Latest / The 47 Morning Update with Ben Ferguson / Trump’s Massive Supreme Court Win Keeps The Cranes Keep Moving
Transcript
- 0:00Speaker 1: Today's 5-4 decision is a big win for the president.
- 0:04Speaker 1: As the administration says, crews are working 20 hours a
- 0:06Speaker 1: day on the complex that includes both the ballroom and
- 0:10Speaker 1: those underground military installations. Well, the court had this to say.
- 0:14Speaker 1: It said it's not passing judgment on the legality of
- 0:17Speaker 1: the project, but it did hold that the plaintiff challenging
- 0:20Speaker 1: the ballroom project likely doesn't actually have the right to
- 0:23Speaker 1: sue the Trump administration over it.
- 0:25Speaker 2: You're listening to the 47 Morning Update with Ben Ferguson.
- 0:29Speaker 3: Good Tuesday morning. Nice to have you with us on
- 0:31Speaker 3: the 47 Morning Update. And we've got two big stories
- 0:34Speaker 3: for you. First up, a major win for the president
- 0:37Speaker 3: of the United States of America at the Supreme Court.
- 0:40Speaker 3: This time dealing with the ballroom, I'm not joking, that
- 0:44Speaker 3: he's redoing and building at the White House. So how
- 0:48Speaker 3: unhinged has the left become over this? It's amazing.
- 0:51Speaker 4: And we have it all for you. Up next, a big.
- 0:54Speaker 3: Announcement from the White House that can affect exactly what
- 0:57Speaker 3: you're paying at the pump. It also can affect our
- 1:00Speaker 3: national security for decades to come.
- 1:02Speaker 4: The biggest oil deal in history between the U.S. and Venezuela.
- 1:06Speaker 4: What's in it and what does it mean?
- 1:08Speaker 3: We break it down for you. Now, before we get
- 1:10Speaker 3: to that, the midterm elections, they're heating up. Congressional control
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- 2:46Speaker 4: It's the 47 Morning Update, and it starts right now.
- 2:50Speaker 2: Story number one.
- 2:51Speaker 3: The Supreme Court handed Donald Trump a major win. And
- 2:55Speaker 3: it was not just a big win for him in general.
- 2:58Speaker 3: It was also a personal win after the harassment by
- 3:01Speaker 3: so many on the left. The White House ballroom can
- 3:05Speaker 3: now move forward yet again. Proving that when the people
- 3:09Speaker 3: actually decide who they want their president to be, that individual,
- 3:13Speaker 3: whether it's Republican or Democrat, should be able to do
- 3:15Speaker 3: what they need to do as president. Donald Trump not
- 3:19Speaker 3: only scoring this major victory at the Supreme Court, But
- 3:23Speaker 3: now it allows the president to move forward with that
- 3:26Speaker 3: White House ballroom that suffered a massive setback.
- 3:30Speaker 4: It was a 5-4 decision, and the.
- 3:32Speaker 3: Supreme Court ruled Monday that construction can continue on the
- 3:35Speaker 3: new White House ballroom and associated complex while, quote, the
- 3:40Speaker 3: legal battle plays out. Now, the decision blocks the lower
- 3:43Speaker 3: court rulings, and they were activist judges that would have
- 3:47Speaker 3: stopped the above-ground construction. And understand what that means practically.
- 3:52Speaker 3: The cranes keep moving. The workers keep building. The project,
- 3:57Speaker 3: it now keeps going forward. Now, the ballroom project is enormous.
- 4:01Speaker 3: It's about 90,000 square feet with an estimated price tag
- 4:05Speaker 3: that was originally around $ 400 million. The broader redevelopment also
- 4:08Speaker 3: includes significant underground military and security facilities, which are needed.
- 4:14Speaker 3: Trump has argued that the White House desperately not only
- 4:16Speaker 3: needed a permanent world-class space for major state events... rather
- 4:20Speaker 3: than repeatedly relying on temporary structures for large gatherings. Almost immediately,
- 4:26Speaker 3: the left and the opponents and the media, well, they
- 4:28Speaker 3: tried to stop him. The National Trust for Historic Preservation sued,
- 4:33Speaker 3: arguing that Trump did not have the authority as the
- 4:35Speaker 3: president to undertake a dramatic transformation of the White House complex.
- 4:40Speaker 3: without what they demanded, congressional approval.
- 4:43Speaker 4: Well, guess what? The Supreme Court said they were wrong. Now,
- 4:47Speaker 4: they did find success in the lower courts.
