Donald Trump secures a $16 million defamation settlement against CBS News over alleged election interference regarding Kamala Harris and Israel, establishing a precedent for mandatory interview transcripts. While FCC Chairman Brandon Carr clarifies this legal victory is unrelated to Paramount's potential sale to Skydance, critics warn the payment resembles a bribe amidst leadership turmoil. The broadcast then pivots to energy independence, where Ed Kovalik argues U.S. fracking produces cleaner oil than foreign rivals, urging production expansion against ESG-driven restrictions as China and India increase consumption. Ultimately, these segments highlight corporate legal vulnerabilities and the contentious debate over American fossil fuel dominance. [Automatically generated summary]
Transcriber: CohereLabs/cohere-transcribe-03-2026, Qwen/Qwen3-ForcedAligner-0.6B, sat-12l-sm, and large-v3-turbo
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CBS Caves to Trump00:04:13
CBS News parent company Paramount is now caving to Donald Trump.
They're paying $16 million, just like ABC.
$16 million to settle that 60 Minutes lawsuit because the president said, basically, you guys are trying to manipulate the election by manipulating Kamala Harris.
We don't need to go back and listen to it.
I've played it so many times, it's practically ingrained in my head.
And if you are not familiar with it, I encourage you to go and look at one of the 60 Minutes chapters we did.
But anyway, she effectively had this word salad answer when she was asked about Netanyahu and Israel.
And then somehow, miraculously, by the time the real segment aired on Sunday night, they made the mistake of airing the raw tape on Face the Nation that morning.
And then by Sunday night, it was all cleaned up and pretty.
And what do you know?
She sounded like she actually made sense.
But you know, it was Kamala.
She couldn't possibly have made sense.
She rarely makes sense on anything.
So, Kamala Harris getting exposed rather brilliantly by CBS itself.
Like they didn't intend to, but they had her on Face the Nation.
And then the next thing you know, right, she's on.
60 minutes sounding very, very different.
So Donald Trump said, hey, you can't do that because this is interference, if you would, in the election.
You are CBS, you're 60 minutes.
You got to actually have some responsibility to present things fairly and clearly.
So as a result of this, not only are they paying the 16 million for his library plus the legal fees, they're actually going to now have a new precedent.
They're going to release written transcripts.
I'd kind of like the actual video, just saying.
But they're going to have to actually release all of the transcripts for presidential candidates going forward.
And so that's a good thing.
That is actually a win for America because, in the interest of transparency, we don't need CBS News buttoning things up and trying to make Kamala Harris seem like she's a PhD in nuclear science.
No, no, no.
That would be Elon who's got that, right?
Brandon Carr, the FCC chairman, has said the president's lawsuit, meanwhile, Is not in any way linked to Paramount's deal with Skydance.
So don't forget, in the backdrop, right, you have CBS News, which is really faltering, and it wanted to sell itself and the entire company, Paramount, to Skydance, which is owned by Larry Ellison's son.
And so they were going to do this big deal.
It was going to put like $9 billion in the pocket of the head of Paramount, Redstone.
So Sherry Redstone's like, I want this, I want this, I want this.
And can't you guys just figure it out with Trump?
And so then it became, oh gosh, well, if we figure it out with Trump and we give him some money, does it make it look like it's a bribe?
Well, that's what the left is saying.
So this company is damned if it does and damned if it doesn't.
So my sort of moral of the story is here that CBS is kind of screwed.
So we wish them all the luck in the world.
But now they have to deal with Elizabeth Warren out of Massachusetts, as well as Bernie Sanders out of Vermont saying that any payment, any payment at all to Paramount would be considered a bribe because they have to get this FCC approval.
Wow.
I mean, it's a stretch.
It's a stretch, but I just kind of find it amusing because poor CBS, no matter what it does, is still up a creek without a paddle.
Kind of a fall, if you would, for the Tiffany Network.
I mean, they've lost the EP of 60 Minutes.
No big loss.
They have lost the president of the news division.
Again, no big loss.
And now they're in a situation where they're going to be taken over, likely, by Skydance.
And here you go.
Here's the kicker Skydance has a group that wants to run CBS and kind of make it into the new great.
thing for the internet age.
Good luck.
And it's Jeff Sucker's group.
Talking about six degrees of separation.
Yeah.
