I expect the anti-american leftist media/press to lick it's boots.
I expect all the classic follies, including nationalization of oil company assets and expropriation of ALL profits. After that, the decline, increasing anti-U.S. hysteria, nationalization of the banks, widespread unemployment, inflation...
Chevez makes the same mistake other Third World oil producers make: their oil is no good to them unless they can sell it to the West.
In an economic war I believe the U. S. could win out over Chevez. CITCO is Venesuzla's retail outlet in the U.S.