The Core

Just over two decades ago, Venezuela’s Bolivarian Revolution commenced when Hugo Chavez won the 1998 presidential elections and was formally sworn into office in February 1999. He immediately introduced a new constitution focused on establishing a state-run economy, land reform, the redistribution of wealth and using the country’s vast oil wealth to fund extensive social programs. When Chavez took power Venezuela, which has the world’s largest oil reserves totaling 298 billion barrels, was one of the most prosperous countries in Latin America.


https://beta.finance.yahoo.com/news/venezuela-faces-real-possibility-oil-200000990.html