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Drill, Refine, Secure: Solving the Fuel Crisis for Good

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The Albanese Labor Government’s Fair Work Amendment (Fairer Fuel) Bill 2026 was nothing more than a drop in the tank during the fuel crisis. While its aims were to reduce lead times for renegotiating road transport contracts from over a year to a few weeks, it failed to solve the broader issues crushing our economy, agriculture, and everyday families.

Labor’s rushed these poorly drafted bills without proper consultation. This legislation hands unchecked, unscrutinised powers to the minister to interfere in the Enterprise Agreements protecting independent trucking companies indefinitely.

One Nation supported this bill because we wanted to offer immediate relief to our critical trucking industry. However, A One Nation government will amend it. We will mandate a sunset clause, require a formal declaration of emergency as a legislative instrument, and ensure measures expire as soon as the crisis ends.

The government should have invoked the Liquid Fuel Emergency Act 1984 weeks before this legislation was introduced. Doing so would have forced foreign multinational oil companies to release hoarded fuel reserves into the market, reining in regional price gouging.

While trucks keep Australia supplied, farmers face doubled fuel costs, making winter crop planting unsustainable. Labor is picking winners while ignoring regional Australia, small businesses, and manufacturing.

Australia is in this position because Net Zero ideology was prioritised over practical energy security.

Domestic oil production must be restored. We need to build new refineries, construct gas-to-petrol plants and establish a domestic gas reservation so Australia is never left vulnerable to foreign supply shocks again.

— March | Senate Speech

Transcript

Senator Roberts: The Fair Work Amendment (Fairer Fuel) Bill 2026 is a drop in the tank when it comes to managing the fuel crisis. The bill relates to road transport contract chain orders which used to be called delivery contracts. It allows those contracts between businesses and their trucking companies to be renegotiated as a result of this fuel crisis. Currently, that process takes 12 months or more. This bill may—’may’, not ‘will’—reduce the lead time on a contract renegotiation to a few weeks. 

The road freight industry is critical to the functioning of the economy. Everything in our supermarkets, hardware stores and shopping centres is trucked in. If trucks stop moving because the government failed to secure a supply of fuel, affordable diesel, then people starve; chemists, doctors, dentists and hospitals run out of supplies; casual employees and apprentices are put off work; and loans, rents and mortgages go into arrears. And it’s all downhill from there. It’s that simple. 

This bill amends legislation that Labor introduced in 2024 which created these road transport contract chain orders without any emergency provisions or the ability of the government to step in when the public interest is not being protected. This bill corrects the Albanese government’s lack of foresight and forethought. This government needs to slow down its conga line of poorly written bills—we’ve had so many—take the time to consult and stop using the committee system as a rubber stamp. Had it done that, these provisions would most likely have already been included. The problem with this bill is that it doesn’t actually relate to the current fuel crisis, yet it gives the minister powers to interfere in any RTCCO—road transport contractual chain order—it wishes for the rest of time. Powers are not subject to parliamentary scrutiny, and there’s no requirement to make an order introducing an emergency RTCCO through a legislative instrument. Power without accountability is always a very bad idea. Emergency powers exist for emergencies, not to tip the scale in favour of your union mates. 

One Nation will support this legislation. Given we have not had the time to prepare amendments to introduce checks and balances, One Nation will amend the bill when we take government. Our changes will require a declaration of emergency to be a legislative instrument setting out the reasons for the order and include a sunset clause, a trigger, so that, unlike what Labor is trying to do, measures do not extend past the end of the crisis. 

One Nation points out that, while the trucking industry deserves the help this bill may provide, so does the rest of Australia. Due to a doubling of fuel costs, farmers are struggling to fund their harvests. Farms’ fuel bills must be paid in 14 days, while farmers are not paid for their harvests for an average of two months. With fuel costs rising from, as in one case I was told about, $15,000 per week to $30,000 a week, there are massive extra amounts for family farms to bankroll themselves—and they can’t. Around Australia today, farmers are unable to plant their winter crops. The spring harvests will be down, and fuel prices will go up. The Labor government is hollowing out the bush again. It’s driving people into the cities, and it’s running the fuel crisis to push that objective. 