- 4:49Speaker 3: They found activist judges, and a federal district judge moved
- 4:53Speaker 3: to block the above-ground construction, and the D.C. Circuit upheld
- 4:56Speaker 3: that injunction as well. Now, had the Supreme Court not intervened,
- 5:01Speaker 3: construction would have faced a major shutdown. Here is how
- 5:04Speaker 3: Fox News described the news as it broke.
- 5:08Speaker 6: As mentioned at the top, breaking tonight, a divided Supreme
- 5:10Speaker 6: Court allows the White House to continue construction on its
- 5:13Speaker 6: $ 400 million ballroom project as lawsuits play out. The president
- 5:18Speaker 6: posted news about that a short time ago, calling the
- 5:21Speaker 6: project part of the golden age of America. Fox News
- 5:24Speaker 6: chief legal correspondent, anchor of Fox News Sunday, Shannon Bream,
- 5:27Speaker 6: has details tonight.
- 5:28Speaker 1: Good evening, Shannon. Good evening, Brett. Well, today's 5-4 decision
- 5:31Speaker 1: is a big win for the president. As the administration says,
- 5:34Speaker 1: crews are working 20 hours a day on the complex
- 5:37Speaker 1: that includes both the ballroom and those underground military installations. Well,
- 5:42Speaker 1: the court had this to say. It said it's not
- 5:44Speaker 1: passing judgment on the legality of the project, but it
- 5:47Speaker 1: did hold that the plaintiff challenging the ballroom project likely
- 5:51Speaker 1: doesn't actually have the right to sue the Trump administration
- 5:54Speaker 1: over it. Quote, we conclude only that based on the
- 5:57Speaker 1: submissions before us, the government is likely to prevail in
- 6:00Speaker 1: showing that the National Trust for Historic Preservation in the
- 6:03Speaker 1: United States lacks Article 3 standing to challenge the project
- 6:07Speaker 1: in federal court. But the dissenters, and this is an
- 6:10Speaker 1: interesting lineup, they were led by Chief Justice Roberts, included
- 6:13Speaker 1: Justices Sotomayor, Kagan, and Jackson. They argue that the National
- 6:18Speaker 1: Trust Executive Committee member, Alison Hoagland, does have standing, quote,
- 6:23Speaker 1: given the distinctive nature of the White House and Hoagland's
- 6:26Speaker 1: focused and substantiated interest in viewing it in its traditional form,
- 6:30Speaker 1: her aesthetic injury from the construction of the ballroom is
- 6:34Speaker 1: concrete and particularized. Now, that doesn't mean the legal battle
- 6:38Speaker 1: over the ballroom is over, though, only that while the
- 6:41Speaker 1: fights play out, construction can continue.
- 6:45Speaker 3: Now, this is exactly why Democrats and the media, of course,
- 6:48Speaker 3: are livid this morning. The majority, by the way, made
- 6:52Speaker 3: a very important point. They said disagreement with what a
- 6:56Speaker 3: president is doing does not automatically give someone the legal
- 7:00Speaker 3: right to sue. The Supreme Court's majority concluded that the
- 7:04Speaker 3: National Trust likely doesn't have Article 3 standings. Now, what
- 7:08Speaker 3: does that mean in plain English? The court questioned whether
- 7:12Speaker 3: this organization has suffered the kind of concrete personal injury
- 7:17Speaker 3: necessary to bring this lawsuit in federal court in the
- 7:20Speaker 3: first place. And as the court put it, quote, mere offense,
- 7:24Speaker 3: disagreement or distaste for a project does not amount to
- 7:28Speaker 3: the concrete injury required for standing in the court. Now,
- 7:32Speaker 3: that is significant far beyond this ballroom, because the argument
- 7:36Speaker 3: from the administration is essentially this. You cannot simply turn
- 7:41Speaker 3: the federal judiciary into a political veto whenever an advocacy
- 7:45Speaker 3: organization disagrees with a president's decision. That is good news,
- 7:50Speaker 3: by the way, for this president and future presidents, by
- 7:53Speaker 3: the way. And the Supreme Court's majority concluded that the
- 7:56Speaker 3: government is likely to prevail on its argument. and that
- 8:00Speaker 3: the National Trust doesn't have the standing to challenge the
- 8:03Speaker 3: project like they've been claiming. Now, there's also an important
- 8:06Speaker 3: legal distinction here. The Supreme Court did not rule that
- 8:10Speaker 3: every aspect of Trump's ballroom project is definitely or definitively legal.
