Podcasts · The Karl Stefanovic Show

This Debate Gets HEATED: Gas, Tax & Who’'s Telling The Truth

1 May 2026 · 49 min · S1 E42

Karl sits down with Senator Susan McDonald and Konrad Benjamin in a no-holds-barred debate on Australia’s gas, taxes, and whether the country is getting ripped off.

Are we one of the richest nations in the world… or getting taken for a ride?

Konrad argues Australians are being short-changed — with billions in resources leaving the country and not enough coming back.

Susan says that’s simply not true — and warns changing the rules could cost jobs, investment, and future growth.

What follows is a raw, chaotic, and very real clash:Are gas companies paying their fair share?

Is Australia too soft in negotiations?

Should we copy Norway’s model?

Are politicians listening to lobbyists… or the public?

And what happens when people lose faith in the system?

At one point, it gets personal.

At another, they almost agree.

This is exactly the kind of debate Australia needs more of.Watch the full conversation and decide for yourself.Full episode now live.

00:00 Introductions and Setting the Stage

01:05 Tax Debate: Beer vs Gas Companies

03:00 Senate Showdown & Media Attention

05:00 The Role of Lobbyists and Cited Claims

08:00 Australia's Resource Wealth: Are We Missing Out?

12:00 Comparisons: Norway, Qatar and Tax Structures

15:00 Royalties, Jobs & Regional Benefits

19:00 Arguments Over Economic Value – Where Does the Money Go?

23:00 Sovereign Wealth Funds & National Spending

27:00 Establishment vs Punters: Who Benefits?

31:00 How Resource Taxes Work – Technical Breakdown

36:00 Foreign Investment, Leverage & National Interest

41:00 The Call for Resource Nationalization

43:00 Transparency, Donations & Where the Money Comes From

47:00 Closing Thoughts & The Need for Debate

The episode on the publisher’s site ↗ (opens in a new tab)