If the government had the best interests of Australia at heart, it would have already invoked the Liquid Fuel Emergency Act 1984. The act enables the Commonwealth government to prepare for and respond to severe shortages of crude oil and refined liquid fuels such as petrol, diesel and jet fuel. It supports Australia’s obligations under the International Energy Agency agreement and emphasises cooperative responses with industries, states and territories. It provides strong ministerial powers as a last resort if market mechanisms are insufficient. The act requires the minister to be satisfied that there is or is likely to be a serious shortage of liquid fuels with national implications that cannot be adequately addressed without using this bill’s special powers. Powers include directing industry-held stocks of crude oil and liquid fuel, such as requiring companies to maintain, purchase or release specified reserves at certain locations and, secondly, regulating fuel sales and distribution across Australia, including bulk-supply restrictions and retail rationing. This legislation is there, and it should have been invoked weeks ago. This is day 32 of the Iran conflict—32 days for the Prime Minister and his ministers to stop the selfies and cringy TikTok videos and address the real crisis; 32 days of horror for the economy, the devastation of which will ensure the ALP do not form government again. 

Let me explain what’s going on here. These powers require the minister to do certain things. One of those things would be to force foreign multinational oil companies to direct the fuel they’re currently hoarding and supply some into the spot market. This is the market which supplies smaller outlets, especially in rural and regional areas. These are the outlets that suppliers are currently charging way over the odds for their petrol, causing price spikes. Then, once they’ve driven price spikes in the regions, the city outlets that those same multinational fuel companies own themselves put up prices to match prices imposed on the bush. The outcome is price gouging. It’s calculated, and it’s deliberate. The government rammed through legislation last week to increase the fines for doing exactly that, but it will take years before the ACCC’s legal action against multinational fuel companies gets through the courts. They’ll get a rap on the knuckles and agree to a small fine, banking windfall profits and most likely doing it all again. The Albanese Labor government is once again proving it’s the best friend of foreign multinationals and no friend of everyday Australians. 

The Fair Work Amendment (Fairer Fuel) Bill 2026 will result in transport charges rising—and that’s the point of the bill. Before the crisis, getting a tonne of produce to market cost $100. With the fuel shock, it’s now $175. This legislation will drive that price even higher. This isn’t the government helping the trucking industry; it’s the government making the rest of the economy pay more to help the trucking industry. Food will be dearer. Clothing will be dearer. Consumers will pay. The answer is to reduce the price of fuel, not force up the price of freight. 

Last Friday, the National Road Transport Association, NatRoad, published comments critical of the legislation, pointing out: 

“… most small to medium operators simply could not survive until Fair Work Changes flowed through.“

Here’s another quote: 

“… recent announcements, including emergency Fair Work Commission powers and moves toward better fuel monitoring failed to address the immediate needs of industry.…

NatRoad is calling on the Federal Government to urgently implement three … measures to keep trucks on the road and prevent further economic disruption: 

  • Activate emergency financial support payments for affected transport businesses 
  • Introduce a six-month moratorium on heavy vehicle equipment loan repayments through lender hardship arrangements 
  • Immediately remove the Road User Charge for heavy vehicles”

The national road user charge is a tax of 32.5c per litre of diesel. Operators claim back the fuel levy of 52c per litre and then pay the road user charge. One Nation calls on the government to suspend the road user charge for heavy vehicles for as long as this crisis continues. Taking out the fuel duty and the GST will make a large difference to trucking industry cash flows and their ability to get through this crisis—and reduce grocery bills. Invoking the Liquid Fuel Emergency Act 1984 to stop multinational fuel companies profiteering will reduce fuel prices and reduce the need for freight charges to rise. 

The truth is that every sector in the economy is in need of assistance. The knock-on from extreme fuel prices extends right through the economy. Trucking has the potential to impact everyday Australians—and every Australian—and more quickly than other sectors, so it deserves first attention. We see no problem in that. My objection is that the Labor government is picking winners, helping some but not others based on its radical communist ideology. Labor says to small business, ‘No assistance for you’; to manufacturing, ‘No assistance for you’; to farmers, ‘Definitely no assistance for you lot’; to rail transport and ports, ‘No assistance for you’; to Defence, ‘No fuel for you.’ 

The Albanese Marles government refused the request from President Trump to participate in international efforts to make safe the Strait of Hormuz so Australian bound fuel tankers can get through to Singapore or South Korea to refine our petrol for us. This raises the question: Australia doesn’t have a defence strategic liquid fuel reserve, so just how much fuel do our armed forces actually have? And why did the Navy ponce around in Exercise Kakadu Fleet Review last week? This wasn’t a training exercise; this was to show off. From where did those boats come, to where are they returning, and how much fuel was wasted for a photo op in the middle of a fuel crisis? Fair dinkum! The Navy has now caught the selfie virus. Heaven help us. 

