Investor-State Relations in the Chavez Age

The Nature of Resource Nationalism in the 21st Century

This article examines the legal and political aspects of resource nationalism as it relates to Venezuela's energy sector. The Chavez administration implemented several legal and policy initiatives that significantly changed the face of Venezuela's energy sector. The actions of the Chavez administration have raised questions about the nature of resource nationalism in the twenty first century and whether Chavez's actions are unique for modern oil and gas producing countries or rather should be viewed in the context of structural changes impacting the energy industry.