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Why Australia Can’t Just Drill Its Way Out of a Global Crisis
Energy Minister Chris Bowen said 3.7 billion litres are on the way after Easter demand rose 30 per cent.
- On Monday, Energy Minister Chris Bowen confirmed Australia has secured fuel supplies into May, telling reporters that additional orders have been locked in despite a difficult international environment.
- Iran's closure of the Strait of Hormuz has disrupted about 20 per cent of global supply, forcing Australia to rely on Asian refineries that provide more than 80 per cent of its fuel imports.
- Demand for fuel spiked 30 per cent over the Easter break, leaving 142 of 2,400 service stations in New South Wales without diesel by Monday, down from 182 on Friday.
- Consumers face sustained pressure on household budgets as high global oil prices drive up costs for groceries, transport, and dining, with effects expected to persist for months.
- President Donald Trump threatened Iran to 'open the F***in' Strait' or be 'living in Hell,' while officials warned that infrastructure recovery from the war could take five years.
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Sydney Morning Herald+2 Reposted by 2 other sources
Why Australia can’t just drill its way out of a global crisis
Despite the government’s confidence that the nation can avoid a crippling fuel shortage, attention has turned to what options Australia has in its own backyard. Do they stack up?
·Sydney, Australia
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Coverage Details
Total News Sources13
Leaning Left5Leaning Right1Center1Last UpdatedBias Distribution72% Left
Bias Distribution
- 72% of the sources lean Left
72% Left
L 72%
14%
14%
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