The Albanese government snubbed the President of the United States, our greatest ally, while grovelling on hands and knees to him for fuel. ‘Please, sir,’ the Prime Minister pleads, ‘can we please have some of your oil reserve, as we sold ours off for a quick buck?’ The Albanese Labor government is a dishonest national disgrace. How did you not see this coming? One Nation have been banging on about the need for restoring oil production and increasing our domestic reserve since 2020—and about fuel security since 2016. 

Now, I know social media is circulating a Liberal Party meme claiming that One Nation voted against giving subsidies to the Kwinana and Altona refineries in 2020 to keep them in production. Let me address that first, with a history of closures. Port Stanvac closed under the Howard Liberal government in 2003. Clyde closed under the Gillard Labor government in 2012. Kurnell closed under the Liberals and Nationals in 2014. Bulwer Island closed under the Liberals and Nationals in 2015. Kwinana closed under the Liberal and Nationals in 2021. Altona closed under the Liberals and Nationals in 2021. Now, the meme circulated says that One Nation voted against the fuel security package in 2021, which we did. What the meme does not tell you the bill we opposed was a stunt. BP and Exxon had already announced the closure before the bill was ever written. The Liberal-National government designed the bill to pretend to the public in the 2022 election that the Liberals cared about fuel refining—all to look good, not do good. Exxon and BP never received the money. They knocked it back because plans for closure were underway, and $2.3 billion wasn’t enough to change their minds. So what did we vote against? Nothing—a Liberal Party con, a fraud on the voters. I’m so pleased the Liberals dug that one up though; it shows they haven’t changed. 

By the way, I remind people that Pauline Hanson said: ‘Why are we handing over money? We need equity.’ No, the Liberals didn’t want equity. Just hand over the cash. In her speech in the Liberals’ 2021 bail-out bill, Senator Pauline Hanson called on the government to use that money to buy those refineries and put them into the hands of Australian people to maintain our domestic refining capacity. Of course, the Liberals and the Nationals ignored that request. 

Let’s be clear. Australia is in this mess because the Liberal Party, the National Party, the Greens, the Teals and the Labor Party all still believe in climate change. I tested that last week with my amendment to the appropriation bills that called for the net zero spending to be removed from the budget. Their vote on our amendment is damning. Labor opposed. Liberals opposed. Nationals opposed. Greens opposed. Teal David Pocock opposed. These parties all support giving away another $9 billion to climate prostitutes feeding off the UN net zero scam—parasites killing Australia’s energy and economy. So, of course, they’re not going to do anything to help the petrol and diesel industry. This government is making a horrible mess of the fuel crisis because it’s making decisions based on ideology not practicality—on a scam and contrary to the hard, empirical scientific data. And the globalist Liberals and Nationals are right there with them. Shame on you all! 

We need to drill for oil; restore production in the known deposits—and we’ve got plenty; get started building new refineries; and, in particular, build new gas to petrol plants to use Australia’s cheap, natural gas to make our own petrol again. One Nation introduced legislation for a domestic gas reservation to provide the gas we need for that, and of course the uniparty voted it down. When will people realise these tired old parties love their ideology and their donors and hate anyone who doesn’t agree with their ideology or with their donors? One Nation cares about everyday Australians, and that’s why we’re surging in the polls. It’s not about patriotism or nationalism. Our surge is the public realising that the old parties do not have their backs and One Nation does. 

To remind the Senate, One Nation has already called for the removal of the fuel excise and a three-month moratorium on GST on liquid fuels. Taken together, they will reduce fuel prices outside the trucking industry by 75 cents a litre—a real benefit for everyday Australians. The government has refused to take that measure, even while Treasury is making out like bandits raking in hundreds of millions of dollars each month in additional GST payments on crazy-high fuel prices. I haven’t heard a state premier complain about that either, as they benefit from the GST. The states must be held to account, as well, for their greed. 

Everyday Australians are filling up their vehicle in terror and, yes, in anger at the Albanese government’s greed and arrogance and distance. It’s $100 to fill a small car and up to $200 to fill a family car in the most energy-rich nation on Earth. The biggest exporter of hydrocarbons in the world is Australia. Groceries will go unbought; that’s if they’re available. Clothing and homeware stores are already reporting slow-downs. Your children won’t get those new clothes, new shoes or quality groceries, because their parents are having to pay for the stupidity, the arrogance, the dishonesty, the deceit and the greed of the Chalmers-Albanese Labor government. I foreshadow One Nation’s second reading amendment on sheet 3747. 

