So far protests over security and economic dissatisfaction have been largely contained to middle class areas and have not erupted amid oil industry unions, according to Karen Hooper, Latin America analysis director for Stratfor.

"It is the decline in energy sector, the scarcity of foreign exchange,and scarcity of basic goods that we really think will be the tipping point forVenezuela," Hooper said on a conference call put on by Tudor Pickering Holt.

"It’s