BY DARCY CROWE

CARACAS”Venezuela has fallen under the spell of an unusual economic indicator: the water level at the country’s largest hydroelectric plant. For many in this drought-stricken country, the Guri dam’s level has become the best gauge of prospects for both the economy and the political strength of President Hugo Chávez.

Despite its rich petroleum reserves, Venezuela depends on the Guri hydroelectric plant for two-thirds of its power supply. If the water level at the dam, drops too low, swaths of the country could be left without electricity.

Even operating at current levels, Guri doesn’t produce enough electricity to meet demand. Thanks …