The Trish Regan Show - Oil CRACKS as Hormuz Flows SURGE—Dems’ Midterm Plan BLOWING UP?

Episode Date: September 17, 2026

The Dems didn’t see this one coming… The Strait of Hormuz just recorded 18 million barrels flowing through in a single day -- that's at pre-war levels. But, Saudi Arabia says a key pipeline will be up and running in days. And, a US energy company led by the legendary oil 'wildcatter' Harold Hamm is doing a deal with PDVSA in Venezuela. We're soon going to have a whole lot more oil. Plus, the Fed moved on rates. I'll explain why it's not as bad as it looks and buys some time to figure out where oil is heading... And, AOC face plants herself in the middle of the Ed Sheeran controversy. She is suddenly AGAINST cancel culture -- I remember a time when she wanted to cancel anyone against her! Join me for the full Trish Regan Show. Support independent journalism — become a TRISH TEAM MEMBER: https://www.youtube.com/channel/UCBlMo25WDUKJNQ7G8sAk4Zw/join GET TRISH’S NEWSLETTER https://76research.com with code DOLLAR. Learn more about your ad choices. Visit megaphone.fm/adchoices

You know, this is not going to be the layup, the Democrats thought. No, seri. They thought they could waltz through midterms and that they were going to take it all. But something funny just happened. Oil prices started coming down, down, down, down, down, down, down, down. And they're going to be coming down even further. This, I would say, has put a little wrinkle in the Democrats' plan. It may just be blowing up in their entire faces.

Welcome to the show, everyone. I'm Trish Rigan. Make sure you subscribe. Make sure you make a comment. Make sure you like. It helps the algorithm. believe me, anyway, Democrat's strategy very much right now, blowing up in their faces. And I say that because they are betting everything. They're betting the farm on the idea that there is so much

inflation out there. Things are so, so bad. And that because oil just keeps going up, up, up and away, that that is going to be the reason they're going to waltz through midterms. Right? They keep talking about affordability. And, you know, hey, don't get me wrong. Obviously, we've had a little bit of inflation, certainly at the pump, not a tremendous amount, when you look at core inflation, which is something we'll talk about later because you know the feds raising rates, etc. That also came out today. But I would say that this idea that somehow they can win based on affordability, this is about to be put to the test. And that's because just out today, here we go, ladies and gentlemen, the straight of Hormuz is basically back open. The Secretary of Energy,

Chris Wright, coming out and saying today that guess what? Just yesterday, they had 18 million barrels traveling through the straight. 18 million barrels, that's a lot. That's exactly what we were seeing pre-excursion, pre the war with Iran. I mean, that's right back to the levels we were at. And don't forget, we got a lot more where that came from, thanks to Venezuela, thanks to what we're doing in Saudi Arabia. You know, hey, if we're lucky, we'll get Canada too, right? Alberta, we're looking at you. Here's Chris Wright. Iranian behavior, I will tell you, we've risen the flow of oil out of the Persian Gulf to record highs right now. About 18 million barrels flowed out yesterday. Basically pre-conflict levels. Oil production, we're fixing that problem. Refining is the bigger problem.

That is impacted by the Russian invasion of Ukraine and the loss of refining capacity in Russia. And of course, we're still reeling from the Democrat-driven closure of refineries all across the United States. If we had all those refineries that were closed, we would have dramatically lower gasoline and diesel prices today. But we will fix that problem, but we can't unwind all the Democrat damage immediately. I wish we could. Okay, so what he's getting at, too, and believe me, there was a lot of Democrat damage because we've talked about this before you, 9.1 percent. Read on inflation, okay? Like, that is a hard thing to walk back when it's followed by 6 percent and 5 percent. And so there was a lot of damage done, not to mention. You couldn't drill

anywhere, for goodness sakes, for how long. And so we've got to unwind this stuff. But yes, there are challenges. You got to run. But it's actually coming to some kind of, dare I say, conclusion here. I mean, look at what's happening in real time, you guys. We are actually getting 18 million barrels a day through. I mean, that's unbelievable. Really and truly. I mean, the Strait of Hormuz never saw something. This is the biggest amount we have ever gotten through since this whole crisis began. So if we can actually start to see that on a regular basis, and if we can start to see more oil flow out of say, oh, I don't know Venezuela, right? If we get more oil flowing out of the ground here in the U.S. of A, then you're going to have oil, dare I say, going down, down, down, down, down,

I mean, it's down, what, 3% and change today. By the way, the Fed helped, believe it or not. I mean, higher interest rates aren't all that bad when it comes to oil prices. We'll talk about that. But the headwinds are still out there. Yes, I get it. The Iranians are getting desperate. The Iranians are getting really, really desperate. They know that we are now back at levels that we used to be at pre-war. And so they're getting a little anxious because you see, the Iranians have one goal and one goal only at this point, not just to squeeze us as badly as they can, but to squeeze Trump as badly as they can. And therefore, to see the Democrats win at midterms. It's really kind of amazing how that all works out. Here is J.D. Vans, actually just

yesterday, speaking about the Iranians on Tuesday there explaining how they're still at it. They're still at it. Those crazy Iranians. We've seen the Iranians shooting at commercial shipping, even in the midst of peace negotiations. And I think the president has actually done the responsible thing here, which is to try to ensure that world energy markets, despite Iranian terrorism, continue to get that flow of oil and gas. Okay. So we're still going to get it. Again, we're back to normal as of yesterday. So you can understand why they're freaking out just a little bit more, while they're trying to lob all these things, and they're trying to take our drones. And that's why we've got a story out of Fox this afternoon. They tried to get a little crazy again, those crazy Iranians, and they started to act up. Well, you know what that's going to mean. New escalation around the Strait of Hormuz. Sources tell Fox that Iranian forces had a U.S. contracted ship with Americans on board.

