Fuel crisis solved?

Australia imports about 90% of refined fuel. The escalating tensions with Iran in the Strait of Hormuz (where Tehran has repeatedly threatened to blockade the narrow shipping lane that carries roughly one-fifth of the world’s oil supply) have forced tanker operators to reroute, cancel voyages or face uninsurable risk premiums, directly cutting off deliveries of refined fuel to Australian ports. Because of this we are facing nationwide shortages, causing prices to skyrocket. As a result the Labor government scrambled to secure shipments from Asian suppliers.

Today, Energy Minister Chris Bowen said that Australia had secured enough fuel imports to last well into May after supply disruptions.

The first issue is that while this temporarily fixes our total supply problem, there doesn’t seem to be any distribution plan, especially on which areas are going to get priority.

But the bigger problem with this whole issue is that it could have been easily avoided if Australia wasn’t so reliant on oil imports. If we had our own domestic refining capacity, we wouldn’t be left vulnerable every time a global conflict flares up. The United States has largely avoided the same level of disruption because it produces and refines a far greater share of its own fuel domestically.

Also, due to the reduction in fuel taxes, petrol prices were lowered by about 30 cents. But I would venture that we should have never had such tax in the first place, and it should be abolished. At $2.30 per litre, the federal government takes about 74 cents in tax (52.6c in fuel excise and about 21c in GST). Meanwhile the average fuel retailer makes around 5-10 cents per litre. Sounds like theft.

Polls

Newspoll (Australia’s gold-standard and most trusted poll) has shown One Nation achieving the lead vote in Queensland at 30% ahead of Labor (27%) and the Liberal National Party (23%). Interesting!

Party Politics

Moira Deeming, a Victorian Liberal MP became controversial for some reason after attending a women’s rights rally in 2023 that opposed transgender people going in women’s spaces (which majority of people tend to be against anyway). The rally drew major backlash when a small group of neo-Nazis appeared outside and performed Nazi salutes, leading Liberal leader John Pesutto to accuse Deeming of associating with extremists and expel her from the party. Deeming later sued Pesutto for defamation and won. Today, she has secured the top Liberal ticket spot for the Western Metropolitan region. What a great comeback.

World

US-Israeli airstrikes in Iran continued. President Trump also got a tad unhigned on Truth Social demanding Iran reopen the Strait of Hormuz by Tuesday, saying: “Open The F--kin Strait, You Crazy Bastards, or you’ll be living in Hell”

Additionally, The King did not release a formal Easter message this year, breaking tradition, yet he did release a formal message for RAMADAN? The King is supposed to be the 'Supreme Governor of the Church of England and "Defender of the Faith".

Chris Bowen (Energy Minister)