An abrupt fall in oil revenues is forcing Hugo Chávez, Venezuelan president, to rein in boom-time economic policies, posing severe risks for his "revolution", which was sustained by heavy public spending
Mr Chávez used a surge in oil prices, which peaked in July 2008, to finance huge social programmes at home. Venturing abroad, he also offered plans to fund heating oil for poor residents of the Bronx and cheap bus fares for the elderly in London.