As Iran's security chief shuts down the prospect of new talks with Washington. Chief Foreign correspondent, Trey Yinks reports live in Tel Aviv. The best of my recollection, the U.S. wasn't asking for talks, Trey. You're exactly right, John, and good afternoon. Sources do tell Fox News that Iran struck a U.S. contracted vessel Around the Strait of Hormuz earlier this week. We understand there were some minor injuries, including smoke inhalation, and those that were injured were taken to a regional Gulf country for treatment. Some U.S. personnel were on board.

Tension around the strait continues, as reports indicate multiple explosions were heard around the critical waterway overnight. The Iranians claim they shot down another U.S. MQ1 predator drone over the strait, and we do know U.S. forces destroyed two Iranian boats this week that were trying to steal a U.S. sea drone. And the crazy Iranians tried to pull one more thing. This is a note that got put out by their guy who's like in charge of the war department over there at the IRGC. He says, don't get distracted by the U.S. President's mixed signals from no negotiations to we're ready to talk. He put this out this week, which is kind of strange, right? Because we're not willing to talk right now. We're not negotiating.

It's over, guys. It's over. You blew it. All right. The stakes around oil and the straits have taken. changed. Damage control won't stop what's coming. No talks until Iran's conditions are met. Period. Exclamation point. Oh my gosh. He's channeling Trump. He's literally channeling Trump. The Iranians have like decided to mimic the posts that Trump puts out on true social, but they're doing a

really bad job at it. Anyway, it's delusional of him to even be saying that because we're no longer in negotiations. I mean like maybe maybe some people would say, hey, you know, if they were willing to fold. But I think like the handwriting's on the wall. I think it's pretty clear. We've already talked about this. Just go watch my show from like a week and a half ago. We talked about all the different pipelines, many different pipelines, many different opportunities. We don't need Iran. We don't need the straight of Hormuz. We already have proven, have we not, that we can take it. We can just control it. We have 18 million barrels a day flowing through it, and that's all we need. Not to mention we got plenty in America.

We are a net exporter, don't forget, of oil. And we got plenty coming. out of Venezuela more on that because another deal was announced today with a major energy company. I mean, we got a lot. And guess what? We're serious enough. You start threatening us. And I'll tell you, we will get down to business. I want to show you a new development just coming out today. This is massive. Okay? So the IRGC can take this. Trump just approved a $2.8 billion arm sale to Israel, including $40,000 one time. bombs. Woo! That's my president, right? That's what I'm talking about. All right? So just don't mess with us, or Israel, for that matter, because we just did the largest arms deal that we've ever done with Israel.

And he's doing this, going into midterms, interestingly enough, amid all of this flack from the Mamdamis and the El Saeeds of the world and AOCs of the world, hating on him over Palestine, right? Again, think about the loyalties of these people. Would you for one second? Think about where they're really coming from. Are they loyal to the USA or are they loyal to Iran? Are they loyal to China? Are they loyal to basically the enemies of the USA? Because that's how it appears to me over and over and over again. But I'll tell you, they're freaking out. They're freaking out. And by the way, they should be because now that we're bringing the straight back to pre-war levels and we have that much more energy coming on board, the Democrats are going to be in trouble. I mean, oil prices down.

some 3% today and they do not like it. Their entire midterm strategy is based upon Donald Trump is bad for the economy. But that's not actually true. Again, Iran wants him to lose. Don't forget. Not for two seconds should you think that Iran trying to come through at the 11th hour with something when they got nothing is all about they're trying to really put the pedals in the medal in the final moments before this midterm election because they want Donald

Trump to lose to the Democrats. and they want impeachment trials and this and that and the other. That's what they want, okay? He knows it, I know it, you know it. He said this just the other day. We're going to find out. Oh, I think the war is going to end immediately after the election. I think the war will end immediately after the election.

Because they can't hold out any longer. They're desperate to try and affect the election so that we can get a nice, weak group of people in there and leave them alone and let them have their new people. weapon. All they want is a nuclear weapon. And if they had a nuclear weapon, the whole world is in deep trouble. Are you still hoping for a nuclear deal? Secretary Wright said a nuclear deal might not be on the table anymore. No, I'm doing much more than a nuclear deal. There's a lot more than nuclear. We're going to have nuclear. That's 99.9. But there's going to be a lot of other things on the table that wouldn't have been on the table three months ago.

such as, boom. In other words, yeah, there's a nuclear deal going on in Saudi Arabia. The Saudis have come forward and asked the U.S. for our help, and it looks like we're going to give it. On top of which, you've got a $2.8 billion deal, the largest deal ever done. This is, I mean, it's really, really massive. The largest deal ever done with Israel, and they've got 40,000, one-ton bombs that they're getting now, courtesy of Uncle Sam and the U.S. of A.

They're paying us for it. Don't forget Donald Trump's not going to let him get away with that. They're paying us for it. But wow. So there's security. Visit BetMGM Casino and check out the newest exclusive. The Price is Right Fortune Pick. BetMDM and GameSense remind you to play responsibly.

