Chavez Declares Electrical Emergency

President Hugo Chavez inaugurated a folksy new radio talk-show on Monday by declaring an "electricity emergency" in oil-rich Venezuela.

Despite its huge crude reserves, the South American OPEC member relies on hydro-electricity for 70 percent of its power needs, and a drought has hit supply since late 2009.

"We are ready to decree the electricity emergency, because it really is an emergency," Chavez said in the first edition of a show on state radio air waves called "Suddenly Chavez."

With electricity cuts weighing on Chavez's popularity ahead of important legislative elections in September, the government blames the shortages on the drought and soaring demand during five years of economic growth until 2008.

But critics say poor management and under-investment have undermined the power grid and exposed the failings of Chavez's "21st century socialism" policies during his 11-year rule.