In short
The episode argues that Trump’s Iran-related oil disruption and subsequent Venezuela oil “deal” are backfiring, involving alleged fraud, market manipulation, and illegal government actions; it also claims Trump’s Canada trade war is harming U.S. states, especially Maine, while Trump responds with mocking “Lake America” memes.
Guest backgrounds
No guests are identified in the transcript; it appears to be a solo host segment.
Key claims
The Strait of Hormuz closure creates supply shock; Trump’s “65 billion barrels” and “biggest deal” numbers are exaggerated; the plan would require a U.S. government company and a JV with Alejandro Betancourt, accused of stealing Venezuelan state funds; both Venezuelan opposition and supporters denounce the deal. Susan Collins is criticized for voting against stopping tariffs.
Notable examples
Susan Collins letter to Commerce Secretary Howard Lutnick and Trade Rep Jameson Greer; Troy Jackson’s rebuttal; Trump’s “Lake America protected by Donald Ducks” video; clips from Doug Ford (Lake Ontario sign), NYC Mayor Mamdani, and Illinois Gov. Pritzker on gas/tariffs.
Written by AI. May contain mistakes. Listen to the episode to check what was said.
Chapters
Tap a time to open that second in VOTrump's Venezuela Oil Deal Missteps
1:49 to 2:16
A detailed discussion on Donald Trump's controversial oil deal with Venezuela and its implications.
“Over 4 million businesses have skipped the line with Stamps.com.”
Trump's Venezuela Oil Deal Missteps
2:23 to 5:56
A detailed discussion on Donald Trump's controversial oil deal with Venezuela and its implications.
“With the Strait of Hormuz still closed, what does a Ponzi schemer do?”
Impact of Trump's Trade Policies
5:56 to 8:02
Analyzing the repercussions of Trump's trade wars, particularly on Maine and Michigan.
“And this Venezuelan land grab, whatever you even want to call it, is a market manipulation scheme more than anything.”
Political Reactions to Trump's Actions
8:02 to 14:00
Examining various political figures' responses to Trump's actions and their impact on communities.
“And by the way, while you're doing all of these like fraudulent, phony, and horrific deals with Venezuela as well, which also infringes on their sovereignty.”
Critique of MAGA Republican Actions
14:00 to 16:43
Explore the contradictions in MAGA policies and statements regarding Venezuela.
“And I mean Republicans like Darren Bailey.”
Market Manipulation and Oil Refinement
16:43 to 19:15
Understand the implications of oil market manipulation and its effects on prices.
“and conquest and all of these horrible things.”
Transcript
Automatic transcript. May contain errors.0:01Fox News is streaming live on Fox One. When it matters most, you want the truth from the voices you trust. Fox News goes beyond the headlines, bringing you the stories you won't hear anywhere else. Live coverage, sharp analysis, real perspective. At home or on the go, stay connected when it counts. Stream Fox News on Fox One. Download today. Evening, buyers remorse. Buy a new car? I'll be moving in. Let's get started. Sorry, I think there's been a mistake. I bought it from Carvana. You what? Yeah, great price. I even have seven days to love it or return it. So there's no... No, no buyer's remorse.
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2:22Ben Meiselas:Donald Trump just made things so much worse as he tries to cover up the catastrophic and unlawful war in Iran. With the Strait of Hormuz still closed, what does a Ponzi schemer do? More Ponzi schemes. So he announces we just did the biggest deal with Delcy Rodriguez, the authoritarian leader of Venezuela, who was part of the Maduro regime. Donald Trump says we'll have access to 65 billion barrels of oil. It's going to bring gas prices down. No, it isn't. You still have to extract it and refine it and build infrastructure. And because most American oil companies believe Venezuela is still uninvestable, Donald Trump wants to create a United States government company without congressional approval, which is illegal.