19 plus to wager. Ontario only. Please play responsibly. If you have questions or concerns about your gambling or someone close to you, please contact connects Ontario at 1-866-531-2,600 to speak to an advisor. free of charge. BetMGM operates pursuant to an operating agreement with Eye Gaming Ontario. Ability is going to go right up through the roof. So is Saudi Arabia's and what happens Iran gets squeezed out. So the Democrats, they go back to, okay, they're all over this affordability

thing, right? We saw some of the hearings yesterday. Remember Ayanna Presley, she perhaps sort of captured the spirit, if you would, as she spoke to the Treasury Secretary and went on and on about prices. And look, she's not wrong, but she's only going to be right for a day, basically. No, are you aware? You can ask me a question. Stop filibustering. American people are suffering. You know better. You go on television and you say the Trump's economic agenda is a great comeback. And that makes me question not only your integrity, but if you're operating in the same reality, Secretary Besson, the families in my district and across this country are struggling to afford a home, buy food, raise their kids, pay these high utility bills, and they deserve

government that's going to make their life easier, not harder. Okay. Well, I think you're actually kind of getting that. I mean, I reiterate the Strait of Hormuz as of yesterday had 18 million barrels of oil going through it. That is a lot of oil, and that is exactly how much we used to have going through it. And now we have all these other deals on top of it. I mean, I mean, it's actually like a win-win-win. And then we've talked about the pipelines. Again, they're building all the pipelines. And I realize the Houthis, you know, getting contracted by the likes of Iran

or trying to do their damage out there. But Saudi Arabia came out today and said, hey, guess what? We're going to have our pipeline, the key pipeline, back up in a couple of days. So the Democrats, they're desperate. And I'm just going to tell you this whole song and dance about affordability. It's about to go poof. It'll happen fast, not as fast as we wanted. I get it.

you know, here we are mid-September, we've got some time. We've got about six weeks, all right? And six weeks is a very valuable amount of time in politics. So even though you're looking, and look, I've looked at them too, and it's frustrating seeing the polls. And sometimes I even wonder if they're real. I mean, really, really? Tala Rico? In Texas? You're kidding me, right? You're kidding me. The guy that can just name a drag queen off the top of his head, just like that, like magic? Who's your favorite drag queen in Texas? Texas. In Texas? Oh, well, I guess I have to say. I mean, he literally knew a drag queen off the top of his head in Texas. I mean, I would be hard-pressed to come up with one. Maybe RuPaul, right? Rupal, everybody knows

RuPaul, but like, am I going to be able to name in a particular state? A certain drag? Wow, wow, wow. So, Tala Rico, ahead in Texas? You're kidding me, right? I mean, it's just, it's bonkers to me. Or the idea that El-Said might get to first base in Michigan. This is alarming stuff. But here's the good news. this whole affordability play, it's not going to play. Let's watch it. Okay, let's watch it together. In like three weeks' time, they're going to be out of options. I think.

I think. You know, meanwhile, we've got Democrats melting down right now, because as of this Friday, guess what? You want to come to the United States of America? Well, you can't, if you can't support yourself. Did you hear me? Okay, DHS has a new rule. Actually, it's an old rule.

It's actually a law that's on the books. They're just going back and enforcing a law that already exists. You want to come to America? You have to prove that you have a way to support yourself. Imagine that. I mean, it has the Democrats doing backflips. They're so, so upset. Here is Mr. Mamdami himself, the guy that smiles during the middle of a funeral service over 9-11.

Yeah, he's really. really worked up because, you know, what are all those Ugandan's going to do? I don't know. Drastic and unlawful changes to our country's public charge rule, a rule that makes it possible for someone to be denied immigration status based on the likelihood of their need for public benefits. I'm sorry. Like, are you following that? Because I thought they told us over and over and over again, that people who were here illegally couldn't actually qualify for benefits. There's that. Right? And now, well, there is a law on the books that has existed for some time that actually says, no, you know, if you're coming to this country, you have to show that you're

going to be able to take care of yourself in the old days. You know, you'd have the churches or the families or somebody sponsoring somebody, and they would come in that way until it became one big, giant free-for-all. And so now they're losing it. I mean, not to mention the Democrats also announced this week that they were fighting back on SNAP, on SNAP, because it seems this administration, according to the Department of Agriculture, has managed to save American taxpayers' $6 billion in SNAP fraud. Oh, but no, they want to campaign for the fraud. More on that in a second, but let's go back to the full Mam Dami clips so we can appreciate his hysteria in all its hystericalness.

Drastic and unlawful changes to our country's public charge rule, a rule that makes it possible for someone to be denied immigration status based on the likelihood of their need for public benefits. Set to go into effect this coming Friday, September 18th, the new public charge rule expands the list of public benefits that might count against green card or visa applicants. This is an undisguised effort to strip New Yorkers of the services they rely on. The public benefits they are entitled to. It is estimated that up to four million people from across the country could unenroll from their health care alone, including 1.8 million children. As a result of these changes, the rate of premature mortality in immigrant communities in New York City could

increase by up to 10.6% within just the next five years. Wow. Data is clear. Denying people's services does not erase their need. It compounds it. Whoa. Okay. So he's saying that the Trump administration is going to be responsible for all of these early deaths because the Trump administration is not allowing people to become citizens if they are dependent on the state. I'm sorry. Like, you know, you know me. I'm a good old-fashioned red blood and American capitalist. Capitalist in all capital letters, okay?

