After Chavez, what's next for Venezuela?

Constitution calls for elections in 30 days

Published On: Mar 05 2013 05:28:27 PM EST   Updated On: Mar 05 2013 05:41:45 PM EST

Now that longtime Venezuelan President Hugo Chavez has died, the question now becomes what's next and who will now lead the country?

For the time being, Vice President Nicolas Madura, who announced Chavez' death on Tuesday, will assume control; but according to the Venezuelan constitution, an election will most likely be held within 30 days.

Going by that timeline, an election would have to take place by April 4.

The election would most likely pit Maduro against the popular opposition leader Henrique Capriles. According to Reuters, Venezuela's constitution was approved by Chavez' government in 2009 and the 30 day election order was written so as to not give opposition the chance to mobilize.

The uncertainty over succession could drive gas prices up as Venezuela exports for 930,000 barrels of oil to the U.S.