3:14Ben Meiselas:and to do some JV with a guy named Alejandro Betancourt in Venezuela, who was accused of stealing billions from the Venezuelan state when he was tasked with fixing the electricity problem there. And they're going to do some joint venture deal together that's going to funnel money where it's just going to take from the Venezuelan people. And the people of Venezuela realize it. It's blowing up in Donald Trump's face. U.S. oil deal denounced by both sides of Venezuelan politics, bringing the opposition and people who supported Delce Rodriguez together. Who would have thought that that's what Donald Trump did?
3:57Ben Meiselas:People are livid at this because it's clear, unadulterated United States pillaging the Venezuelan land. And also it's just fraud and it's phony and people who know even a little bit about oil, they know that the 65 billion barrels is probably an exaggerated number by multiples. And that this idea that private businesses are investing$100 billion is kind of made up and fabricated as well. And this is not going to deal with the oil crisis right now. And that's all Donald Trump wants to do. He wants to manipulate the paper price of crude when, if you look at what's happening in the strategic petroleum reserves in those salt caverns in Texas and in Louisiana and in that area, and if you look at what's happening in Cushing, Oklahoma, at one of kind of the main hubs of where our oil is distributed through, you're seeing catastrophic situations because the Strait of Hormuz is closed right now and we're seeing supply shock that is hurting and crippling oil supplies.
5:12Ben Meiselas:You know, I just saw TankTrackers and they do a very good job kind of covering all of this. And they say that there's about 3.9 million barrels per day at TankTrackers.com. They cover this very well. About 3.8 million barrels per day. It's getting out of the Strait of Hormuz. When the memorandum of understanding was in effect for that short period of time. You had closer to 9.8 million barrels per day before the catastrophic war started. You had closer to 20 million barrels per day. So when the Trump regime says, we're bringing out all this oil like you've never seen before, it's better than pre-war.
5:55Ben Meiselas:It's all phony. And this Venezuelan land grab, whatever you even want to call it, is a market manipulation scheme more than anything. And it's just pissing everybody off. But that's what Donald Trump does. At the same time, you have Susan Collins, the Republican senator from Maine. She wrote a strongly worded letter to Howard Lutnick, Donald Trump's commerce secretary, and Jameson Greer, Donald Trump's trade representative, asking the Trump regime to restart trade negotiations with Canada because Maine is getting hurt badly. A lot of the United States is getting hurt very badly as a result of Donald Trump's attack and trade war against Canada and Donald Trump's behavior.
6:43Ben Meiselas:And Maine, given its proximity to Canada, is particularly suffering. Same thing with Michigan, but all of the United States suffers from this and no Americans want this. It's just the sicko Donald Trump and Trump regime, these predators who cover up the Epstein files who push this crap. So Susan Collins says to Donald Trump in this letter and to the Trump regime, the consequences of Canada's retaliatory tariffs are severe for main business, including our heritage industries. Troy Jackson, who's running for that Senate seat, the Democratic candidate says, oh, look, another strongly worded letter.
7:21Ben Meiselas:Give me a break. When Susan Collins had the chance to actually vote to stop Trump's tariffs from driving up costs for Maine families and businesses, she voted no. Mainers don't need more fake concern. And so what did Donald Trump do after Susan Collins sent that letter? More posts like this, Lake America, just weird maps. And then he posts this video over here. Lake America protected by Donald Ducks. And he posts this weird video. I mean, how deranged do you have to be? What a lunatic you are that as the American people are suffering. This is making your own people suffer too. Your attack on Canada.
8:03Ben Meiselas:Gas record highs. And by the way, while you're doing all of these like fraudulent, phony, and horrific deals with Venezuela as well, which also infringes on their sovereignty. You know who has huge amounts of crude that's already connected with pipelines and it's already connected with infrastructure here in the United States. Do you know who it is? You may also want to look at that Venezuela crude also, Donald. I know you don't understand the difference between sweet and sour crude and viscous, dense crude versus the kind of smoother, sweeter crude they have in the Middle East. I know you don't understand the way salt caverns work.