It's like a dirty word nowadays, but I'm very proud. and I wear it on my sleeve. And here's the deal. As a capitalist, I expect that you're going to take care of you and I'm going to take care of me. And, you know, maybe we take care of some friends together, but, you know, we're not taking care of the whole God darn it world. No. Like, I didn't sign up for that. You didn't sign up for that. I know Mam Dami thinks he can take your money and my money and everybody else's money and actually make sure that we all, whether we want to or not, are responsible for the rest of the world. But that's not the way it works, right? That's why we have sovereignty. That's why we have borders. That's why we have country. And I know it sucks if you were born in Uganda. Okay, I get it. You know, I love this country. I love this country dearly. And I thank the Lord every day that I was born in the United States of America. But we need to keep it the United States of American. Part of being a United States of America citizen is this belief, right? And it comes all the way

back from the founding back in 1776 that you can do it, that you alone are responsible for your own destiny. the American dream, right? We've talked about this before. It doesn't exist in any other culture. You don't have a Uganda dream. You don't have a Indian dream. You don't have a French dream. You don't have a UK dream. No, you get the American dream. The American dream, because we believe that through hard work and ingenuity and determination, and sure, I get it, maybe a little bit of luck. you're going to be able to do something in this country. And the reason you're able to do something is because we don't have the likes of the Mamdami's and the Al-Said's and the AOCs and the Rushita Thelib's and the Ilhan Omar is out there trying to take from all of us and redistribute to their friends.

And don't kid yourself for two seconds. If they're not redistributing to their friends, that's exactly what it's all about. That's why we're discovering so much fraud. That's what happened. And what do you think? Minneapolis with the $250 million feeding our future debacle. I mean, that is not going to fly. Rand Paul from Kentucky, the senator, he said he wants to make sure we eliminate,

1,000 percent eliminate welfare for all refugees. In other words, you're not coming here, getting a handout. There's no free load. And in the United States of America, you take care of yourself and you take care of your own. And that's the way it's been done for hundreds of years. And it's the way it's going to continue. It's not about coming here to join the welfare state. We actually have laws on the book that says if you come here legally, you're not supposed to be eligible for a host of welfare programs for five years. Some of the way that people have gotten around this is by coming as refugee status and they've allowed refugees then to immediately get on welfare. So, you know, we have several hundred thousand Somalis in Minnesota. Many of them came as refugees and about 85% of them that started on welfare are still on welfare. So no, I've put forward legislation on a couple of occasions now. I had about 20 Republicans support me

in the Senate, about 30 Republicans and all the Democrats voted against me, but I would eliminate all welfare for refugees. You can still come to this country, have someone sponsor you, have a church sponsor you, and they take care of you, have a family member sponsor, and they take care of you. That's the way it historically was. That's the way it should be. But we should not have any welfare for immigrants that should not be a beacon to the world to come here and get free stuff. There's no free stuff. There's no free loaders, right? You want to come here.

You're going to come here the right way. It's amazing. 22 states are now suing. So it's not just Mamdami in New York City. You get 22 states that are suing over this new requirement that's going into effect this Friday. Guess what? You want to come here? You want status?

You're not going to be able to get welfare. All right? We do not, or at least, when we look at your application, we want to ensure that you're not going to be dependent on the state. You know how much is going to save us? $13 billion a year. I'll take it, right? $13 billion a year. You add that plus the snap savings we're getting $6 billion. I mean, hey, I'll tell you, we're making a dent in this. We've got to make a dent in it sometime, somehow, some way. This law actually goes back to 1882, everyone. It's the Immigration Act of 1882. And this is what DHS is using to block migrants from using

welfare. So you get 22 states trying to sue, trying to, you know, basically, turn this all around. I mean, you've got to think about what they're doing in terms of our culture, right? Our culture is all about helping oneself, right? God helps those who help themselves. And so you've got to get out there and work, and you've got to get out there and do something for a living. And you get out there and you take care of your family. And maybe your friends. And maybe your community. But like Charity, you know, it only goes so far. Once we put in the hands of Mamdami and company, for goodness sakes, you won't see it again. You know that. I know that. ought to know that. The DHS response to this lawsuit from these 22 states. Here they are, putting this one at

Polymarket actually reported 22 states suing the Trump administration to block a new public charge rule that could block immigrants who use public benefits from obtaining green cards. Because yeah, gee, I think we kind of want you to be self-sufficient. I mean, if I moved to Mexico, do they want me mooching off the state? I don't think they offer that quite down there, do they? I mean, definitely don't want me voting, right? Anyway, Homeland Security writing, let's get this straight. Sanctuary states are terrified. They will lose federal funds because hundreds of thousands of illegals and non-citizens might remove themselves from America's welfare programs. Ah, that's what it is, huh? They're worried that they're going to lose the federal funds because of all the illegals and the non-citizens getting America's

welfare programs. I thought they told us that they weren't giving it to illegals. Remember how many times they told us that over and over and over again. It was fake news to talk about all the money that the states were getting and how Donald Trump was saying, I'm cutting you off, I'm cutting you off, no more, no more. They said, well, this is stupid. This is a non-issue because none of the money goes to illegals. Well, you better believe it does. This is the ideological contortion required by left-wing leaders to justify their defrauding of the American taxpayer at the hands of illegal criminals. Wow. I mean, how's that for an argument? We're on the side of the illegals, they want to come here and drain you of all of your hardworking wages.

