Chavez's Last Stand?

Venezuelan President Hugo Chavez may finally lose his grip.
3:00 | 10/07/12

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Transcript for Chavez's Last Stand?
A fierce enemy of the united states, hugo chavez faces the toughest election of his life tonight. Venezuelans have been lining up all day to vote in the presidential race there. Chavez has denounced the united states as "the biggest menace to our planet." He once called former president george w. Bush a donkey, a coward and an immoral person. Anchor jorge ramos from our partner network univision is in venezuela tonight for the election and I spoke with him just moments ago here. Jorge, great to have you with us ain tonight and president chavez finding himself in his closest race yet to hold on to power. Reporter: Absolutely. For the first time in 13 years president hugo chavez might lose the presidency. He hasn't been able to control inflation, crime, corruption, and for the first time all the opposition parties got together behind one candidate, henrique capriles, a formidable 40-year-old former governor. We know that president chavez almost made it political sport to become friends with our own controls a significant amount of oil that comes to the united states. Reporter: There is a lot at stake for the united states here in venezuela. On a permanent level we have to remember that president hugo chavez had insulted both barack obama and president bush, but going beyond the personal level, we have to remember venezuela exports billions of barrels of oil to the united states, and hugo chavez can disrupt oil prices just with a phone call and also what chavez has done, his most important ally, iran, in the region. And even though president barack obama once told me he does not consider hugo chavez to be a threat to national security, many republicans don't agree on this with pressure on barack obama, david.

This transcript has been automatically generated and may not be 100% accurate.

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