Venezuelan Oil and Economy

By Rxbell
  • Chavez Was Elected

    Chavez Was Elected
    He founded a political party known as, the Fifth Republic Movement, and was then elected President.
  • Maduro Gets Designated

    Maduro Gets Designated
    Chavez designated vice president Nicolas Maduro as his successor if he was to not survive his fourth cancer surgery.
  • The Death of the President

    The Death of the President
    Hugo Chavez died due to a long battle with cancer.
  • Maduro Becomes President

    Maduro Becomes President
    Maduro beats his rival, Henrique Capriles in the election to be President for the rest of Chavez's term
  • Maduro Expells Three US Diplomats

    Maduro Expells Three US Diplomats
    Maduro expells three US diplomats claiming that they were involved with a power outage that happened earlier that month.
  • Protests Are Started

    Protests Are Started
    Student protest grab global attention when three of the protesters are killed, the protests are fueled by social and economic problems.
  • CNN Gets Pushed Away

    CNN Gets Pushed Away
    Venezuela revokes press credentials for CNN journalists, Maduro announces that he would expel CNN if they didn't rectify its covers of anti-government protests calling it war propaganda.
  • Economic Emergency

    Economic Emergency
    Maduro announces a state of economic emergency.
  • Now There's a Constitutional Emergency

    Now There's a Constitutional Emergency
    Maduro declares a constitutional state of emergency which builds on the economic emergency from January.
  • Venezuela is Running Out of Money

    Venezuela is Running Out of Money
    In 2011, Venezuela had around $30 billion now in 2017 they have roughly around $9.9 billion.
  • People Are Starving

    People Are Starving
    A national poll was taken in Venezuela revealing that the citizens have lost an average of 19 pounds in body weight. Shelves are empty and people are scavenging.
  • A Decline in Oil

    A Decline in Oil
    Oil is a leading export for Venezuela, they highly depend on the money that they bring in for selling it globally, but oil prices has dropped. A barrel of oil used to cost $100 now it is about $50, meaning Venezuela's income was cut in half.
  • A Crisis

    A Crisis
    The US Treasury Department says that the National Constituent Assembly "aspires to usurp the constitutional role of the democratically elected National Assembly, rewrite the constitution, and impose an authoritarian regime on the people of Venezuela".