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Unformatted text preview: ercome. Venezuela is plagued with doubledigit inflation, mounting budget deficits and rising levels of violence. While the OPEC nation maintains one of the world's largest geological oil reserves, crude exports—which account for roughly 45 percent of federal budget revenues—have declined by nearly half since 1999. The United States imports roughly one million barrels from Venezuela per day. ¶ Chavez's protégé Nicolas Maduro, the former vice president who's now acting as Venezuela's interim president, is running to succeed the late strongman, but it's not preordained that he'll win. It remains to be seen the extent to which he can properly unite prior to the election the many competing populist factions that benefited under Chavez for so many years. What is clear is that he will drape himself in the political ideology of chavismo in the run up to April 14 elections, and use—and quite possibly abuse—government institutions and petrodollars in attempt to woo the country's voters.¶ What's perverse is how the Ob...
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This note was uploaded on 10/27/2013 for the course DEBATE 101 taught by Professor None during the Summer '12 term at University of California, Berkeley.
- Summer '12