They're putting Jeff Sucker's group in charge of it all.
And the guy who used to run NBC, another Jeff, in charge of CBS.
So I don't think you're going to see enough change that's really going to help one CBS.
Fossil Fuels Fuel Independence00:09:50
What do you guys think?
Probably not.
Probably not.
Well, we wish them well.
And, you know, anytime you're up against Elizabeth Warren, I guess I kind of feel for you.
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Meanwhile, as we look at this market, we just published a new note over at 76 Research looking at all the tremendous winning we got going on.
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So, hey, you know, that's all you're really going to be out.
Take a look at those names, though, because I think there's a lot that you can use.
And I try to make sure that we're writing it in a way that's digestible and entertaining and exciting for all of you, especially if you haven't invested before.
I was actually with one of my girlfriends last night and we were talking about this because she is trying to invest.
And she's like, I don't even know where to begin.
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You know, the markets have been on a tear, as we've said, right?
Since April, it's been wonderful, wonderful, wonderful stuff to see.
We've had oil.
declining a lot.
It's actually moving up a little bit today, which is, I guess, good because this is a bet on the optimism for the American economy, right?
Well, I sat down with the Prairie Operating Group CEO to ask him a little bit about this just moments ago and get his thoughts, not just on where oil is heading, but this winning, right, for the American energy sector because it is so important.
I know it's going to bad name with ESG stuff.
You know, you go, we hate fossil fuels, et cetera.
It's not all bad.
And I think Ed does a really good job of explaining this.
This industry, it matters.
And we need to think about that, right?
When we're thinking about policy and supporting what works here at home, more winning.
Joining me right now is the CEO of Prairie Operating Group, Ed Kovalik.
Ed, good to have you on the show.
Hey, it's great to be with you.
I'm watching oil, right?
It's kind of doing the antithesis, if you would, of what I thought it would do, but that's good.
I mean, I'm like, you know, this is winning, winning, winning, winning because oil prices are coming down, which I imagine is going to be really good news for the U.S. economy.
Yeah, you know, I think oil prices are already pretty low, historically speaking, just in the context of where they've been in the past since the advent of shale, for instance, and taking inflation into account.
So, not Quite sure how much cheaper they're going to go, but they're at a pretty healthy level for the economy.
One of the things I love that you guys have sort of undertaken is this campaign to educate Americans and the world, frankly, on fossil fuels are not that bad.
I know that the ESG environment wanted you to think so.
I know that you weren't supposed to invest in them.
I know it was like totally taboo.
But the reality is, if we didn't have them, can you imagine what the world would look like?
No, I can't because it would be pretty horrible.
And I mean, it's almost blackhearted to think about what it would be like because half of the world's population probably couldn't survive.
You know, fossil fuels power all of our food systems and they power just our modern way of life.
And actually, half of the world doesn't really have access to inexpensive, abundant fossil fuels.
So, you know, the average home in the developing world uses as much energy as, you know, our refrigerator, for example, in an entire year.
So, can you imagine living like that?
No, no, I can't.
I mean, look, I'm all for, you know, whatever.
You can be more conscious of things.
My husband gets mad because, you know, me and the kids were terrible.
We'll leave the lights on right all over the house.
He's like, for goodness sakes, you're just, you know, just throwing money out the window.
And there are other cultures that are certainly better maybe than Americans at being more cognizant of it.
But, you know, I don't think it's fair to just sort of tar and feather the entire industry.
And that was going on for a while.
I know it's partly why you started this company.
It's partly why I started my financial research firm because we wanted to be anti ESG over at 76 Research.
I just, you know, when you get to the point where you are not able to invest in certain things that are huge opportunities because somebody else from up on high is saying it's bad, I think, you know, you're reaching a breaking point.
And that, as I understand it, was a part of your experience?
Absolutely.
100%.
You know, I think that fossil fuels have been incredibly demonized really over the last five to 10 years.
Fossil fuels.
Really, power most of our electricity systems.
And then they're in everything that we use in the makeup that you're wearing and the surfboard that I ride.
I mean, pretty much everything in our life is some way, shape, or form made with fossil fuels.
So, this false narrative and the demonization of our energy system is really dangerous.
I was so proud years back that America had become energy independent.
And I thought it was such a tremendous accomplishment.
And then over the last four years, again, during this demonization process, it was like, no, no, no, we don't want to.
