If Chavez links up with the Iranian mullahs (who are friends of his), then he really may be able to attempt some mischief if we go after Iran.
Supposedly he wants to get a bomb so that Latin America can defend itself against the evil Yankees; and he has the money and Iran has the expertise to get one.
And Venezuela would be a nice base for either Iran or N. Korea to threaten to hit the US from.
Iran's missiles, which can reach Europe from Iran, could reach the USA from Venezuela.
And Venezeula is not an island, so a "Cuban Missile Crisis" style blockade would be problematic.