela . In April 2002, Chávez was briefly ousted from power in the 2002 Venezuelan coup d'état attempt following popular demonstrations by his opponents, but Chavez returned after two days as
3432-496: The CNE claims with only some exceptions. Both González and Maduro proclaimed themselves winners of the election. The results of the election were not recognized by the Carter Center and Organization of American States due to the lack of granular results, and disputed by the opposition, which claimed a landslide victory and released access to vote tallies collected by poll watchers from a majority of polling centers as proof. In
3520-680: The Communist Party and Fidel Castro . In 1962 they tried to destabilize the military corps, with failed revolts. Betancourt promoted a foreign policy, the Betancourt Doctrine , in which he only recognized elected governments by popular vote. The 1973 Venezuelan presidential election of Carlos Andrés Pérez coincided with an oil crisis , in which Venezuela's income exploded as oil prices soared; oil industries were nationalized in 1976. This led to massive increases in public spending, but also increases in external debts, until
3608-525: The Granadian army; leading it, he liberated several countries and founded the Republic of Colombia ( Gran Colombia ). Sucre went on to liberate Ecuador and become the second president of Bolivia . Venezuela remained part of Gran Colombia until 1830, when a rebellion led by José Antonio Páez allowed the proclamation of a newly independent Venezuela, on 22 September; Páez became the first president of
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3696-550: The Orinoco Delta of the far east and the Amazonian Jungle in the south. The precipitation level is lower in the period from August through April. These periods are referred to as hot-humid and cold-dry seasons. Another characteristic of the climate is this variation throughout the country by the existence of a mountain range called "Cordillera de la Costa" which crosses the country from east to west. The majority of
3784-869: The Spanish conquest; it has been estimated at one million. In addition to Indigenous peoples known today, the population included groups such as the Kalina (Caribs), Auaké , Caquetio , Mariche , and Timoto–Cuicas . The Timoto–Cuica culture was the most complex society in Pre-Columbian Venezuela, with pre-planned permanent villages, surrounded by irrigated, terraced fields. Their houses were made of stone and wood with thatched roofs. They were peaceful and depended on growing crops. Regional crops included potatoes and ullucos . They left behind art, particularly anthropomorphic ceramics, but no major monuments. They spun vegetable fibers to weave into textiles and mats for housing. They are credited with having invented
3872-765: The United States and Japan, countries in Europe, and developing nations but represented a serious loss in revenue for oil-producing countries in Northern Europe , the Soviet Union , and OPEC . In 1981, before the brunt of the glut, Time Magazine wrote that in general, "A glut of crude causes tighter development budgets" in some oil-exporting nations. Mexico had an economic and debt crisis in 1982. The Venezuelan economy contracted and inflation levels (consumer price inflation) rose, remaining between 6 and 12% from 1982 to 1986. Even Saudi Arabian economic power
3960-492: The United States. That ended the withdrawal of old oil from the market and artificial scarcity, which encouraged an increase in oil production. Additionally, the Trans-Alaska Pipeline System began pumping oil in 1977. The Alaskan Prudhoe Bay Oil Field entered peak production, supplying 2 million bpd of crude oil in 1988, 25 percent of all U.S. oil production. Phillips Petroleum discovered oil in
4048-462: The Welsers the right to explore, rule and colonize the territory, as well as to seek the mythical golden town of El Dorado . The first expedition was led by Ambrosius Ehinger , who established Maracaibo in 1529. After the deaths of first Ehinger (1533), then Nikolaus Federmann , and Georg von Speyer (1540), Philipp von Hutten persisted in exploring the interior. In absence of von Hutten from
4136-481: The area now known as Venezuela from about 15,000 years ago. Tools have been found on the high riverine terraces of the Rio Pedregal in western Venezuela. Late Pleistocene hunting artifacts, including spear tips, have been found at a similar series of sites in northwestern Venezuela; according to radiocarbon dating , these date from 13,000 to 7,000 BC. It is unknown how many people lived in Venezuela before