That doesn't seem to me to really be what we might call the political argument that would play, so to speak, as they say, in Peoria. Here's another story. USDA says, crackdown on SNAP fraud prevented $5.8 billion in taxpayer losses. Woo-hoo, right? Brooke Rollins coming out and announcing that one yesterday. In other words, we're clamping down on this stuff. And what do they do?

They turn it into, oh, woe is me, woe is me. And they're trying to play on everybody's heartstrings and say, how dare you take this? How dare. What about the fact that they might be taking it from us? Has anybody thought about that for two seconds? You come here illegally and then you're mooching off of Uncle Sam for years? I don't think so.

But then El Saeed twists it round and around and around until he goes on to Pod Save America and says this. I learned pretty early that if you let a bully take your lunch, you're not going to eat lunch. I like to eat. So at some point I was like, okay, you know, I know what to do with bullies. And my whole life, like I am the kind of person that if you're somebody who is struggling and don't have what you need, I will go to the ends of earth to try to provide those things. And if you're a bully who's taking those things away, I will pull the the fuck out of you. We had to clean up because there was an F bomb in there. Yeah.

It's the guy that wants to be the next senator from Michigan. He doesn't. even like Michigan. I mean, there's this, like, famous island, you know, where they, they still have, like, the horse-drawn carriages. I don't think they allow cars. It's beautiful. McKintock, I hope I'm saying that right. It's beautiful. We actually looked to go there on vacation. It was just really, really difficult to get to, and it meant I was going to have to fly through Detroit. I was like, okay, I'm sorry, the layover in Detroit. You had me at the beautiful island until, anyway, sorry if anyone's from Detroit. It really was too hard to get to. I'm like, it's easier to go to Europe, for goodness sakes. But it's a beautiful, beautiful, beautiful island. And he trashed it. And he was

caught on open mic trashing it. I mean, he hates his own darn state. And the idea that this guy is somehow going to win? Are you kidding me? No, he's not going to win. He's not going to win because I'm going to go back to the very issue that we started talking about. And that is oil. This is, this is their hope, right? They hope that Iran actually can come through at the 11th hour with something and that this is going to mean destruction of all Republicans at the ballot box. And I don't think it's going to happen because, look, I watch energy markets every day. I watch all markets every day. I mean, I have a whole background. You guys know that in finance. And I have my 76 research.com, my own financial firm. And we published newsletters. We've got one coming out today on the Fed

that I was working on earlier with Rob. I mean, the reality is I watch this stuff every day. And I'm watching oil come down. And it came down a lot today. And it came down a lot because 18 million barrels are going right back out through the Strait of Hormuz, just like they were before this whole conflict started six months ago. And oil's coming down today because everybody's looking around and they're saying, oh, wow, the pipeline in Saudi Arabia, that's going to be coming back online soon too. Look at this. After all the concerns about Saudi Arabia and its pipelines and the attacks that were happening. Look at this.

Out today, Bloomberg News, reporting that Saudis seek to resume half of the key oil pipeline within days, within days, guys, all right? So that one's going to be back up and running as well. Let's go to the Fox report. New developments there on Saudi Arabia. In Tehran. So the Saudis are conducting strikes. They have requested U.S. support.

Presidents on Iran, one of the country's largest proxies, the Houthis in Yemen, are ramping up their attacks on Yemen. government forces and neighboring Saudi Arabia. The Saudis intercepted a Houthi drone overnight near the holy city of Mecca as these attacks expand in range. Now, the key thing to remember here is that the escalation is linked to the situation with Iran and the Houthis are receiving direct orders and support from the regime in Tehran. So the Saudis are conducting strikes. They have requested U.S. support. President Trump has not granted that yet. But let me give you a different perspective on this. Why are the Houthis doing it? Because Iran is paying them cash.

and offering them material and operational support. But this Iranian escalation is evidence of the pain that they are going through economically. Axios reports that CENTCOM Commander Admiral Brad Cooper convened a meeting of top military commanders from regional countries, including Israel this week, to strengthen security cooperation needed to address the ongoing threats from Iran and its proxies. Well, we've got some strength that's coming. I suspect that the U.S. will actually help Saudi Arabia.

It's partly why they're doing that nuclear deal. And then the other strength that's coming is what we were talking about earlier. Take a look at this one, guys. A $2.8 billion arms sale to Israel, the largest ever, with 40,000 one-ton bombs. So I have just a little bit of a feeling that things will be under control sooner rather than later there in Iran. I do, I do. And in Saudi Arabia, same deal. Again, they're reporting that they're going to get this thing back up and running within a couple of days. Here is some video, two shots. If you take a look to these pipelines, right, that they're trying to destroy. There's the before and there's the after.

Again, another before and after. But here's the good news. The good news is it's all coming back online. It's all coming back. And so, you know, They can make a lot of noise, but they have no army. They have no Navy. They have a couple little fishing boats, and they've got some drones. And I realize, you know, warfare is different and it's changed, et cetera. But we still have the upper hand, so we got to use it. Very exciting announcements from Venezuela today.

