Chavez has intentionally pushed a policy of lower oil supplies to inflate the price and hurt the U.S. Of course, this is a lose-lose situation, as oil makes up 60% of Venezuela's economy.
Could also be that he wants to make sure it is there as a source of profit as long as possible and not gone in a generation.
"Chavez has compounded his country's loses by selling very cheap oil to Cuba."
Yep no doubt profit isn't his goal as the transaction involved Cuba sending a ton of Doctors to Venezuela's poorest areas where no health care system existed.
Don't think he cares about bringing down the price of heating oil. He is just supplying oil cheap to the poor. Which DOES have an effect on the poor. =)
The American Right should be careful of demonizing Chavez as no different than Castro... Latin America is trending his way. It wont be long before the only countries not under his sway will be dictatorships that we prop up.