- 8:16Speaker 3: The majority specifically said it was not deciding the ultimate
- 8:20Speaker 3: legality of the East Wing project. It ruled on the
- 8:23Speaker 3: standing question that the government's request to keep construction going
- 8:27Speaker 3: while litigation continues.
- 8:29Speaker 4: is something they said yes to.
- 8:31Speaker 3: And that is the reason why this matters so much,
- 8:34Speaker 3: because time is really what this is about. There is
- 8:38Speaker 3: now time for the president to do what he needs
- 8:40Speaker 3: to do. Construction is already underway. The administration has argued
- 8:44Speaker 3: that stopping a massive construction project in the middle of
- 8:47Speaker 3: the process would would impose not only serious costs and
- 8:51Speaker 3: interfere with security related work connected to the broader complex.
- 8:55Speaker 3: And the Supreme Court agreed that the government's interests favored
- 8:59Speaker 3: allowing the work to continue. Now, this is exactly why,
- 9:03Speaker 3: by the way, the president immediately decided to celebrate. The
- 9:06Speaker 3: president said the project can now move ahead without the uncertainty.
- 9:10Speaker 3: that has surrounded it because of the radical left. And
- 9:13Speaker 3: when completed, he said, in the summer of 2028, the
- 9:16Speaker 3: ballroom and the military complex will be something the entire
- 9:19Speaker 3: country can be proud of. So congratulations to President Trump
- 9:24Speaker 3: for being able to actually be the president and do
- 9:26Speaker 3: something incredible for the American people at our White House.
- 9:30Speaker 2: Now, story number two.
- 9:32Speaker 3: President Trump is getting win after win right now, and
- 9:35Speaker 3: the Venezuelan oil deal is another example of it. The
- 9:38Speaker 3: White House calling it the biggest oil deal in history.
- 9:42Speaker 3: And not only could it be one of the most
- 9:44Speaker 3: consequential energy deals an American president has ever negotiated, but
- 9:49Speaker 3: it could mean falling prices for you. President Trump is
- 9:52Speaker 3: calling the new agreement with Venezuela the biggest oil deal
- 9:56Speaker 3: in the world.
- 9:57Speaker 4: And the White House released more of the details.
- 10:00Speaker 3: So here is what we know number one 65 billion
- 10:04Speaker 3: barrels of proven oil reserves that's the big number that
- 10:08Speaker 3: everyone needs to understand the white house says the agreement
- 10:11Speaker 3: gives the united states majority effective control over production tied
- 10:16Speaker 3: to more than the 65 321 tied to that 65
- 10:21Speaker 3: billion barrels of Venezuelan oil reserves. Now, to put that
- 10:25Speaker 3: in perspective, the White House says the United States currently
- 10:28Speaker 3: has roughly 46 billion barrels of proven territorial oil reserves
- 10:32Speaker 3: in the U.S., This is significantly larger than the U.S.
- 10:36Speaker 4: That is mind-blowing.
- 10:38Speaker 3: Now, we're also talking about access to an amount of
- 10:40Speaker 3: oil that actually is larger than not just our proven
- 10:44Speaker 3: oil reserves, but most of the world, according to the
- 10:47Speaker 3: White House. And the cost to the American taxpayer for
- 10:50Speaker 3: acquiring this position, you ready for this? As President Trump
- 10:54Speaker 3: described it, zero dollars. Now, to be clear why it's zero,
- 10:59Speaker 3: this is not America writing Venezuela a $ 100 billion check.
- 11:03Speaker 3: Private operator North American Blue Energy Partners is expected to
- 11:07Speaker 3: invest up to $ 100 billion rebuilding and expanding Venezuela's badly
- 11:12Speaker 3: deteriorated oil infrastructure. The agreement covers 17 Venezuelan oil fields
- 11:18Speaker 3: and gives the company development rights lasting 100 years. And
- 11:23Speaker 3: here's where this gets really interesting for America. The Pentagon's
- 11:27Speaker 3: Office of Strategic Capital gets a 35% equity stake in
- 11:31Speaker 3: the company's parent. The United States gets the guaranteed right
- 11:35Speaker 3: to purchase 20% of the production at cost. And the
- 11:40Speaker 3: State Department gets the right of first refusal to purchase
- 11:43Speaker 3: the remaining 80% of production.
- 11:46Speaker 4: Now, what does this mean?
