AAP Image/Mick Tsikas
You’re meant to tax things you want less of and subsidise things you want more of – yet Australian governments are handing out $16.3 billion in fossil fuel subsidies this financial year.
Elinor is back but Greg is away, so Matt Grudnoff jumps in to talk about Australia’s absurd fossil fuel subsidies, fuel security in the wake of the US-Israel war on Iran, and why the AI bubble will probably burst, even if the technology turns out to be a win overall.
This discussion was recorded on Thursday 12 March 2026.
What we owe the water: It’s time for a fossil fuel treaty by Kumi Naidoo, is available now for just $19.95. Use the code ‘PODVP’ at checkout to get free shipping.
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Host: Matt Grudnoff, Senior Economist, the Australia Institute // @mattgrudnoff
Host: Elinor Johnston-Leek, Senior Content Producer, the Australia Institute // @elinorjohnstonleek
Show notes:
Australian fossil fuel subsidies growing faster than NDIS, hitting $16.3 billion in 2025-26, the Australia Institute (March 2026)
New Analysis: Mid-East war’s hit to Australian economy, how to reduce its impact, the Australia Institute (March 2026)
Debugging the Productivity Commission’s claim that AI will boost Australia’s GDP by $116 Billion by Matt Saunders, The Point Live (March 2026)
Labor must stop juicing house prices and make buying a home the Australian dream – not negatively gearing one by Greg Jericho, Guardian Australia (March 2026)
Theme music: Blue Dot Sessions
We’d love to hear your feedback on this series, so send in your questions, comments or suggestions for future episodes to podcasts@australiainstitute.org.au.
New research shows fossil fuel subsidies will reach $16.3 billion in 2025–26, rising faster than the NDIS. Handouts to mining giants are growing faster than support for Australians with disability.
A sharp rebuke of Australia’s gas industry was delivered in Parliament overnight, as Labor MP for Chifley, Ed Husic, accused major exporters of putting profits ahead of the public interest and called for a stronger national approach to managing the country’s gas resources.
New research has revealed that Australian governments are providing the equivalent of $31,020 a minute in fossil fuel subsidies as households continue to struggle with rising petrol and electricity prices.
