This theat is hollow. The relevant word is "fungible". If he sells to anyone, it is the same as selling to us.
The problem is not oil, the problem is what he does with his oil income. He is funding trouble in Peru, Ecuador, Colombia, Nicaragua, Bolivia. His message is seductive, rooted as it is in nationalist populism, or maybe populist nationalism.
Marxism we can out-argue, but wrap it in populist nationalism and you have an intoxicating mixture that we can't refute. We can only go on the offensive (A), or outlast it(B). Since Chavez and his young officers aren't going anywhere anytime soon, we may have to help them along. That means choice "A".
I think we should be "loaning" Columbia some
AC-130s for border duty with Venezuela. Along with some newly-retired C-141s that are capable of dropping MOAB/Daisy cutters for helping to remove some vegetation along that border.
The FARC would be on their knees in a week.