James Thompson

With me today, as always, it's my Chanticleer colleague.

He's blown more smoke than the Geelong refinery this week.

It's Anthony McDonald.

How are you, Anthony?

Smouldering, James.

We have lots to talk about this week.

We sure do.

Well, this week we get the first solid signs of Australia's economy rolling over.

We pick over the billionaire family battle for the Pilbara's iron ore riches and consider how this year's oil shock is different to the ones before it.

But Anthony, let's start in the world of oil.

And I woke up on Thursday morning, which was my first day back in the country.

Thanks to you for filling in the big seat last week.

Welcome back.

Thank you.

To the news that no Australian driver wanted to hear.

The Geelong refinery was on fire.

It burned.

It's still smouldering today on Friday morning.

Gasoline production's been halted and avgas and diesel production have been seriously slowed.

Anthony, the Geelong refinery produces roughly half of Victoria's fuel supply, about 10% of the fuel supply nationally.