8:41Ben Meiselas:You don't understand the way Cushing, Oklahoma works. I know you just want to meme, but you may want to just learn a little bit how difficult it is to even try to refine that Venezuelan oil. And again, it's going to be your company with this Bentecourt guy. It's going to be you and Bentecourt. You're going to do your socialism for oligarchs here and build your own company because ExxonMobil ain't doing this. um conico phillips ain't doing this any event here's what donald trump did after uh susan collins sent that letter he posts this video lake america protected by donald ducks here play this clip then he posts this deranged video over here um replacing the lake ontario sign with a Lake America sign.
9:35Ben Meiselas:Let's play it.
9:46Ben Meiselas:Meanwhile, Canada's Ontario Premier, Doug Ford, posted the following video. Let's play this clip. I'm here on the shores of beautiful Lake Ontario, a crown jewel of our province and our country. You may have heard that President Trump is trying to rename this lake, all because he doesn't like Ontario and Canada standing up for ourselves. But let's be serious. Long before President Trump, this lake was called Lake Ontario. And long after President Trump is gone, it will still be called Lake Ontario. But just in case President Trump or anyone else forgets, we've set up the sign to remind them it's Lake Ontario now and forever.
10:33Ben Meiselas:Now, back in the United States with leaders who actually care about their people, you have New York City Mayor Mamdani posting the following video over here. Let's play this clip. Right here. OK, so we're over there. I won't. I won't. I won't. I promise.
10:59I am the mayor. You're right. I just haven't heard it said like that.
11:07I'm happy as the mayor. Jalen Brunson is the king.
11:15Ben Meiselas:In Illinois, you have their governor Pritzker giving this speech. I thought it was a very powerful speech. Let's play it. Gas prices are high. Why? Because Donald Trump took us to war in Iran and Venezuela. Meat and fruit and beer and cars cost more today than they ever have. Why? Because Trump insisted on imposing tariffs and going into trade wars. Farms are going under and businesses tied to those farms are laying off workers because President Trump started a trade war that had no greater purpose than a few cable news hits. More from Governor Pritzker right here. But, you know, they're trying to divide us.
11:58these days it seems like all the pundits and the naysayers they want to say well kind of an endless loop of debate about the future of the democratic party are we socialists are we moderates are we conservatives they want to divide all of us look i don't think we should draw these false and rigid divisions and paint a picture of a fractured party because it's not true. We have a fight that we are in together. Yeah, there are some differences of opinion, but they're not so big. And I got to tell you, if there's a divide in the National Democratic Party, then it's the one between team fight and team cave.
12:44Ben Meiselas:And I'll play you this clip from Governor Pritzker as well. And right now in this country, we are being lied to every single day. So here's the truth, plain and simple. Our state is under siege. Not by protesters, not by immigrants, not by the deep state, not by the press, not by Canada or Mexico or Greenland. Not by Antifa or by Jewish space lasers or pride parades. No, no. Our state is under siege by a petty, corrupt man in Washington. A man who ran for president because he wanted to live in a palace and get rich or get richer. Our state is under siege by the skilled sycophants who surround that president and use his base desires as cover for their own destructive agendas.
13:49Our state is under siege by the many, many Republicans who are either too infatuated or too frightened to fight Donald Trump for the people they serve. And I mean Republicans like Darren Bailey. You can be a lot of things and still be an effective governor, but one thing you cannot be is a coward.
14:13Ben Meiselas:I found this noteworthy MAGA Republican Congresswoman Maria Elvira Salazar represents a large Venezuela community in South Florida. She's the one who always says, I've done my dignity act. Donald Trump's going to treat you all with dignity. And she said, I promise you, Donald Trump, this is all about democracy in Venezuela. That's what this is all about. She was a news host. I mean, in my opinion, she's just a total phony as well. I mean, I think in a lot of people's opinion, she promised people, Donald Trump's not going to hurt you, Donald Trump's. He's going to make sure everybody is OK. I'll show you what she said, by the way, before Donald Trump took office about what he promised her about immigration policy.