4224-580: The bipartisanship governments, used the growing anger at economic austerity measures to justify a coup attempt in February 1992 ; a second coup d'état attempt occurred in November . President Carlos Andrés Pérez (re-elected in 1988) was impeached under embezzlement charges in 1993, leading to the interim presidency of Ramón José Velásquez (1993–1994). Coup leader Chávez was pardoned in March 1994 by president Rafael Caldera (1994–1999, his second term), with
4312-530: The capital of the province, the crown of Spain claimed the right to appoint a governor. On Hutten's return to the capital, Santa Ana de Coro , in 1546, the Spanish governor Juan de Carvajal had Hutten and Bartholomeus VI. Welser executed. Subsequently, Charles V revoked Welser's concession. The Welsers transported German miners to the colony, in addition to 4,000 African slaves to plant sugar cane plantations. Many German colonists died from tropical diseases, to which they had no immunity , or through wars with
4400-518: The collapse of oil prices during the 1980s crippled the economy. As the government started to devalue the currency in 1983 to face its financial obligations, standards of living fell dramatically. Failed economic policies and increasing corruption in government led to rising poverty and crime, worsening social indicators, and increased political instability. In the 1980s, the Presidential Commission for State Reform (COPRE) emerged as
4488-419: The early 18th century, and was then reorganized as an autonomous Captaincy General starting in 1777. Caracas, founded in the central coastal region in 1567, was well-placed to become a key location, being near the coastal port of La Guaira and in a valley, in a mountain range, providing defensive strength against pirates and a more fertile and healthy climate. After unsuccessful uprisings, Venezuela, under
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#17327730899314576-473: The early 1980s as a result of slowed economic activity in industrial countries due to the crises of the 1970s, especially in 1973 and 1979, and the energy conservation spurred by high fuel prices. The inflation-adjusted real 2004 dollar value of oil fell from an average of $ 78.2 in 1981 to an average of $ 26.8 per barrel in 1986. In June 1981, The New York Times proclaimed that an "oil glut" had arrived and Time stated that "the world temporarily floats in
4664-581: The exportation of oil, with crude accounting for 86% of exports, and a high price per barrel to support social programs. Beginning in 2014 the price of oil plummeted from over $ 100 to $ 40. This placed pressure on the economy, which was no longer able to afford vast social programs. The Government began taking more money from PDVSA , the state oil company, resulting in a lack of reinvestment in fields and employees. Production decreased from its height of nearly 3 to 1 million barrels (480 to 160 thousand cubic metres ) per day. In 2014, Venezuela entered
4752-455: The extent of the crisis and expanding his powers. In July 2016, Colombian border crossings were temporarily opened to allow Venezuelans to purchase food and basic health items. In September 2016, a study indicated 15% of Venezuelans were eating " food waste discarded by commercial establishments". 200 prison riots had occurred by October 2016. The Maduro-aligned Supreme Tribunal , which had been overturning National Assembly decisions since
4840-683: The extent to which other sources of supply would become profitable as prices increased. Electricity generation from coal , nuclear power and natural gas ; home heating from natural gas; and ethanol blended gasoline all reduced the demand for oil. New passenger car fuel economy in the United States rose from 14 miles per US gallon (17 L/100 km) in 1975 to more than 22 miles per US gallon (11 L/100 km) in 1982, an increase of more than 50 percent. The United States imported 28 percent of its oil in 1982 and 1983, down from 46.5 percent in 1977, due to lower consumption. The 1986 oil price collapse benefited oil-consuming countries such as
4928-552: The face of high output from elsewhere in OPEC. In 1985, daily output was around 3.5 million bpd, down from around 10 million in 1981. During this period, OPEC members were supposed to meet production quotas in order to maintain price stability; however, many countries inflated their reserves to achieve higher quotas, cheated, or outright refused to accord with the quotas. In 1985, the Saudis tired of this behavior and decided to punish
5016-495: The independentist forces, launched his Admirable Campaign in 1813 from New Granada , retaking most of the territory and being proclaimed as El Libertador ("The Liberator"). A Second Republic of Venezuela was proclaimed on 7 August 1813, but lasted only a few months before being crushed by royalist caudillo José Tomás Boves and his personal army of llaneros . The end of the French invasion of homeland Spain in 1814 allowed