I’m pleased the government sees the fuel crisis is real. When we mentioned it first, One Nation were called far right extremists for labelling it. I’m pleased the government sees the regional crisis is now real. Again, One Nation called it first because we listen. Suspend fuel taxes now!

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When the Trucks Stop, Australia Stops

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Government is failing to maintain the internationally mandated 90-day fuel stockpile, currently holding less than 30 days of reserves.

Senator Ayres is misrepresenting statistics, claiming “115% capacity” when it actually means only 26 days of supply. A deliberate deflection of accountability.

Depleted fuel reserves put the nation’s daily transport, defense, mining, and agriculture sectors at severe risk, threatening to grind the country to a halt and fuel inflation.

Australia needs long term fuel security – not short term band-aid fixes.

For decades Senator Hanson has suggested a pipeline to convert domestic natural gas into liquid fuels (diesel and petrol) for major cities.

The United States has dropped net zero and the Paris agreement and is now producing more hydrocarbon fuels. Why? Because they are essential for human life as we know it.

One Nation calls for an immediate parliamentary inquiry to reveal the truth, address price volatility, and secure Australia’s fuel supply chain.

Transcript

Senator Roberts: This matter is urgent for three reasons. Firstly, the truth is not coming out. We want it out. It has to come out immediately before more people die. Secondly, fuel security—the people are getting ripped off at the bowser because of fuel volatility in prices and supply. I want to correct the record here, and I also want to point out, yet again, how urgent this is. 

This is from Senator Hanson, Leader of One Nation, from a Hansard from 2021: 

“I rise to speak on the Fuel Security Bill 2021. When I came into the Senate in 2016 I raised the importance of fuel security for all Australians.“

For a decade, she has been on about it, and I have been hearing her for that full decade and before. She goes on to say: 

“This and previous governments have continually failed to meet the internationally mandated 90 days stockpile of fuel for the people of this nation. That means this government has put at risk—“

that was the Morrison government, but you’re doing the same now— 

“the fuel security of our daily transport needs—” 

daily transport needs of the people watching this at home— 

“our defence, our aviation industry, our mining and our commuter needs. Without this internationally mandated 90-day stockpile of fuel, Australia risks coming to a grinding halt. My concerns were echoed by Senator Jim Molan when he entered the parliament in … 2017.“

Not only has she done that, but she’s advocated for a pipeline across the country to bring some of the world’s largest gas reserves to the east coast cities of Brisbane, Melbourne and Sydney and get fuel from gas to liquid fuel, diesel and petrol, conversion. And what have you done? Nothing 

What Senator Ayres did, through you, Chair, on Monday, when I asked this question and started this talk about fuel security—which we must discuss—is try to conflate it by saying he had 115 per cent, 120 per cent, 150 per cent. Forget the arithmetic; he was misleading, because, when we went and did our research, we found out he had 115 per cent of 24 days, which is about 26 days. We realised he was misleading the people of Australia and misleading the representatives in this chamber, because he was saying we had 115 per cent of reserves when we had less than 30 per cent of reserves, according to the International Energy Agency. Then, when he was caught out by my question on Monday, what did he do? He focused entirely on Angus Taylor, who has nothing to do with this at the moment. 

This is what the government try to do. They try to deflect, denigrate and mislead, and they try to hide it. That’s why we need this, if I follow Senator McKenzie’s call—I’ll read clause (b). It calls on the government to take ‘urgent action to avoid a fuel crisis that will add to Australia’s already existing, home-grown inflation pressures’. Fuel stocks are low. We are not arguing they are low under Mr Taylor as the energy minister. That’s for another day. We want to sort the problem out now. We need truth, we need security, and we need absolute facts out in the open. That’s why we need this inquiry. We can’t get the answer by asking the minister, Chris Bowen, or Senator Wong. 

Volatility of fuel prices is cut by having reserves at 90 days. That is a fact. The people of Australia will pay through the neck. The other thing is security. The whole country stops when we run out of diesel—farms, mines, transport. Every single thing in this country relies upon transport indirectly or directly, and, when the trucks stop, Australia stops. You should know that from listening to Glenn Sterle, a truckie himself. This is about security. It’s also about long-term security, getting a pipeline across the country, as Senator Hanson has requested and suggested for decades now, to convert our gas fuels into liquid fuels, diesel and petrol in Sydney, Melbourne and Brisbane. We also note that the United States has dropped net zero and the Paris agreement and is now producing more hydrocarbon fuels. Why? Because they are essential for human life as we know it. 

