It’s 2026 and we’re back, baby! Clearly not much has been happening in the world since we left you appreciating the one liners of dreamy cult classic The Princess Bride, so this we’ll keep brief. HA!

Your intrepid hosts cast our sights beyond the binfire of domestic politics for a moment to the latest international institution to draw the ire of the Trump administration - this week featuring the International Energy Agency! The IEA’s recent biennial ministerial gathering in Paris last week saw the US demand climate be dropped as a priority – and specifically that net zero scenarios be dropped from their projections – Or Else! In this case, Or Else means a US withdrawal along with their dollars. Will the IEA succumb to these demands? Your intrepid hosts think unlikely, but Australia and other countries will need to stand firm and/or pick up more of the tab.

Our main course

The folks at The Superpower Institute must have known the LMSU crew leapt into 2026 ravenous for climate content and oh boy, did they deliver. Their recent paper, ‘The Case For Pricing Pollution,’ authored by 2025 Wonky Award winner Reuben Finighan and Ingrid Burford packs not one BUT TWO big ideas for your intrepid hosts to digest. A ‘Polluter Pays Levy’ would see a price on carbon applied to fossil fuel production/supply with price eventually pegged to the EU ETS, combined with a ‘Fair Share Levy’, a two-way cashflow tax of 40% on oil and gas (but mostly gas) producers, replacing the current and not effective Petroleum Resource Rent Tax. In other words: don your meat dress, crank One Direction, and tax rents and carbon while planking. YOLO (again)!

Why has TSI ‘gone there’? we can hear you gentle listeners ask. We are not on track to meet our net zero commitments, structural budget deficits demanding spending restraint in the face of growing costs attached to worthy social supports, and weak productivity suggests the need for a more efficient way to price carbon and raise revenue ($35.6 Bn a year out to 2050 is big dollars). This report is a bold provocation, aiming to stimulate discussion ahead of the 2026/27 Safeguard Review to suggest it’s time to revisit the policy that until recently dared not speak its name. Your intrepid hosts welcome the provocation and thinks there may be multiple ways to skin the carbon price cat. Also, this should definitely have been two papers. Kthnxbye.

One more things

Tennant’s One More Thing is: another obscure but entertaining pop culture find: V: The Original Miniseries. Available we’re not sure where. You’re welcome!

Frankie’s One More Thing is: a strange and unexpected role reversal as she plugs the long-awaited, much lusted after in one T Reed’s heart, the final report from the Government’s carbon leakage review! Slipped out the same day as #LibSpill2026 no less. TL;DR is: do the CBAM! (and not much change from draft report).

Luke’s One More Thing is: the currently-showing-in-theatres-Baz-Luhrmann-spectacular “EPiC: Elvis Presley in Concert”. Stitched together from footage of different Elvis concerts over time, Luke reckons even if you’re not a hunk of burning love for Elvis before seeing this, you might be after. 

And we throw in a cheeky plug right at the end for Climate Action Week Sydney! Get on it!

And that’s it for now, Summerupperers. There is now a one-stop-shop for all your LMSU needs: head to

letmesumup.net

to support us on Patreon, procure merch, find back episodes, and leave us a voicemail!