5104-576: The lack of granular results, and disputed by the opposition, leading to protests across the country . According to the most popular and accepted version, in 1499, an expedition led by Alonso de Ojeda visited the Venezuelan coast. The stilt houses in the area of Lake Maracaibo reminded the Italian navigator, Amerigo Vespucci , of the city of Venice , Italy, so he named the region Veneziola , or "Little Venice". The Spanish version of Veneziola
5192-617: The largest and most important river system of the country; it originates in one of the largest watersheds in Latin America. The Caroní and the Apure are other major rivers. Venezuela borders Colombia to the west, Guyana to the east, and Brazil to the south. Caribbean islands such as Trinidad and Tobago , Grenada , Curaçao , Aruba , and the Leeward Antilles lie near the Venezuelan coast. Venezuela has territorial disputes with Guyana, formerly United Kingdom, largely concerning
5280-594: The leadership of Francisco de Miranda , a Venezuelan marshal who had fought in the American and French Revolutions , declared independence as the First Republic of Venezuela on 5 July 1811. This began the Venezuelan War of Independence . A devastating 1812 Caracas earthquake , together with the rebellion of the Venezuelan llaneros , helped bring down the republic. Simón Bolívar , new leader of
5368-471: The main cause of the glut was declining consumption. In the United States, Europe, and Japan, oil consumption had fallen 13% from 1979 to 1981, "in part, in reaction to the very large increases in oil prices by the Organization of Petroleum Exporting Countries and other oil exporters", continuing a trend begun during the 1973 price increases. After 1980, reduced demand and increased production produced
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#17327730899315456-790: The matter. Then, U.S. president Grover Cleveland adopted a broad interpretation of the doctrine that declared an American interest in any matter within the hemisphere. Britain ultimately accepted arbitration, but in negotiations over its terms was able to persuade the U.S. on many details. A tribunal convened in Paris in 1898 to decide the issue and in 1899 awarded the bulk of the disputed territory to British Guiana. In 1899, Cipriano Castro , assisted by his friend Juan Vicente Gómez , seized power in Caracas. Castro defaulted on Venezuela's considerable foreign debts and declined to pay compensation to foreigners caught up in Venezuela's civil wars . This led to
5544-554: The new State of Venezuela . Between one-quarter and one-third of Venezuela's population was lost during these two decades of war (including about half the Venezuelans of European descent ), which by 1830, was estimated at 800,000. In the Flag of Venezuela , the yellow stands for land wealth, the blue for the sea that separates Venezuela from Spain, and the red for the blood shed by the heroes of independence. Slavery in Venezuela
5632-640: The northern coast, but in the mid-18th century, the Spanish pushed farther inland along the Orinoco River . Here, the Ye'kuana organized resistance in 1775–76. Spain's eastern Venezuelan settlements were incorporated into New Andalusia Province . Administered by the Royal Audiencia of Santo Domingo from the early 16th century, most of Venezuela became part of the Viceroyalty of New Granada in
5720-546: The notable exception of the Communist Party of Venezuela ), signed the Puntofijo Pact power-sharing agreement. AD and COPEI dominated the political landscape for four decades. During the presidencies of Rómulo Betancourt (1959–64, his second term) and Raúl Leoni (1964–69), substantial guerilla movements occurred. Most laid down their arms under Rafael Caldera 's first presidency (1969–74). Caldera had won
5808-525: The opposition took control, took over the functions of the assembly, creating the 2017 Venezuelan constitutional crisis . In August 2017, the 2017 Constituent National Assembly was elected and stripped the National Assembly of its powers. The election raised concerns of an emerging dictatorship. In December 2017, Maduro declared opposition parties barred from the following year's presidential vote after they boycotted mayoral polls. Maduro won
5896-438: The politics: the authoritarian regime of Chadli Bendjedid had to compromise with Islamic opposition in 1984 and start economic reforms dismantling socialism in 1987. After the 1988 October Riots he reformed the constitution twice, liberalized the political space amid growing discontent, and was ousted from office by the military after his party lost the first multi-party elections to Islamists. The Soviet Union had become