You will see a very well-known oil company, an American company, that will talk about their investment into Venezuela. Boom. Okay, so this is the other card up the Trump administration. sleeve. They got more oil coming out. I told you. It's not just Saudi pipelines. It's not just what we have in the U.S. It's also what's down in Venezuela. So that's Chris Wright, the energy secretary, giving you a little preview saying, hey, we've got a big deal that's about to be announced. Well, sure enough, that deal got announced today. Harold Ham's company. We're talking about continental resources.

He just signed a big, big deal, a big deal to explore those Venezuela oil fields. And he's signing it with pedavesa, which means probably, I'm guessing, someone in the Trump administration said, hey, Harold, you know, talk to Darcy. Darcy Rodriguez, Delsey, forgive me, Delsey Rodriguez. And Delsey and Harold, they did a deal. I actually have a call out to Harold this afternoon, one, to congratulate him on the deal and two, to see if he'd come here on the show and explain it to us. Because you know I've said forever that that is an enormous opportunity. You just kind of need the right team in there. And by the right team, not just the Americans, right? But you need the right people in Venezuela that will allow the Americans to do what they need to do to refine this stuff,

to get it out of the ground and to refine it properly so that it can hit all of the markets. And so Donald Trump made this a big priority early on. And what do you know, Harold Hamm is going in there. And he's signing this big deal for 30 billion barrels. Okay? It's a 30 billion barrel deal with Petavasa, the state-run oil company. So I'm just saying, you look around, You look around and look at all the oil that we got here.

You know, we got tons of it. It's gushing out all over. And then we got it in Venezuela. I'm hoping we get a little bit up in Alberta. If you're watching from Canada, you know what I'm talking about, right? We'll see. We'll see. There's an independence push in Alberta, Canada, and they got all the energy.

And for whatever reason, Carney and company, Carney doesn't seem to understand how valuable they are to the overall economy. And even what you're seeing now with the tariff war, or with Canada, for goodness sakes, Alberta, you know, they're going to get stuck having to put all these tariffs on their oil, and you've got tariffs on our stuff coming in, and what's it going to mean? They're not going to be able to sell as much oil, so they don't really like that. So again, another reason to be looking for some independents, and I think we'd be very supportive of that independence, and we'd probably do a lot to help them, because they have,

what we want, right? And that is natural resources. So we're in the market, guys. We're in the market for oil. We're in the market for natural minerals. It's why we're so interested in the Arctic right about now. That's why we're so interested in Greenland. It's why we're so interested in Venezuela. You got Marco Rubio just last week doing the whole grand tour of Latin America making sure that we actually do fix the root causes of migration because we need capitalist structures down there throughout the entire Latin America so that we don't have all the fraud and we don't have all the socialism, which leads to, what do you think? Oh, and the crime. Dare I forget all the crime. I mean, the crime, the lefties, they love the crime, right? They don't want any police.

No, no, no. I mean, the defund the police movement, you know, if I have to hear about that again, for goodness sakes. And you know who we heard from it a lot from? AOC. AOC, we're hearing a lot from her lately. A. A.O.C., we're hearing a little too much from her lately. You see, there was this big ordeal with Ed Shearne. Great singer, I love his music. Anyway, he was performing recently, and he was, you know, He had this entertainer named McElmore, who's a rapper from Seattle. If you're watching the show, rather than listening, we encourage you to watch. You can watch on YouTube Live and then on Spotify. You can see he's also dressed in green, just like me.

He actually is dressed in a more feminine costume than me today because he's got lovely fur and is that patent leather? Anyway, quite a jacket, quite a jacket, McElmore. Malcolm Moore decided to get out there on stage and say this. And how many times have I told you? You know, I really don't want to hear from the performers, please. I mean, at the risk of sounding two crew, just shut up and sing, for goodness sakes. Or in this case, for this guy, rap?

I don't really like rap. Surprise, surprise. Anyway, here we go. Maclemore. I stay free palace money. I stay free Lebanon. Free Cuba to the Congo to Sudan to Sudan, to. Iran and all have to live in fear because it is terrorist organization.

Ice. Yeah. ICE. Because of this terrorist organization. I mean, my gosh. So the next thing you know, Robert Kraft says, yeah, you're not going to perform at my stadium in Boston. Not with that opening act.

Thank you very much. And so Ed Sheeran was put in the hot seat. and he was asked, you know, what do you think? And he's like, well, you know, it doesn't really matter. I have my own personal views on it, but I'm going to go forward with my tour and I'm going to keep doing this because, you know, there's a lot of people on livelihoods involved, etc. I don't want to let all these fans down. I don't want to let all these other people that are on the tour. And I'm going to keep my political views to myself because Ed Sheeran is no dummy, unlike, you know, some performers out there who think that this is their opportunity. I mean, they're trying to like moonlight for Obama's long gone sense. State Department or something, like influence culture somehow? Please. You get AOC, like I said,

we're hearing a little too much from her. Now wang in on this. TMZ caught up with her today. Watch. Hey, if Ed Shearin comes on the radio while you're driving along, are you changing the channels? I am. You are? Yeah, I am. Why is that? I think that what we've seen, especially, it's not just what has happened with the act and not just in removing Macklemore from the lineup but when you see what Robert Kraft did to line up all of the stadiums to censor speech in that one specific way it's become clear that this is not just about one music artist or two music artists but this is about how just a handful of stadium owners and the elite can

prevent an entire massive issue and this is about how just a handful of stadium owners and the elite can prevent an entire massive issue, in this case the genocide in Gaza, but it doesn't stop there. It could be speaking out about AI. It could be speaking out about any issue that you can now just get a handful of stadium owners to ensure that an entire person's career can be jeopardized if they speak out about any issue. The supporting acts have dropped out, but Ed Shearan, I think will still continue with the tour. What do you think his responsibility is in all of this?