- 11:48Speaker 3: Well, instead of the United States simply hoping that enough
- 11:51Speaker 3: oil reaches the world market during the next international crisis...
- 11:55Speaker 3: America has positioned itself to have preferential access to an
- 11:59Speaker 3: enormous supply of oil right here in the Western Hemisphere.
- 12:04Speaker 3: And that's a national security game changer. And that matters
- 12:07Speaker 3: even more than it has in recent years because of
- 12:10Speaker 3: what's happening right now with the war that we're dealing
- 12:13Speaker 3: with in Iran and the Strait of Hormuz. We've seen disruption.
- 12:17Speaker 3: We've seen supply chain uncertainty. We've seen what it's done
- 12:20Speaker 3: to the American taxpayer, to your pocketbook when you go
- 12:24Speaker 3: to the pump. American gasoline prices are above $ 4 a
- 12:28Speaker 3: gallon right now nationally. And Trump, well, he's looking south,
- 12:33Speaker 3: not towards the Middle East, not towards Iran, not towards Russia,
- 12:37Speaker 3: but towards Venezuela and saying there's an enormous supply of
- 12:40Speaker 3: energy in our own hemisphere. So let's develop it. This is,
- 12:45Speaker 3: by the way, just common sense foreign policy. Now, there's
- 12:48Speaker 3: another geopolitical component that shouldn't be overlooked as well. The
- 12:53Speaker 3: White House says some of these Venezuelan fields previously had
- 12:56Speaker 3: Russian or Chinese involvement. Now Washington is attempting to pull
- 13:01Speaker 3: a huge piece of Venezuela's energy future into America's economic
- 13:07Speaker 3: and strategic orbit. That's simply not an oil deal. That
- 13:11Speaker 3: is geopolitics on the biggest scale you can get. While
- 13:16Speaker 3: its own oil industry had just drastically deteriorated. Venezuela has
- 13:22Speaker 3: the largest proven oil reserves in the entire world, yet
- 13:25Speaker 3: today it produces only around 1.2 to 1.25 million barrels
- 13:30Speaker 3: per day, dramatically below its potential after years of underinvestment,
- 13:35Speaker 3: economic mismanagement and sanctions, and then just straight up corruption. Now,
- 13:41Speaker 3: Trump is making it pretty clear what his bet is.
- 13:44Speaker 3: If you bring in massive private investment, you bring in
- 13:48Speaker 3: real 2026 drilling rigs, you bring in American technology and
- 13:53Speaker 3: the expertise, you increase the production. Then you create a
- 13:57Speaker 3: reliable Western hemisphere supply and ultimately put downward pressure on
- 14:03Speaker 3: energy prices, which helps all of America. Now, the company
- 14:07Speaker 3: involved is reportedly planning a massive drilling campaign. They say
- 14:11Speaker 3: eventually drilling more than 50 drilling rigs as it attempts
- 14:15Speaker 3: to dramatically increase production from these fields. Now, I want
- 14:20Speaker 3: to be very clear about something else here. That does
- 14:22Speaker 3: not mean you're waking up tomorrow and you're going to
- 14:24Speaker 3: have $ 2 gasoline. Even President Trump has acknowledged today that
- 14:29Speaker 3: the lower prices from this deal could take some time.
- 14:33Speaker 3: Here's the president in his own words.
- 14:35Speaker 4: Venezuela deal.
- 14:36Speaker 1: Analysts predict it could take several years before the Venezuela oil.
- 14:41Speaker 7: Could be a little bit, but it's going to go fast.
- 14:43Speaker 7: It's going to go fast. When do you say fast?
- 14:44Speaker 2: When?
- 14:45Speaker 7: Well, because analysts predicted that a thing like this could
- 14:47Speaker 7: never happen, too. Nobody ever thought it was possible. Remember?
- 14:51Speaker 7: Russia was there. China was there. They're not there anymore,
- 14:55Speaker 7: are they? You know who's there? USA is there. It'll
- 15:00Speaker 7: go fast, much faster than what the analysts... They say
- 15:02Speaker 7: two years, three years. But if it was two years,
- 15:05Speaker 7: that's a you know, a short period of time. It's
- 15:08Speaker 7: hundreds of billions of dollars. It's actually trillions of dollars
- 15:11Speaker 7: we're talking about, trillions. And it'll come out as fast
- 15:16Speaker 7: as possible.
- 15:17Speaker 4: Now, even Vice President J.D.
