Venezuelan President Survives ReferendumSan Francisco Bay Area 16 Aug 2004 20:29 GMT
8/16: On August 15th, 2004, a referendum was held in Venezuela to decide if Hugo Chavez should remain President of that country. At 4:03 this morning, it was announced that 58.2% of the voters had said that Chavez will stay in power. The victory has so far been rejected by the opposition. Meanwhile, oil prices reached a record high today amid concerns about production disruptions in Venezuela during the referendum.