A fragile ceasefire between the United States, Israel and Iran has halted one of the most dangerous geopolitical acts of 2026 – but beneath the headlines of war, diplomacy and national security lies a deeper question: who actually benefits from global conflict?
In this episode, we explore the economics of war, the role of the military-industrial complex, and how defence contractors, energy companies and institutional investors profit from instability across the West Asia. As tensions build in Lebanon, Iran and global oil markets, we examine how share prices for major defence companies like Lockheed Martin and Raytheon surged during the conflict, before strategic sell-offs locked in massive gains – revealing how war is a highly lucrative business model.
These political narratives around security and defence often obscure the financial incentives driving prolonged conflict, and following the money – from military expos in Australia to lobbying networks in Washington – paints a very different picture of modern warfare. With the nefarious Donald Trump looming, there are many questions around corruption, insider trading and the exploitation of global instability for political and financial gain.
Back home, Australia’s energy security crisis exposes decades of policy failure, with the country holding some of the lowest fuel reserves in the OECD despite being one of the world’s most resource-rich nations. We break down Anthony Albanese’s scramble to secure oil supplies from Singapore, the strategic implications of deteriorating diplomatic relations with Iran, and the long-term consequences of relying on volatile global energy markets. As oil prices surge and supply chains tighten, the conversation shifts to the urgent need for a renewable energy transition, the rise of electric vehicles, and whether Australia can finally become the “renewable energy superpower” as promised by the Labor government.
From peak oil projections and gas export deals to the political inertia that continues to delay meaningful reform, this episode connects the dots between war, markets, energy policy and political power. At a time when global conflict is increasingly intertwined with economic gain, we ask whether this is simply business as usual – or a system that rewards chaos at the expense of stability.
