Viva Che!

While Che Guevara has been a force in T-shirt sales and leftist fantasies for over a generation now, the movement he championed steadily withered on the vine. Communism was left a mess when the Soviet Union lost the Cold War in 1991, and all its former satellites either turned to democracy, a hybrid Capitalist/Communist system, or they were stuck in the 1950s a la Cuba.
Then Hugo Chavez took over in Venezuela. Suddenly a Communist - an outright admirer of Castro - was in charge of one of the largest oil producing countries in the world. Chavez eliminated his political opposition, rewrote the constitution, began nationalizing the energy industries in his country by making a series of offers you can't refuse. The Chavez line is "give x% of your joint venture to PdVSA (the state owned oil/gas company) or we'll take the whole thing." Of course, most companies don't refuse that offer because they don't want to lose it all. ExxonMobil is the only company to not cave to that demand, but chances are they will at some point. Slowly but surely these companies are being extorted out of mineral rights they purchased fair and square from Venezuela.
With Venezuela firmly in his control, Chavez turned his attention to the country Che died in in the 60s, Bolivia. Chavez helped Evo Morales get elected, and Morales has been quick to turn his country into a Venezuelaesque utopia. He's subverted the rule of law and is currently bending their Congress to his will. Just today he added renationalization of energy resources to his ever expanding portfolio. Unfortunately because we didn't back the coup in the early 2000s and because Jimmy Carter certified an unfair election as fair, Chavez will be in power for quite some time to come, and Morales will soon follow. We've got a long road ahead in South America and I wouldn't be surprised to see a small-scale regional war flare up, maybe between Brazil and Bolivia over this issue, in part because of the importance those natural gas contracts have for Brazil.