Venezuelan War of Independence
The establishment of the Supreme Caracas Junta following the forced deposition of Vicente Emparan as Captain General of the Captaincy General of Venezuela on April 19, 1810, marked the beginnings of the war. On July 5, 1811, seven of the ten provinces of the Captaincy General of Venezuela declared their independence in the Venezuelan Declaration of Independence. The First Republic of Venezuela was lost in 1812 following the 1812 Caracas earthquake and the Battle of La Victoria (1812). Simón Bolívar led an "Admirable Campaign" to retake Venezuela, establishing the Second Republic of Venezuela in 1813; but this too did not last, falling to a combination of a local uprising and Spanish royalist reconquest. Only as part of Bolívar's campaign to liberate New Granada in 1819-20 did Venezuela achieve a lasting independence from Spain (initially as part of Gran Colombia).
Republic of Venezuela
Carlos Andrés Pérez took office in 1974, amid an oil crisis that had begun the previous year and had increased the global price of oil from $3 per barrel to nearly $12 per barrel. Venezuela nationalised its iron industry in 1975 and its oil industry the following year.