14:57Ben Meiselas:But here's what she posted yesterday. Any oil deal with Venezuela's interim regime has an expiration date, the day President Trump leaves the White House. Venezuela's acting dictator is just buying time. The regime has stolen America's investments before, and it will do it again the moment it can. A lasting deal can only be made with a democratically elected government that respects the rule of law. So she came out against the horrific deal, right? Then someone from the White House called her. She got a call from Donald Trump, and then she posted the following. The U.S.-Venezuela oil deal is a great deal for the United States and the Venezuelan people.
15:37Ben Meiselas:For years, China took advantage of Venezuela's weakness to buy its oil at deep discounts. Now America is stepping in. And American investment and influence offer Venezuela a path towards prosperity, stability, and security. Really? I mean, what a fraud she is, in my opinion. How phony. By the way, in terms of the actual production capacity in Venezuela, same as last year, this year, there's a Qatari account that Donald Trump set up where billions of dollars is being funneled to. Who even knows who has acted? Other than Donald Trump, what the hell's happening with that Qatari account where this money is being routed to?
16:16Ben Meiselas:This again is a mafioso Donald Trump cartel scheme to enrich Donald Trump. He's screwing over the Venezuelan people. It's obvious what's happening here. And the thing about it too is it's evil, but it's also phony and it's also a fraud. Like it's a double whammy, right? It's intention if executed is cruel and the worst form of imperialistic exploitation and conquest and all of these horrible things. If you did it. But then also it's BS. There's 65 billion barrels that, okay, good luck getting it. Which companies? There's$100 billion of private business investment. Okay, which businesses are going to be investing?
17:08Ben Meiselas:It's going to bring$220 billion of tax revenue to Venezuela. So what? At the current price of oil, Venezuela will get like three bucks per barrel of oil. Like what? Like less than 4%, 3 % will go to Venezuela. That's a good deal to you. And so it's not even happening either. and it doesn't address the issue of crude, of the price of gas and the price of diesel right now, which the refinery, you know, when we talk about the crack spread, the difference between the refinery prices and crude, right? You have the crude, right? So you have crude, you have sweet crude, you have sour crude, you have different crude from different areas.
17:52Ben Meiselas:It has to be refined. Why? It needs to be refined into the oil that you fill your car up with or the diesel that you use for frayed or jet fuel that's used, right? You have to refine it. The refinery costs are at like record highs and that crack spread, the delta and difference between the price of crude, the paper price of crude, and the refinery price is at record highs right now. And that's why we're all paying so much for gas and so much for diesel. And it's why all these prices are going up. And this Venezuela thing is just a market manipulation scheme. I'm gonna do a video in a little bit that Trump's bringing.
18:30Ben Meiselas:He's ordering all of the refiners to show up to the White House on Tuesday where they're gonna try to manipulate the market as well because Donald Trump behaves like a communist. So that's what's gonna happen on Tuesday. But I want you all to pay attention. I want this Midas community to be the best educated community out there. I want us to be fortified with our knowledge. I don't do this yelling crap of the split screens where people yell at each other. on these cable news networks. Screw that. I want to learn with you about all of these important things so we can talk to our family members and we can talk to people we know in the community and call out this fraud, okay?
19:12Ben Meiselas:That's what this is about. We're in it together. We're in it together. Pre-order WTF America, the book I wrote with my brothers. It comes out October 20th. The pre-orders are so important now though. So you can Google WTF America. I'll put a link in the description below. We'll put up the QR code also. Thank you so much. Keep checking in with these videos throughout the day. Thank you all so much. I'm thinking about you. We're fighting for your heart. Hey, if you want the full story, how democracy got here and how we take it back, pre-order our new book, WTF America today. Just scan the QR code or click the link in the description.
19:48Ben Meiselas:Let's do this.
19:59Thank you.
From the publisher
MeidasTouch host Ben Meiselas reports on Donald Trump making things so much worse for himself as his plans continue to backfire, his problems pile up, and his bizarre behavior and attacks on Canada expose just how badly things are unraveling around him. Meiselas also reports on Trump's Venezuela plan already being despised by everyone in Venezuela as well as here in the United States.
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