Venezuela’s grandiose President Hugo Chavez plans to support London’s transport system with subsidized oil, and he’s doing it on the invitation of the city’s embattled mayor, Ken Livingstone.Venezuela last week signed an agreement to subsidize the fuel bill for London’s buses by up to $32 million/year, a 20% discount that Livingstone said would fund half-price rates on city transport for Londoners who receive income support.The scheme will see state-owned Petroleos de Venezuela pay cash to Transport for London, which will reimburse private bus companies for the discounted fares. In return, Livingstone will send his transport chief, Peter Hendy, to establish a...