The Venezuelan presidential election takes place today and the result could paint a picture of how Latin America will transform.
The main two candidates running, incumbent Hugo Chavez and opponent Henrique Capriles Radonski, both have opposing views when it comes to gas and oil structures and views on the US.
The 2012 election is Chavez's third time running for president, but fourth facing the public vote due to a recall vote in 2004.
According to The Associated Press: Capriles, representing the Justice First Party, "would likely reopen the spigot to non-state foreign investment by halting expropriations of private companies. OPEC says Venezuela has the world's largest proven oil reserves, and Capriles says he would manage the oil industry differently. He says the state-owned oil company PDVSA, which critics allege has become an inefficient patronage machine, would remain under government control but be better managed."
The Guardian, meanwhile, if Chavez, representing the United Socialist Party of Venezuela, wins, "he has promised to ramp up production and reduce his country's dependence on the US market by doubling crude exports to Asia. To further this goal, Venezuela plans to build a pipeline through Colombia to the Pacific which would reduce costs and transport times to China and other Asian markets."
Venezuelan broadcaster Globovision is providing live streaming throughout Sunday (see below).
If the video above doesn't display, click here.
As an alternative, click here for coverage from Telesur TV.
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