| Christopher Columbus has the credit of exploring | | | | After few years, by the 1920s, Venezuela began to |
| Venezuela for the first time. In 1498, he touched the | | | | enjoy the benefits of its own natural resource. |
| land of Peninsula de Paria. He discovered Rio Orinoco | | | | Romulo Betancourt, the first president of Venezuela, |
| delta just by following the coast line. However, the | | | | made some required corrections to the country's |
| country was named a year later by Alonso de Ojeda. | | | | constitution. The ruling class was rolling in money. This |
| "Little Venice" was the expressive name given due the | | | | was giving rise to an unequal distribution of money, |
| stilted houses developed over the lakes and reminded | | | | which continued till 1947. |
| Ojeda of Venice. Hence, the name Venezuela. | | | | Next few years were quite normal. In the mid 1970s, |
| After one year, Spanish established their first | | | | an oil boom created a flow of money. In the 1980s, |
| settlement, Nueva Cadiz. At that time, colonization of | | | | when prices of the oil came down, the country once |
| Venezuela was loosely ruled by Bogota. The Spanish | | | | again came near to the critical deadlines. On top of |
| concentrated in the western parts of South America | | | | that, Caracas faced riots, which with corruptions, made |
| because the region was rich in natural mineral | | | | the nation restless. |
| resources. But the fact that Venezuela owns massive | | | | After all these incidents, Venezuela still has its own |
| oil reserves was in the shadow. This amazed the | | | | charm and liveliness. The nation is facing these random |
| world, when oil discovered. Early 1900s was the time | | | | changes as a challenge and making an outstanding |
| when the ultimate "discovery" stood on its own feet. | | | | mark in front of rest of the world. |