Venezuela Votes!

Venezuelan voters cast ballots today to make a constitutional change which, according to the NY Times, "would abolish presidential term limits, extend [President Hugo] Chávez’s term to seven years from six and raise the threshold for recalling him." Chavez also wants to make Venezuela a socialist state. People opposed to this change argue that it will make Venezuela more totalitarian than democratic, as Chavez argues. Voter turnout was surprisingly low. Lines, if any, were short and the streets were empty except for the few voters who had just cast ballots.
Criticized by many people for his proposal, President Chavez has "ordered troops to occupy oil installations over the weekend, threatening to cut off oil exports to the United States in the event of American interference in the referendum."
Unnamed sources stated on Sunday night that Chavez had won the referendum.
If Chavez did truly win, how do you think the changes to the constitution will affect the country in the long run?
Will the U.S. stay out of it, in order to ensure that they continue to receive oil?
Are Chavez's proposals really more democratic or totalitarian?