For seven years this Government has ignored fuel security and instead has engaged in baseless scare campaigns against policies which would improve our fuel security.
The Coalition Government has sat idly by while Australia’s refining capacity has decreased by 40 per cent over the last eight years and Australia has failed to comply with International Energy Agency fuel security requirements.
Instead of taking real action, the Morrison government has been silent on Australia’s refining capacity, while taking half-hearted measures to create a strategic oil reserve to be held in the USA.
If the Government was serious about fuel security, they would have a plan to secure the future of our remaining refining capacity and would deliver an oil and fuel reserve to be stored here, not on the other side of the world.
Angus Taylor needs to stop misleading the Australian people and covering up his failures in delivering fuel security.
Minister Taylor’s persistent inclusion of “stock on water” includes foreign owned, flagged and crewed ships that might be on the other side of the world at any given time.
Under no reasonable definition can these shipments be counted towards secure Australian supplies in an emergency, and that is why they are not counted as Australian fuel stocks by the IEA.