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Labor Trapped Young People

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RBA cash rate rises create serious concern for 5% home deposits

Labor’s ‘Big Australia’ mass migration project, designed to shore-up Albanese’s vote at the next election, has created a catastrophic housing shortage.

Everyone knows it.

Even if the media and self-interested uniparty choose to deny the facts.

Young people across the country know it too. They are the ones standing in rental lines behind 50 people who cannot speak English, trying to decipher rental signs written in a foreign language and clearly pitched to everyone except Aussie kids.

They feel upset. Betrayed. Left out. And ignored.

These Australians know they are competing against Labor’s migration agenda, not organic competition like their parents and grandparents faced. This is not, in any way, a ‘fair’ housing market.

When these young Australians decide to ditch the soul-crushing rental queue and take on the dream of home ownership that changed their parents’ lives – they discover an even worse situation.

The price of homes, including small city apartments in the areas they need to live to keep their jobs, are unattainable.

Some of this price increase is to do with greedy government fees and charges, while the rest is a consequence of too much demand from people who live outside the Australian economic cost-of-living crisis. Foreign buyers often have the means to push prices well above what they should be.

In Australia, house prices have advanced much faster than the average wage. Even those earning $100,000 per year – once considered a mark of success – feel that home ownership is financially impossible. These people are no longer considered to be ‘doing well’. They are struggling.

Not to mention that the average worker has a considerable amount of their wage taken as ‘super’ and given to union funds to play the stockmarket. This makes union super funds rich and pushes huge volumes of investment money into projects – usually in the green industry – that otherwise would never receive private funding. $4.5 trillion has been taken out of people’s pockets and locked away. This money remains untouchable until someone turns 65. 8-10% of Australians will die before they access their super (or 56% of Indigenous Australians). That money used to be used for home investment and there is good reason to believe that compulsory super is one of the contributing factors to a major drop in home ownership amongst the middle and working classes.

There are ways to immediately improve the housing situation – the most obvious being the deportation of visa overstayers and a severe cut to migration. This would immediately free up hundreds of thousands of properties for domestic buyers and renters.

That would benefit Australians and massively hurt the political class and their major financial backers.

Instead of doing the right thing, Chalmers & Co have designed a system to turn a profit from the hardship and desperation of young Australians.

In August of 2025, the Labor government introduced their 5% deposit scheme for first home buyers. There is also another version of this for single parents to buy a home with a 2% deposit.

Labor described this as ‘helping more Australians realise their dream of home ownership’ where the government (taxpayers) ‘guarantee a portion of a first home buy’s home loan with a lower deposit and not pay Lenders Mortgage Insurance’.

Their argument is this:

‘All first home buyers will have access, with no caps on places or incomes limits. Property price caps will also be set higher in line with the average house prices, providing access to a greater variety of homes.’

Predictably, this did not unlock more desirable homes – it created an almost immediate increase in home prices. Labor said it would be 0.6% over the medium term. Instead, it was 3.6% in the first quarter. The developers win. Ministers in Canberra with property portfolios win.

Finder says the average loan amount for first home buyers in December 2025 was $607,624. This is a huge sum of money. In 2015, you could expect a first homebuyer to take on $333,500. Westpac says first homebuyers are typically over 40. This shows you how much harder it is to get enough financial security to consider buying a home.

And while the ‘average wage’ is listed as $104,000, it’s suspected that this figure is skewed and the real average is probably closer to $88,000. After tax that’s around $69,000.

If you think this whole thing sounds like a bad idea, you’re right.

To translate it into economic reality, Labor is encouraging and actively changing the rules to allow young Australians to take on loans they cannot realistically afford (and would not be normally given) right when the RBA has warned it will continue to raise the cash rate – which it has done multiple times since the scheme began.

Treasurer Jim Chalmers said he did his degree in ‘Paul Keating’ – now he is in danger of re-creating Keating’s gravest mistake.

A person with a normal mortgage that they attained under strict rules is already suffering under the RBA rate rises. Individuals who took on a 95% mortgage are at a very serious risk of defaulting. It only takes a small rate rise on a sum of money this large to lead them into disaster.

An entire generation of vulnerable, trusting Australians have been led into imminent economic ruin by a government that thought 5% deposits were nothing more than a vote-buying game.

It isn’t a game.

It’s people’s lives.

People’s futures.

This isn’t about ‘votes for Labor’ for people who think the government is ‘gifting’ them a house, it’s about Australians watching their savings burn and homes taken off them in a time of economic uncertainty.