You know, I don't know, but, you know, I think that because you never see these contracts and I have no idea what the financial entanglements of all that is. But I do think that, you know, I think that the right thing to do is to speak out about it. And I think the right thing to do is at the very least to speak out about this abuse of business. power. Because if they're saying that to him, right, then they can say it to anybody. And at what point does it stop? I have a huge amount of... Can they? Can they? Can they? I find that really interesting. She's suddenly a crusader for free speech. AOC. Because I seem to remember numerous times over the last several years when she was anything but a crusader for free speech. So I see when it comes to free Palestine, We're all about free speech.

And how dare Ed Sheeran not speak out on this? Because, you know, it's big bad Robert Kraft, who's the man trying to keep him down. I see, I see. You know, I'm just going to point out that AOC has, at various times, again, throughout her rather short career, had a lot to say about clamping down on speech. I mean, I remember this particular one. She was championing the firing of Tucker Carlson when he left Fox. Now, I know, we don't necessarily have a lot of Tucker fans here.

Thank you for watching me. But I still just want to point out, everybody has a right, right, to get out there and say what they want. Visit BetMGM Casino and check out the newest exclusive, the Price is Right Fortune Pick. BetMDM and GameSense remind you to play responsibly, 19 plus to wager, Ontario only. Please play responsibly. If you have questions or concerns about your gambling or someone close to you, please contact connects Ontario at 1-866-531-2600 to speak to an advisor. Free of charge.

BetMGM operates pursuant to an operating agreement with Eye Gaming Ontario. And in this particular case, she thought de-platforming was exactly the way to go and was encouraging Fox to do so and then was letting out the hip-hip-oray when it happened, remember? Tucker Carlson is out at Fox News. Couldn't have happened to a better guy. What I will say, though, is while I'm very glad that the person that was arguably responsible for some of the largest driving some of the most amounts of death threats and violent threats, not just to my office, but to plenty of people across the country. I also kind of feel like I'm like waiting for the cutscene at the end of a Marvel movie after all the credits have rolled. And then you see like the villains like hand reemerge out to grip over like the end of a building or something.

But deep platforming works. And it is important. And there you go. Good things can happen. There you go. I mean, I guess the weird hand kind of did come out eventually, right? But she was all for it. Look, I mean, you can't have it both ways, lady.

It's one or the other. There was another time that she talked about the media, and she wanted the media to be censored. She was all about that censorship. I mean, come on. And now you're going to sit out there with a, I mean, this is what you call faceplant, right? Like, it's kind of funny because, hey, there's this little thing called tape. You ought to know, AOC.

you're always on tape, you're always, always giving us these little Instagram numbers, which we can then go back and play, which is going to be a big problem, I think, when you're running for president anyway. This is AOC. She just lies through her teeth for any kind of politically expedient moment. But what's fascinating is that she's somehow gotten clarity all of a sudden on Palestine. I don't know how that happened. Was that shummy little conversation with Mam Dami, what did it, on 9-11?

Because I do recall she really didn't. have much opinion or any opinion or really anything to say about this just two years ago while on a PBS Frontline episode. You remember this? What is your position on Israel? Well, I believe absolutely in Israel's right to exist. I also think that what people are starting to see, at least in the occupation of Palestine, is you use the term the occupation of Palestine. What did you mean by that? Oh, I think what I meant is like the settlements that are increasing in some of these areas and places where Palestinians are experiencing difficulty and access to their housing and homes.

Do you think you can expand on that? Yeah, I mean, I think I'd also just, I am not the expert on geopolitics on this issue, you know? You think? No. Well, she's become an expert, you see. She's like one of the backup singers in the Mamdami band right now. You know, he's teaching her all the ways. And suddenly, a few little laughs at the 9-11 ceremony. And the next thing you know, AOC is out saying this mackerel, whatever the heck his name is, the rapper from Seattle, ought to be able to go out there and just rant and rave about, you know, free Palestine, free Palestine, free Palestine. Well, you know, Listen, he can rant and rave all he wants. I would just not go to his concert, right? Because that's free market capitalism at work, baby, and, you know, craft. He owns the stadium. So free market capitalism dictates that he doesn't want that guy.

In his stadium, he's not going to book him. Is that cancel culture or capitalism? I'll let you answer that question. But I think what we have just exposed, without a doubt, is that AOC says one thing one day, And another thing, another day. Tomorrow on the show, we're going to do a deep dive into her. I think it's worth doing because this woman is actually who they're looking at to be the Democratic nominee for president. I mean, so much so that Gavin Newsom is talking about stepping down now, he's using Kamala as an excuse.

But I think we all know that AOC is the excuse because all the polling shows that she's way ahead of him. Now, selfishly, I'd kind of love to see her be the nominee because it would be like Kamala times 1,000. Like I just think she's going to just faceplant just like she did with that little number. But, you know, let's, we won't count our chickens before they hatch. Tomorrow we're going to do a bit more of a deep dive on this. The Fed, up rates today. If you haven't subscribed to my newsletter, please go over to 76research.com and do that because we've got a lot of insight on all of this stuff.

