Bill O’Reilly’s No Spin News and Analysis

Episode: The O'Reilly Update, January 5, 2026
Host: Bill O'Reilly (with Mike Slater filling in)
Date: January 5, 2026

Overview

This episode centers on dramatic recent news: the U.S.-led capture of Venezuelan President Nicolás Maduro. Mike Slater, filling in for Bill O’Reilly, provides analysis of the operation, its geopolitical implications, international reactions, and a detailed look at Venezuela’s oil reserves and their significance to American interests.

Key Discussion Points and Insights

1. Operation to Capture Nicolás Maduro

• Event Summary:
  U.S.-led forces successfully captured Maduro and his wife in Venezuela with extensive military coordination, including airstrikes and raids on multiple Venezuelan military sites.

• US Military Involvement:

  • 150 American aircraft provided cover for helicopter operations.
  • Strikes destroyed missile systems, communications, and depots.
  • The operation was carefully rehearsed in a replica of the Venezuelan presidential compound, reminiscent of the Osama bin Laden raid (“our guys trained with massive blowtorches...in case they had to cut through steel walls and in Maduro's safe room.” - Mike Slater, 01:28).

• Maduro’s Legal Troubles:
  Maduro faces four federal counts in Manhattan: narco-terrorism conspiracy, cocaine importation conspiracy, possession, and conspiracy to possess machine guns and destructive devices.

  “As early as August, the CIA sent a small unit into Venezuela with the goal of providing extraordinary insight…into Maduro's movements.” — Mike Slater, 00:55

2. International Reactions

• Denmark’s Objection:
  The Danish prime minister told President Trump to stop threatening to annex Greenland, after a social media post showed an American flag over Greenland (01:30).
• European Military Action:
  British and French warplanes led a strike against ISIS in Syria, destroying a weapons storage site (01:44).

3. Second Amendment Win in California

• Court Ruling:
  The Ninth Circuit ruled California’s law prohibiting open carry in populated counties unconstitutional.
  • Only counties under 200,000 population were previously allowed open carry, which the court found inconsistent with the Second Amendment (02:00).
  • “There's nothing in the Second Amendment about only applying in rural areas.” — Mike Slater quoting the decision, 02:15

4. Media and Political Commentary

• Reaction to the Operation:

  • Slater highlights past media skepticism of Trump’s intentions with Maduro, recalling 2019 claims that Trump’s approach showed him as "Putin’s puppet."

    “Trump likes Maduro because Trump gets along with thugs and strongmen around the world. Oh, now what?” — Mike Slater, 03:36

  • Liberal critics allege the operation violated international law and was motivated by oil, echoing anti-war protests from the Iraq era.

  • Slater dismisses international law as “pointless and fake,” arguing it is often designed to limit America.

    “International law has always been written to neuter America.” — Mike Slater, 04:08

  • He contrasts this operation with the Iraq War, emphasizing its swift success and lack of U.S. casualties, calling it an example of “what leadership looks like” (05:45).

5. Analysis of Venezuela’s Oil Reserves

• Economic Value:

  • Venezuela hosts the world's largest proven oil reserves — 300 billion barrels, worth $18 trillion.
  • This sum equals nearly the entire GDP of China, or half the U.S. national debt.

    “$18 trillion is almost the entire GDP of China. Germany has the third highest GDP at 5 trillion. And the value of oil reserves of Venezuela is 18 trillion.” — Mike Slater, 07:10

• Ownership Debate:

  • Slater, echoing JD Vance, argues the oil is essentially “ours,” referencing U.S. and Western companies' original development and Venezuela’s nationalization in 1976.

    “Are we just supposed to allow a communist to steal our stuff in our hemisphere and do nothing? Great powers don’t act like that. This is our oil.” — Mike Slater quoting JD Vance, 08:07

• Historical Context:

  • Oil in Venezuela was discovered by foreign (mainly American and British-Dutch) companies.

  • Venezuela expropriated oil assets from 21 private companies in 1976, a move Slater sees as theft (“we just let them”).

  • Slater juxtaposes the current action with the U.S. failure to claim Iraq’s oil after the war, suggesting this time “we will” use it to benefit the U.S. economy.

    “Trump said...‘we’re going to have our very large United States oil companies...go in, spend billions of dollars, fix the badly broken infrastructure and start making money for our country.’ Of course we should.” — Mike Slater quoting Trump, 09:45

6. The Case for U.S. Involvement and American First Principles

• Slater frames the military action as a defense of American interests and security:

  "Regaining control of our hemisphere to make sure that everything operating in it is in the best interest of our country...it's the definition of America first." — Mike Slater, 06:28

• He criticizes historical hesitancy and claims decisive leadership is vital for American strength and prosperity.

Notable Quotes & Memorable Moments

• “Those aircraft we now believe struck surface to air missile systems, communications antennas and at least two buildings that appeared to be storage depots.”
  — Mike Slater, 00:22

• “Experts warned we just blew up that air defense network and then the helicopters waltzed right in. So experts wrong. Yet again.” — Mike Slater, 03:57

• “The law that the 9th Circuit just said was unconstitutional, banned open carry in urban areas, which is where 95% of the people of California live.” — Mike Slater, 02:15

• “International law has always been written to neuter America. It has made us weaker to the point where Iran, Russia, Hezbollah and China were operating out of Venezuela to kill Americans launching from our own hemisphere. Our president wasn't going to allow that to happen anymore.” — Mike Slater, 04:17

• “Well done to everyone in our military who was a part of this operation. And also, this is what leadership looks like. We have forgotten what strong leadership can bring.” — Mike Slater, 06:00

• “As one Venezuelan fella said to those who say that the United States is only interested in oil, I asked those people, what do you think the Russians and the Chinese wanted? The recipe for tacos?” — Mike Slater, 10:20

Timestamps for Important Segments

• 00:09 — Headlines and summary of U.S. military operation in Venezuela
• 01:28 — Details on the military strike and capture of Maduro
• 02:00 — California open carry law overturned by appeals court
• 03:25 — Mike Slater’s “Message of the Day”: Operation Maduro and media spin
• 04:08 — Dismissal of international law concerns
• 05:40 — Comparison to Iraq, praise for U.S. military success
• 06:28 — Framing the operation as “America first”
• 07:09 — Deep dive into Venezuelan oil reserves
• 09:45 — Trump’s plan for U.S. oil companies in Venezuela
• 10:20 — Quip about Russian, Chinese interests in Venezuelan oil

Summary Tone

The episode conveys assertive, patriotic, and critical perspectives of both opposition media and international law, while championing decisive American action and interests. Speaker tone is bold, occasionally humorous (“recipe for tacos?”), and unfiltered in its advocacy for U.S. power and prosperity.

Conclusion

This episode provides a detailed, unapologetic analysis of the U.S. capture of Nicolás Maduro, positioning it as a defining moment of American strength, strategic interest, and “America first” leadership. Slater, channeling O’Reilly’s ethos, dismisses critics and emphasizes the operation’s strategic, legal, and economic justification, especially regarding Venezuela’s valuable oil resources. The commentary is rich with historical references, contemporary critiques, and a firm stance on the significance of assertive leadership in safeguarding American interests.