5984-431: The poor. Poverty began to increase into the 2010s. Nicolás Maduro was picked by Chavez as his successor, appointing him vice president in 2013. Maduro has been president of Venezuela since 14 April 2013, when he won the presidential election after Chavez' death, with 51% of the vote, against Henrique Capriles on 49%. The Democratic Unity Roundtable contested Maduro's election as fraud, but an audit of 56% of
6072-476: The poorest. Hugo Chávez's socioeconomic policies of relying on oil sales and importing goods resulted in large amounts of debt, no change to corruption in Venezuela and culminated into a crisis in Venezuela . As a result, the Venezuelan refugee crisis , the largest emigration of people in Latin America's history, occurred, with over 7 million – about 20% of the country's population – emigrating. Chávez initiated Bolivarian missions , programs aimed at helping
6160-423: The population lives in these mountains. 1980s oil glut The 1980s oil glut was a significant surplus of crude oil caused by falling demand following the 1970s energy crisis . The world price of oil had peaked in 1980 at over US$ 35 per barrel (equivalent to $ 129 per barrel in 2023 dollars, when adjusted for inflation); it fell in 1986 from $ 27 to below $ 10 ($ 75 to $ 28 in 2023 dollars). The glut began in
6248-643: The present-day city of Cumaná . In the 16th century, the king of Spain granted a concession to the German Welser family . Klein-Venedig became the most extensive initiative in the German colonization of the Americas from 1528 to 1546. The Welsers were bankers to the Habsburgs and financiers of Charles V , Holy Roman Emperor , who was King of Spain and had borrowed heavily from them to pay bribes for his Imperial election . In 1528, Charles V granted
6336-513: The role of the state in a new economic strategy. The social reality made the changes difficult to apply. Economic crises in the 1980s and 1990s led to a political crisis. Hundreds of people were killed by security forces and the military in the Caracazo riots of 1989, during the second presidential term of Carlos Andrés Pérez (1989–1993) and after the implementation of economic austerity measures. Hugo Chávez , who in 1982 had promised to depose
6424-430: The situation of the people who rely on imported products or locally produced products that depend on imported inputs, while dollar-denominated oil sales account for the majority of exports. The profits of the oil industry have been lost to "social engineering" and corruption, instead of investments needed to maintain oil production. Chávez survived further political tests, including an August 2004 recall referendum . He
6512-547: The south, the dissected Guiana Highlands contain the northern fringes of the Amazon Basin and Angel Falls , the world's highest waterfall, as well as tepuis , large table-like mountains. The country's center is characterized by the llanos , which are extensive plains that stretch from the Colombian border in the far west to the Orinoco River delta in the east. The Orinoco, with its rich alluvial soils , binds
6600-441: The undisciplined OPEC countries. The Saudis abandoned their role as swing producer and began producing at full capacity, creating a "huge surplus that angered many of their colleagues in OPEC". High-cost oil production facilities became less or even not profitable. Oil prices as a result fell to as low as $ 7 per barrel. OPEC had relied on the price inelasticity of demand of oil to maintain high consumption, but underestimated
6688-456: The union of Venezuela with New Granada was decreed to form the Republic of Colombia. The war continued until full victory and sovereignty was attained after the Battle of Carabobo on 24 June 1821. On 24 July 1823, José Prudencio Padilla and Rafael Urdaneta helped seal Venezuelan independence with their victory in the Battle of Lake Maracaibo . New Granada's congress gave Bolívar control of
6776-511: The unrest between Chavistas and opposition protesters and opposition leaders, including Leopoldo López and Antonio Ledezma were arrested. Human rights groups condemned the arrest of López. In the 2015 Venezuelan parliamentary election , the opposition gained a majority. Venezuela devalued its currency in February 2013 due to rising shortages, which included milk and other necessities. This led to an increase in malnutrition, especially among children. The economy had become dependent on
6864-529: The vote showed no discrepancies, and the Supreme Court of Venezuela ruled Maduro was the legitimate president. Opposition leaders and some international media consider Maduro's government a dictatorship. Since February 2014, hundreds of thousands have protested over high levels of criminal violence, corruption, hyperinflation, and chronic scarcity of basic goods due to government policies. Demonstrations and riots have resulted in over 40 fatalities in
