Oil Collapse To Impact Political Scene…

With the possibility of further declines in oil prices increasing, we highlight the potential impact that a sharp reduction in petro-dollars would have on the Venezuelan political scene. In the short term, we would expect to see a rise in social unrest and a decline in President Hugo Chávez' popularity as social spending would need to be cut. In the longer term, while it would provide a golden opportunity for the dormant opposition parties to mount a challenge to Chávez, it may also lead to the president tightening his already-unyielding grip on the country.

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