5th grade SS Venezuela oil powers the economy
What was his presidential platform?
He promised to help the poor. This caused many political problems between the rich and the poor.
How did Chavez try to help the poor people of Venezuela?
He used money from the oil industry to provide health care, clean water, low cost food, schools, reading programs, electricity and basic services to the poor people of Venezuela
What happened to Chavez in April 2002?
He was forced out of office for two days during a failed coup attempt. An organized group of people tried to throw him out so they could have the power.
Who was elected president in 1998?
Hugo Chavez
What did Venezuela do to jump start its economy in the late 1980's and 1990's?
It began to privatize many government-owned businesses.
What are some recent signs that Venezuela's economy is improving?
The people living in poverty has declined. Unemployment has decreased and a spike in oil prices has helped.
What made the oil economic crisis worse?
Venezuela was hit by major floods and landslides. Many people were killed and left homeless. Because of the massive destruction in Caracas it took many years for reconstruction.
What caused problems for Venezuela's economy and for ordinary people?
a decrease in oil prices
boom
a period of business growth and prosperity
Caracas
capital of Venezuela
Why did the drop in oil prices affect Venezuela so much?
during the booming oil business many people moved from the country to the cities
Why did many people lose their jobs in the 1980's and 1990;s?
more oil was produced than could be used, the price of oil fell
What made Venezuala a rich country?
oil production
privatization
the government's sale of land or industries it owns to private businesses or individuals
coup
the overthrow of a ruler or government by an organized group, which then takes power
How did the government of Venezuela react to the oil boom?
they owned companies that produced oil. They grew rich. The government built roads, subways and hired people to run government agencies.
What caused Venezuela's oil industry to decline in the mid 1980's?
world oil prices fell