It’s rare to find a government that cares so little about young people – although we know exactly why they did it.

Mass migration is a vote buying operation for the Labor Party. They cannot give it up, even though home ownership is the leading election topic among their rising young demographic that is in danger of being taken by the Greens. Labor has made a wager on a short-term vote winner with no regard for the coming disaster.

Even the Daily Mail warned of an impending catastrophe after the latest RBA cash rate rise highlighted a significant rise in risky mortgages (4% of the total market!)

To quote:

‘While the banks are insulated by the government guarantee, which covers the first 15% of any losses from these loans, households are exposed. The banks are fine. The main risk falls on individuals.’

It’s widely expected war in Iran, and the high petrol prices and fuel insecurity that flow on from this scenario, will increase inflation and lead to even more rate rises in the near future.

Government debt – also known as Chalmers’ spending spree – is the main driver of inflation and the interest repayments on this blackhole are climbing every day.

When debt passes $1 trillion – which it is expected to do shortly – interest payments will cost $60 million per day or $41,667 every minute.

Every Australian – whether they are an infant or retired – owes $806.65 every year in just interest. And that’s if Chalmers stops spending right now. And to pay off the $1 trillion debt tomorrow, it would require every person to cough up $36,850.01.

If fuel prices increase (or fuel rationing starts), we can expect a catastrophic loss of businesses and, therefore, jobs. How many young people will lose their jobs and be unable to service these mortgages?

The uniparty doesn’t care. The government never loses.

It raises taxes. It tightens your belt so it can eat more money.

Remember, if you think the LNP are any better, they have their own reasons for supporting ‘Big Australia’. The Howard government marked the start of mass migration. All Coalition governments since have done nothing to change it and they never will.

One Nation are desperately worried about the future young people face.

We have a comprehensive policy to cut immigration by over 570,000 and to deport 75,000 migrants visa over-stayers, illegal workers, and unlawful non-residents who threaten our national security. We also have a housing policy to ensure unnecessary fees, charges, and taxes are cut to get homes built without destroying our green spaces or cultural heritage.

One Nation is here to make a genuine difference for you, not Canberra.

Labor TRAPPED young people by Senator Malcolm Roberts

RBA cash rate rises create serious concern for 5% home deposits

Read on Substack

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Running on Empty

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How Labor is turning fuel security into another Net Zero scam under the banner of ‘national security’

Despite decades of warnings, Australia has been exposed to an incredibly dangerous situation.

We have 20-ish days of fuel security, much of it hosted offshore, and all of it draining away as war escalates in the Middle East.

As for a backup plan? That doesn’t exist.

‘In a time of conflict, this government is running a ‘she’ll be right’ attitude.

‘There is no need to panic-buy petrol…’ insisted our reckless, over-spending Treasurer, Jim Chalmers.

Chalmers was simultaneously trying to blame the war in Iran for his dodgy budget accounting while pretending there’s ‘nothing to see here’ with the fuel situation.

Prime Minister Albanese’s Energy Minister, who has forgotten about carbon emissions, backed Chalmers’ comments, insisting that panic buying would ‘just make the situation worse’.

It’s impossible for Australian taxpayers to make the fuel situation ‘worse’ after successive Labor and Coalition Unitparty governments left us in a catastrophic position. We import 90% of our liquid fuel – this includes our requirements for domestic transport, industry, agriculture, and military defence.

To save money on storage, the vast majority of these imports come as ‘just-in-time’ deliveries.

Even the fuel we import from Asia is sourced largely from the Middle East – and we can expect China to lean heavily on this supply now that its import network is severely disrupted after what happened in Venezuela, Iran, and the wider Middle East.

Other nations are forced to rely on dicey international transit routes, and Australia has chosen to do the same. This is a monumental political failure.

Over 20 years, six of our eight refineries were closed or substantially wound down with ‘competition from Asia’ cited as the reason. Two of these critical refineries met their demise under the watch of the then-Energy Minister Angus Taylor, who now seeks to present himself as the salvation of conservatism.

At the time of ExxonMobil’s decision to close the Altona refinery (constructed in 1946), Angus Taylor said this ‘will not negatively impact Australian fuel stockholdings’.

This was simply wrong. It was wrong then and it’s wrong now.

Successive Coalition-Labor governments have sold Australia’s national security off to free up cash in the budget or because they could not be bothered to argue the case of national security when it mattered.

