NEW Venezuelan President Hugo Chavez's inauguration speech stirred hope among millions of his countrymen that the nation's oil riches could at last be used to raise living standards for the many rather than the few. In oil boardrooms around the world there was also a quiet sense of relief as this supposed demagogue, an ex-army paratrooper who was sworn in almost seven years to the day after leading a failed coup, issued a cautious welcome to foreign investors.