Is Hugo Chavez a Threat?

The Venezuelan president’s hatred for Washington—especially U.S. President George W. Bush—is daily news. But what does it matter?

President Hugo Chavez of Venezuela certainly does hate the U.S.—especially its president. A typical pronouncement: “The imperialist, genocidal, fascist attitude of the U.S. president has no limits. I think Hitler would be like a suckling baby next to George W. Bush.”

Despite Chavez’s public hatred for the U.S., despite his claim that President Bush is about to invade Venezuela, despite his threats to stop exporting oil to the United States, some analysts claim the Venezuela situation isn’t really a problem at all. As long as Venezuelan oil continues to pump, they reason, the United States has everything it needs from Caracas. In turn, Venezuela needs U.S. dollars for its oil, a situation it cannot change. As long as that status quo remains—or so the logic goes—Washington is happy to ignore the anti-U.S. raving of Hugo Chavez.

The analysis is right—but also very wrong.

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