We still have minimum reserve supply rates, which are designed to buffer against natural disasters and temporary disruptions – they are not satisfactory for extended periods of global conflict nor do they make provisions for the fuel-guzzling behaviours of our geopolitical partners. This means that earlier war-gaming by the government, which insists Australia can buy its way out of a shortage, lack the real-world probability that nations will protect their own needs above our contractual arrangements.

It’s a cold, hard reality that if Australia were to be cut-off from its fuel deliveries, the wheels of our nation would fall off in early April.

A 2018 report commissioned by the government suggested Australia maintain domestic refinery capabilities. It did not foresee simultaneous disruption to Asian, Middle Eastern, and South American fuel markets. It did not foresee conflict zones and regime changes in Europe, the Middle East, and South America. It did not foresee the largest refinery in the Middle East going up in flames, or Iran deliberately targeting the entire energy structure of its neighbours. And it did not foresee the oil politics taking place between Russia, Ukraine, and neighbouring nations such as Hungary.

In other words, the government report failed to properly gauge future risk and assumed a world that no longer exists.

…even after US President Donald Trump gave everyone the hint with his, Drill, baby, drill! push to bolster domestic supply.

As the Maritime Union of Australia said earlier this week:

‘This is not a distant geopolitical drama, but a direct threat to Australian workers, families, and industries.

When a fifth of the world’s oil moves through a single maritime corridor and that corridor is shut by war, the consequences are immediate.’

It’s in this environment that our party leader, Pauline Hanson, put forward a proposal for an immediate inquiry into fuel security. To this we would also request full transparency on how long it would take and how much it would cost to construct domestic self-sufficiency in fuel refineries.

These are things we need to know.

And what did Labor and the Greens do?

They voted it down.

They put party politics ahead of Australia’s security and your future survival.

Their dislike of Pauline Hanson, who they wasted time censuring for a second time, overrode their responsibility to the people of this nation. This is the type of politicking that must end.

While we take fuel security seriously, there is evidence mounting that Labor and the Greens intend to use public panic as a means to prop-up their dying ‘Net Zero’ industry.

The Climate Catastrophism narrative has well and truly worn off, with most Australians – and nations around the world – realising that it was a scam designed to line the pockets of mining operations and foreign energy companies with public money. A lot of politicians found very rich private sector jobs after legislating in favour of all things ‘green’.

Now, ‘national security’ has become the next unquestionable buzz word that can be invoked by the Prime Minister, Treasurer, and his Energy Minister to justify another pivot toward decarbonisation.

The outrageous propaganda is already starting.

News.com.au ran a story at the beginning of March, Why your next car is a matter of Australia’s national security.

It was one of many pieces caught up in the ‘EV to save us from the Iran war’ frenzy.

If you wouldn’t drive an electric car for yourself, would you do it for your country? Conflict in Iran is a stark reminder: an EV is more than a personal choice – it’s a matter of national security. Choosing an EV makes you, me, and our wider community less reliant on fossil fuels.

The Australian Electric Vehicle Association also put out a press release: EVs have always been about fuel security. Really? I thought they were about ‘saving the world’?

AEVA argues that the full electrification of transport remains the single most effective strategy the nation can enact to improve fuel security.

Of course, there is no explanation as to how relying on communist China – which uses Middle Eastern oil to build EVs and Middle Eastern diesel to ship them to Australia – solves any of our problems.

Nor is there a reliable answer to the transport industry, which is incompatible with electric trucks. And there isn’t even a faint ‘nod’ to where China sources the materials for the construction of our renewable grid – those being volatile African nations which operate under a mixture of debt-trapping and despot corruption, abuses of human rights, and traversing regions of the world prone to terrorism and war.

Even if we were to replace our domestic fossil fuel energy grid with solar, wind, and batteries – there is nothing more vulnerable in a time of conflict than a giant solar industrial complex or thousands of kilometres of transmission lines running through undefended forests and open ocean.

Strategically, it’s madness.

In reality – it’s impossible.

Yet attempting to achieve this lunacy is a ‘national security’ narrative with which the Prime Minister and his mates will likely try to appease the Greens.

The Greens have come out in open defiance in recent weeks and their voters will see it as an ideological victory and anti-war protest. Their support will join huge corporations already gorging on taxpayer dollars and unions protecting Net Zero-inclined funds.

Money and opportunism are about to hijack public fear over the war to revive the Net Zero industry.

And it will do so at the expense of Australia’s national security.

One Nation believes this to be one of the most dangerous fake news narratives an Australian government has ever sold. A short-sighted, selfish political move that could leave Australia open to a very real logistic catastrophe.

