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Oil is everything
Venezuela is the worlds largest exporter of oil during this time. 90-95% of Venezuela's economy is oil making it risky if prices drop. -
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Venezuela
President Romulo Gallegoscame into power, making him Venezuela's first democratically elected leader -
First Democratic Leader Elected
President Romulo Gallegos comes into power, making him Venezuela's first democratically elected leader. This is a major first step in goverment for the people and their involment in their political system. -
President Romulo Gallegos is overthrown
President Romulo Gallegos is overthrown Marcos Perez Jimenez, a military dictator. Venezeula returns to a military rule once again. -
New Democratic leader
Admiral Wolfgang Larrazabal takes over and outs Marcos Perez Jimenez from power. Now, once again the power changes over to a democratic politician and is much wanted according to polls. -
Organized Democratic elections are now being held.
Democratic Action (AD) and the Christian Democrats (Copei) began switching up power and then decided on a 'power-sharing' agreement named "Pacto de Punto Fijo. -
Venezuela Constituition revised and created
A Constitution containing 252 articles was passed. On one them includes the ability to sell your property. Slowly, the Venezuela goverment is changing its ways in to fit the peoples needs without causing probelms. -
Venezuelas economy is at a high-point
Thanks to Venezuela's high interest in oil, Venezuela's economy is booming. Oil prices are in favor of Venezuela and the goverment is putting more and more money into it as well as new ways to make money (mining, etc.) -
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Going backwards
Venezuela's goverment begins to gain more and more control over the countries assests, now going back to a more socialist political view. -
Disaster Stikes
On this date, the Tacoa Power Plant caught fire, and in terms of lost of life, this was the worst accident in history. 300 people were injuried and/or burned and around 150 people died. -
Riots in Caracas
Due to severe economic problems, the people of Venezuela rioted throughout the country, even the capital. This led to deaths ranging from 500-3,000. Mostly that were from goverment forces. -
Foreign Invests are allowed
In January, Venezuela allowed once again to take in foreign private investments. -
United States and Venezuela negotitates
The United States and Venezuela goverment agree to allow each other permission to search for drugs on their countries ship if it was suspected of illegal activity. -
Hugo Chavez becomes president
Hugo Chavaz comes to power. He finally comes to power after many unsuccsesful Coup De Etats. -
New Constituion Approved
A new constituion that was wanted by 72% of Venezuelans was approved. Some significant changes is that it has the goverment play a bigger role in the economy and society. -
Goverment has TV and Radio by its side
Starting at this date, the goverment has the power to gain some control over the content that goes out from the TV and Radio. Its around now Hugo Chavez becomes more of a socialist and brings up his new plan, called "21st Century Socialism."