- 15:19Speaker 3: Vance, as he was getting on his plane at Joint
- 15:22Speaker 3: Base Andrews, had this to say about the oil deal
- 15:25Speaker 3: with Venezuela.
- 15:26Speaker 8: On Venezuela, really quickly, with the deal for the $ 65
- 15:30Speaker 8: billion in reserve from Venezuelan oil, when will the U.S.
- 15:33Speaker 4: See the first barrels of oil from that deal?
- 15:36Speaker 8: I think importantly, we're actually already seeing significant increase in
- 15:39Speaker 8: oil production out of Venezuela, which is one of the
- 15:42Speaker 8: reasons why, despite a lot of people predicting that oil
- 15:44Speaker 8: prices would go to $ 200 a barrel, they're obviously higher
- 15:48Speaker 8: than they were a few months ago, but they're sort
- 15:50Speaker 8: of much more stable in part because of what we
- 15:53Speaker 8: see coming out of Venezuela. Look, I think that we
- 15:56Speaker 8: are going to see significant increase in production. The 65 billion.
- 16:00Speaker 4: Barrel reserve is a big part of that.
- 16:02Speaker 8: But I think it's a mistake to say, when will
- 16:04Speaker 8: we see increased production? Because we're already seeing increased production already.
- 16:08Speaker 4: So what does this mean for America?
- 16:11Speaker 3: What you're looking at from this White House is they're
- 16:13Speaker 3: looking beyond this week's gasoline prices. What you're hearing the
- 16:18Speaker 3: president and the vice president say is this. We're looking
- 16:20Speaker 3: at the next generation of American energy security programs. They
- 16:25Speaker 3: believe this is a national security issue. So imagine America
- 16:29Speaker 3: that has an enormous domestic energy resource. Canada to the north.
- 16:33Speaker 3: We've got oil coming in from them as well. Then
- 16:36Speaker 3: you've got preferential access to tens of billions of barrels
- 16:39Speaker 3: in Venezuela to the south. And imagine what that does
- 16:44Speaker 3: to the leverage of hostile oil producing countries in the
- 16:47Speaker 3: Middle East. That's a strategic argument that the Trump administration
- 16:51Speaker 3: is making. In essence, that's become the Trump doctrine when
- 16:54Speaker 3: it comes to oil production. Even the Secretary of State,
- 16:58Speaker 3: Marco Rubio, has called this a win-win, saying lower-cost oil
- 17:02Speaker 3: for America is a big deal. It also is bringing
- 17:05Speaker 3: potentially $ 100 billion in private investment to Venezuela. That helps
- 17:09Speaker 3: with that country's stability, so it doesn't fall into the
- 17:12Speaker 3: hands of Russia or China, owning basically what's happening there.
- 17:17Speaker 3: And it helps rebuild the devastating energy economy that is
- 17:22Speaker 3: desperately needed in Venezuela for the people to be freed. Now,
- 17:26Speaker 3: President Trump has said this is a big moment. He's
- 17:29Speaker 3: absolutely right. So when the White House calls this historic,
- 17:32Speaker 3: just look at the scale. Sixty five billion barrels, 17
- 17:36Speaker 3: oil fields, up to 100 billion in private investment, 100
- 17:40Speaker 3: year development agreement, a 35 percent Pentagon equity stake and
- 17:46Speaker 3: guaranteed American access to oil at cost. Now, this isn't
- 17:51Speaker 3: about next Tuesday. So this is not about, you know,
- 17:54Speaker 3: what the price is next week. It's about where America
- 17:58Speaker 3: gets its energy for the next several decades. And Trump's
- 18:02Speaker 3: argument is straightforward. Why should the United States remain vulnerable
- 18:07Speaker 3: to hostile regimes that are thousands of miles away when
- 18:11Speaker 3: some of the largest oil reserves on planet Earth are
- 18:13Speaker 3: sitting right here in our own hemisphere? That is why
- 18:17Speaker 3: this deal is incredible. It'll be very interesting to see
- 18:20Speaker 3: just how fast it becomes a reality.
- 18:23Speaker 2: Thank you for listening to the 47 Morning Update with
- 18:26Speaker 2: Ben Ferguson. Please make sure you hit subscribe. wherever you're
- 18:30Speaker 2: listening to this podcast right now. And for more in-depth news,
- 18:34Speaker 2: also subscribe to the Ben Ferguson Podcast, and we will
- 18:37Speaker 2: see you back here tomorrow.