And it's like, why wouldn't we want that, right?
Because one, it's economic security.
And two, it's national, international security, right?
You know, foreign affairs security.
We don't have to be so reliant on the Middle East.
Hey, if we got it at home, why not?
Absolutely.
I mean, the entire world operates based on energy security.
And so the idea that we somehow shouldn't is, again, a really dangerous idea.
But we only became energy independent because one of the great things about our country and our culture is that we're tremendous innovators.
And innovation didn't spare oil and gas.
It's in fact what allowed us to be energy independent.
You know, when you look at what companies like ours do in terms of drilling shale, drilling horizontally, you know, we drill one mile down and then we drill two or three miles out horizontally, and we keep that drill bit within a six inch kind of area as we drill.
And what we're drilling through is hard rock.
And if I showed you a sample of that rock, You know, you'd think that what we do is alchemy, the fact that we can make oil out of rock.
But it's that innovation in fracking that's allowed us to do so and made this country energy independent.
It's amazing.
I remember traveling down to Venezuela to the Orinoco region, which is said to possibly rival Saudi Arabia for the oil reserves.
The problem is they didn't have the innovation or the technology to get the stuff out of the ground.
And Chavez kicked everyone out.
And so, you know, there was no way to take this very heavy tar like substance.
And literally, I remember like holding a coffee cup and like, turning it upside down and nothing would come out.
Um so again, it's that innovation of being able to get to it.
You have the innovation with your company to get to this shale, and it's it's kind of just an amazing thing.
But you know, what do you do when the whole world is sort of turning it away and shunning it and oh, we're not going to invest in this because Larry Fink doesn't like it.
That's all changed, though.
I mean, what?
What does that mean for you guys now?
I mean, given that you have an administration that's actually pro U.s energy, and I think people are coming around to the idea that you know technology is going to Help make all of this better and cheaper and more accessible and make the U.S. As a result of it, stronger.
No, I think it's a great time to be in the oil and gas industry for those reasons.
And, you know, as an industry, we're constantly striving to improve how we operate.
You know, at the end of the day, we in Colorado, for example, produce the cleanest molecule of oil anywhere in the world because we don't flare our gas, we put it all in pipe.
We've got extremely sophisticated methane reduction systems that we employ.
And so, you know, that's the kind of thing that we want to advocate for the rest of the world because guess what?
I mean, we all share one atmosphere.
We all live on one planet.
So the idea that we could somehow, you know, scale back or do away with oil and gas production in any one country, but China's building, you know, multiple coal plants every week and India's growing their population and doing the same, it's sheer insanity.
No, and I would just think that, look, you know that U.S. producers are going to do it better, smarter, cleaner, et cetera.
So therefore, wouldn't you want more U.S. production from that standpoint?
But anyway, thank you for being here and keep up the good fight, Ed.
I think you guys are doing a great job at educating everybody.
It's not all that bad.
No, no.
It really is.
Keeps us alive.
Keep Up The Good Fight00:01:59
Thanks for having me on the show, Push.
Really appreciate it.
Appreciate it.
Our thanks to Ed.
You can learn more, actually.
Let me make sure I put this up for you if you're interested at oilfacts.com.
More about the truth of our wonderful, amazing energy sector because we are going to win this.
We're winning, winning, winning, winning, right?
Right around the block.
76 Research.
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Um, I get some big news.
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Guys, like I don't know how it's happening, but you know what it shows, that you will build it and they will come.
I have been doing this show.
One of these days we're going to commit to the same time every day.
In the meantime, you've been very patient with me.
We're doing this show live, every single day and you have come and you have helped build something.
We are part of a movement.
I keep saying we're on the front lines of history.
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What a 10 days it has been.
What a year it has been.
And the success goes over to the Trish Regan Show as well.
We were just named again.
They come out with a list every Wednesday.
So it's always a little bit nerve-wracking.
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Here we are once again in the top 100.
So thank you for pushing the show and everything you do.
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Unc Andy, good to see you here again.
And I appreciate the comps.
David Lango, I'm seeing all the familiar faces.
It's wonderful.
We're building a real community here.
And I get a kick out of everything you guys write.
I do read them all, believe it or not.
And I respond to quite a few of them.
So thank you for all you do.
We're going to be back here live again tomorrow with a whole lot more news.