But the Federal Reserve coming out today and saying, uh-huh, we're up in things by a quarter of a point. Here is Kevin Warsh, the newly named Director of the Federal Reserve, take it over for Jerome Powell. This was a unanimous decision, guys. The FOMC decided to raise the target range for the federal funds rate by a quarter of a percentage point to three and three quarters to four percent in support of the Federal Reserve's dual mandate. The committee is continuing its policy of maintaining ample reserves in the banking system. As noted in the policy statement, at least just a short while ago, Economic activity is expanding at a solid pace.

Good. While uncertainty remains elevated, owing in part to geopolitical developments, domestic spending has been resilient. Productivity growth, strong, and capital investment is robust. Job gains have kept pace with the workforce, and the unemployment rate has changed little. But inflation remains elevated. today's policy action will support a timelier return to the committee's 2% goal. Okay, he didn't tell me anything I wasn't obviously very aware of.

I would say it's interesting that he sounded so positive on the economy. I think there's a lot of reasons to be cheered by this economy right now. In fact, I keep talking about core versus overall inflation numbers, and the core number shows that the inflation we've seen in energy costs actually hasn't caught up to the rest of the economy. And the other good bit of news is what I began the show with, which is the reality that we're now getting oil through the Strait of Hormuz. And, of course, the Venezuela stuff and the Saudi stuff.

And, I mean, there's a lot of reasons to think that oil is going to come way, way, way, way down in the relative near future. The other thing I liked was what he was saying about the economy. And I said this to you guys as well. We're at very low unemployment, overall inflation. The thing that he doesn't know about, all right, the thing that he's struggling with and that the other Fed governors are struggling with is whether or not the reduction we're seeing in energy markets, you know, here today, right? Like oil trading down like three and a half

percent, is that going to be continued, or are we going to be looking at $100 barrel oil for the foreseeable future? Again, you know my read on it, you know my take on it. I think that this is going to get resolved relatively quickly. And so I'm not as concerned perhaps as, you know, they have to be, but, you know, it's easy to, it's easy to be the armchair quarterback, shall we say. I mean, it's a lot harder if you're there at the Federal Reserve and he doesn't want inflation to get carried away. The president obviously feels differently. He wrote today, interest rates in the U.S. should be at 1% or less because we are by far the best credit in the world. In other words, you want to be in the Chinese equivalent of a treasury bond? I don't think so.

Do you want to be in a German bond? No, I don't think so. Do you want to invest in France? I don't think so. So where are you going to invest other than the U.S. of A, for goodness sake? So he's like, I'm sorry, like we got a good product, for goodness sakes. We shouldn't be given them much more than 1%. Our country is booming, he said with new investment. He is right. If we stop trading with every country that we have a deficit with, which is most of them, we will make at least $1.5 trillion a year.

The word deficit is nothing more than a fancy word for loss. We are carrying almost every country in the world, and that can not go on any longer. Lower the interest rates for the America for the United States of America, lower them fast. So this came out at 4.38 p.m. we had Kevin and company moving forward with this interest rate announcement at 2 p.m. Here's one thing. One takeaway that I have for you actually is that the president could have been more mad. He kind of spared Kevin Worse in that one, right?

He could have been more mad. He could have been more angry. He could have said, you know, Kevin, Kevin, Kevin. Why did I pick him? And he didn't. So maybe he knew this was coming. I will tell you that there is a silver lining, okay? So the president can rest assured.

You guys can rest assured there is a silver lining in all this. For starters, Kevin Horsk can get out of it if he needs to, right? You can always lower rates at the next meeting. So this is what you call keeping your powder dry just in case. But here's the benefit. Because oil, you see, is priced in dollars. And when we raise rates, what happens? The value of the dollar, vis-a-vis all the other currencies in the world, it goes up.

So if you've got to buy your oil in dollars, hey, guess what just happened? It means each dollar is worth more and therefore you need fewer dollars, right? Fewer dollars, each one, I mean, you're going to need more, you know, for the renimbi, you know, or for the yuan, you're going to have to come up with a few more. But for us, the dollar is going to get stronger. And so given the oil is priced in dollars, it could have an effect, just a little effect. I'm not saying it's going to be a big effect, but that's a little bit of a silver lining that the president can take to sleep with him tonight. But, you know, we also understand that we're going into a very different kind of economy, one that is filled with, in my view, a lot of productivity gains that are going to come from AI. And so because of that, you want to make sure that you don't restrict as you begin to grow.

and as the economy gets stronger and stronger. It is a balancing act, believe me, a huge one, and they get a lot of work ahead of them. We have a note coming out on this tonight or tomorrow morning. It depends on how much I can get done tonight, right? Maybe it'll be tomorrow morning on the Fed. American resilience, inflation protection, income builder. Those are my three portfolios at 76 research.

But we've got some thoughts we want to share with you on all of this. Thank you for being here. Thank you for doing all you do to make this show a success. I love seeing so many regulars. We have our crowd, don't we, peace in my mind, and the rest of you. it's good to see some new guys here, some new folks. Thank you for joining us. And again, remember to subscribe and just like it, right? Just like it, leave a comment. Every little bit

helps that little algorithm. I've learned a lot about algorithms over here on the other side, but I'll tell you, I wouldn't trade it for the world. Thank you so much for being here. I will see you back here live on the show tomorrow.