It's a combination of wire size plus length @amps of load.
Voltage drop calculator:
http://buyextensioncord.com/info_voltage_drop.shtml
Ohm's law states that as voltage drops, the load increases. It is a cascading effect.
here's another little gem to take into account.
You measure 120 volts no load at an outlet.
Plug your heater in.
Now measure the voltage at the other plug of the same outlet.
if it has a long run of 14 ga copper already, you will see a significant drop!
Now add in your extension cord. It is easy to see how things get burned down.