As protests have taken over Venezuela the past few weeks, tensions between the US and Caracas have been on the rise. Statements from US and Venezuelan officials paint the picture.
Venezuela's oil is too big for major energy companies to ignore and too risky to plunge into. Eventually, post-Chávez Venezuela will choose pragmatism over idealism.
Guest blogger Miguel Octavio argues that by capping car prices, Venezuela is choking the domestic automotive market, despite the country's cheap gas and high demand for cars.
Venezuela recalled its ambassador after the outgoing Colombian government charged that its neighbor harbors FARC rebels. The charges could short-circuit a potential thaw in ties as president-elect Santos prepares to take office.
Venezuelan leader Hugo Chávez threatened to shut down trade if Colombian presidential candidate Juan Manuel Santos wins the May 30 Colombia elections.
Chávez has announced his support for the Iranian president's claim of election victory. The two leaders have developed close ties based on mutual animosity to the US.
Manuel Rosales, who ran against Chávez in 2006, is seeking asylum in Peru.