Anthony McDonald

The pre-war shipments haven't even finished yet.

They're due to finish this weekend.

So we don't have the actual supply shortage yet.

But, you know, there's a headline this morning, James, you know, Albanese secures another 100 million litres of diesel out of Brunei, which is great.

And 100 million litres sounds like a lot, and it's a lot in the context of most people's consumption.

But, you know, Fortescue, for example, 100 million litres, that's like six weeks' worth of what it needs.

And, like, Fortescue's our third biggest miner.

We've got these huge industrial users that rely on the stuff.

Our stomach for diesel, petrol, aviation fuel, it's huge, you know.

We consume a stack of it.

And, James, I did think of you earlier this week.

Populist PM Viktor Orban of Hungary, mates with Donald Trump and Vladimir Putin, was rolled for the first time in five elections, having held office since 2010 and become a pin-up of the populist right since

Now, James, we don't talk about hungry politics much here on the Chookpod, but your mate, Victor Schwetz from Macquarie, a strategist there who you follow closely, and he's got some great ideas on politics and markets and how it all intersects.

He said this could be a bit of a moment, and he said it shows that leaders cannot defy economics and be elected on culture wars and populist right policies forever.

Do you agree that this Hungary election is a bit of a moment?

Yeah, I agree with you.

So it's all about those prices.

But then in terms of the politics, it's like, what's the best way to put a lid on those prices?

Is it the shut the borders, protectionist type policies, trying to make yourself great again, re-industrialize the Western economy?

Or is it trying to embrace globalization like we in Australia have been doing for a long time?