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Consequences of the rise of the oil price in Venezuela since 1999

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  1. Introduction
  2. Dior and its communication strategy
    1. Home Perfume Christian Dior
    2. Dior, the seamless communication
  3. J'adore - Dior - the absolute woman
    1. The world of perfume
    2. The name of the perfume
    3. Love
    4. The bottle
    5. Competitors at the time
    6. Campaigns
  4. Analysis of the advertising campaign of 2006
    1. The story of the woman I love in 2006
    2. The marketing brief

Venezuela is a major oil-producing country. It has the largest crude reserves in Latin America. Since 1999 and the election of Hugo Chavez as President of the Republic, Venezuela has reversed the trend of past decades. The political and economic programs have taken different directions. Currently, oil prices are rising at an international level, giving an important geopolitical weight in Venezuela due to its significant reserves. The establishment of the Bolivarian Revolution, oriented toward socialism, is not consistent with contemporary liberal and capitalist tendencies. This is a contradiction, and Venezuela enforces socialist policies, but it is integrated into the economy, since it exported its oil production. Moreover, Venezuela wants to position itself as an engine of the Latin American economy. Venezuela is an inescapable geopolitical actor, both regionally and globally. At the regional level, Venezuela is working with many Latin American countries in economic matters. At the global level, President Chavez is opposed to "American imperialism", and tries to be the "leader" of the OPEC (Organization of Petroleum Exporting Countries). This subject addresses two contemporary issues, rising oil prices at international level and the implementation of a socialist system in the 21st century. To analyze Venezuela in its national context, we must take into account the political, economic and social programs. International issues concern the traditional "oil diplomacy" and does not interfere in this analysis, nor are issues of regional integration. We will study the impact of rising oil prices combined with the coming to power of Hugo Chavez in 1999. What were the political, economic and social changes in Venezuela since then? Analyses of Venezuela are generally divergent, while some give credit to government policies, others disagree. This analysis considers the different viewpoints in order to obtain a result as objective as possible. It is therefore important to examine the policies implemented by the current Socialist government and report on their implications for economic and social conditions of rising national income from the continuing growth of oil prices on international markets. Since the coming of power, Venezuelan authorities have nationalized major sectors of the economy, and offer to partner with foreign firms through joint institutions with the national company that dominates the domestic market as the majority shareholder.

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