6952-472: The world . The territory it controls lies between latitudes 0° and 16°N and longitudes 59° and 74°W . Shaped roughly like a triangle, the country has a 2,800 km (1,700 mi) coastline in the north, which includes numerous islands in the Caribbean and the northeast borders the northern Atlantic Ocean. Most observers describe Venezuela in terms of four fairly well defined topographical regions:
7040-627: The world's largest known oil reserves and has been one of the world's leading exporters of oil . Previously, the country was an underdeveloped exporter of agricultural commodities such as coffee and cocoa, but oil quickly came to dominate exports and government revenues. The excesses and poor policies of the incumbent government led to the collapse of Venezuela's entire economy. The country struggles with record hyperinflation , shortages of basic goods , unemployment, poverty, disease, high child mortality, malnutrition , environmental issues , severe crime and corruption. These factors have precipitated
7128-458: Was Pérez Jiménez and he was suspected of being behind the death of Chalbaud, who died in a bungled kidnapping in 1950. When the junta unexpectedly lost the 1952 presidential election , it ignored the results and Jiménez was installed as president Jiménez was forced out on 23 January 1958. In an effort to consolidate a young democracy, the three major political parties ( Acción Democrática (AD), COPEI and Unión Republicana Democrática (URD), with
7216-600: Was abolished in 1854. Much of Venezuela's 19th-century history was characterized by political turmoil and dictatorial rule, including the Independence leader José Antonio Páez, who gained the presidency three times and served 11 years between 1830 and 1863. This culminated in the Federal War (1859–63). In the latter half of the century, Antonio Guzmán Blanco , another caudillo , served 13 years, between 1870 and 1887, with three other presidents interspersed. In 1895,
7304-663: Was elected for another term in December 2006 and for a third term in October 2012. However, he was never sworn in due to medical complications; he died in March 2013. The presidential election that took place in April 2013, was the first since Chávez took office in 1999 in which his name did not appear on the ballot. Under the Bolivarian government, Venezuela went from being one of the richest countries in Latin America to one of
7392-620: Was estimated at 29 million in 2022. The capital and largest urban agglomeration is the city of Caracas . The continental territory is bordered on the north by the Caribbean Sea and the Atlantic Ocean , on the west by Colombia , Brazil on the south, Trinidad and Tobago to the north-east and on the east by Guyana . Venezuela is a presidential republic consisting of 23 states , the Capital District and federal dependencies covering Venezuela's offshore islands. Venezuela
7480-526: Was relaxed. Angarita granted a range of reforms, including the legalization of all political parties. After World War II, immigration from Southern Europe and poorer Latin American countries markedly diversified Venezuelan society. In 1945, a civilian-military coup overthrew Medina Angarita and ushered in a period of democratic rule (1945–1948) under the mass membership party Democratic Action , initially under Rómulo Betancourt , until Rómulo Gallegos won
7568-515: Was significantly weakened. Iraq had fought a long and costly war against Iran and had particularly weak revenues. It was upset by Kuwait contributing to the glut and allegedly pumping oil from the Rumaila field below their common border. Iraq invaded Kuwait in 1990 , planning to increase reserves and revenues and cancel the debt, resulting in the first Gulf War . The glut directed Algeria into an economic recession and directly influenced
7656-674: Was surpassed by non-OPEC countries. OPEC had seen its share of the world market drop to less than a third in 1985, from about half during the 1970s. In February 1982, the Boston Globe reported that OPEC's production, which had previously peaked in 1977, was at its lowest level since 1969. Non-OPEC nations were at that time supplying most of the West's imports. OPEC's membership began to have divided opinions over what actions to take. In September 1985, Saudi Arabia became unhappy with de facto propping up prices by lowering its own production in
7744-400: Was widely disputed leading to widespread protest , which triggered another nationwide crisis that continues to this day. Venezuela has experienced democratic backsliding , shifting into an authoritarian state . It ranks low in international measurements of freedom of the press and civil liberties and has high levels of perceived corruption . Venezuela is a developing country having
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