We call on the entire Parliament to put fuel security at the top of the agenda, and to restore Australia’s energy grid to self-sufficient network as a matter of urgency.

One Nation will immediately buy whatever supplies we can obtain in the market, which the Albanese government is still not doing. Then we will work with fuel companies to get new oil refineries in Kurnell and upgrade the Lytton plant in Brisbane, and Geelong in Victoria.

We will immediately start construction on gas-to-fuel plants and legislate a domestic gas reservation so we have cheap Australian gas to convert to fuel. We will build the missing link in the national gas network – a pipeline to connect the East coast and West coast gas networks.

This violation of national security can never be allowed to happen again.

‘Running on empty’ by Senator Malcolm Roberts

How Labor is turning fuel security into another Net Zero scam under the banner of ‘national security’

Read on Substack

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Australia’s Fuel Stock Shortfall: Current Crude Oil Reserves at Just 53 Days

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In the event a war breaks out or our shipping routes are blocked, Australia is screwed with practically all of our local refineries out of business.

At the May Senate Estimates, I asked the Department of Climate Change, Energy, the Environment and Water (DCCEEW) for a detailed breakdown of current fuel stocks, specifically how much is finished liquid fuel versus crude oil. Ms Svarcas indicated she will provide these figures on notice and at the same time, will clarify how crude oil is reported under the Minimum Stockholding Obligation (MSO).

I then inquired about the latest figure for Australia’s crude oil stock relative to the International Energy Agency (IEA) requirement of 90 days. Ms Svarcas confirmed that the current figure is 53 days and includes all fuels and refined products in Australian waters. This stock does not include the Exclusive Economic Zone (EEZ) stock, avoiding double counting between IEA and MSO measures. Ms Svarcas noted that “consumption cover days” are reported monthly on their website and are publicly available. She added that these figures indicate how long the stock will last based on average consumption, giving a clear view of Australia’s fuel supply.

It was a big surprise to discover that Australia had sold its 1.7 million barrels of oil from the US strategic reserve. While it was never a good idea to have a national reserve held on the other side of the world, the secrecy with which the sale was done in response to Ukraine is concerning.

Transcript

Senator ROBERTS: Thank you. Let’s move to fuel security. We covered the minimum stock holding obligations for petrol, diesel and jet fuel at some length last Senate estimates. You gave to me on notice, in SQ24000046, that the refineries may also report crude oil and unfinished stock as liquid fuel. Do you have a breakdown of how much of the reported stock holding is actually finished liquid fuel versus crude oil—not a projected conversion of existing crude into future petrol, diesel or jet fuel, but the actual quantities of the four measures, as it exists now? 

Mrs Svarcas:  Just so I’m really clear, for the MSO obligation, you’re asking how much of the crude oil do we count as petrol, jet fuel and diesel? 

Senator ROBERTS: Yes. Can you also provide to me the actual amount, right now, of crude oil as it is, jet fuel as it is, petrol as it is and diesel as it is, and not projected conversions of crude oil into those things? 

Mrs Svarcas: I will have to take on notice the projected for crude oil into those things. The MSO does allow, under the reporting obligations, for an entity to effectively say they’ve got a bucket of crude oil, and they will be converting X amount of it through their normal operations—and how much of that is going to be diesel, how much of that is going to be jet fuel et cetera. I would have to take on notice how much of the crude is crude, if you will, and how much is fuel. 

Senator ROBERTS: Thank you. That’d be good. You explained previously how there’s the domestic minimum stockholding obligation for petrol, diesel and jet fuel put in place by the government then there’s the International Energy Agency agreement for 90 days of crude oil. Last estimates, you told me we were at 55 International Energy Agency days of crude oil. What’s the latest figure for that, and is all of that stock in Australia’s exclusive economic zone here? 

Mrs Svarcas: The actual figure of that today—the last report was from March 2024—is 53 days and that figure captures all of the things. It might be helpful if I describe what’s captured in that. It’s crude oil as crude oil. It’s diesel, petrol and jet fuel. It also includes other refined products. For example, the oil that you would put into your car is included under the definition provided to us by the IEA. It’s those stocks that are on land in Australia and in our domestic waters. But, importantly, the difference between the IEA days and the MSO calculation is that it does not include the product that’s in our EEZ; it’s just the product that’s in Australian waters or physically in Australia. 

Senator ROBERTS: So is there any double counting then? 

Mrs Svarcas: No, there’s no double counting. There’s a difference between a vessel that is in Australian waters—how it’s included in the IEA days—and stock that is in the EEZ that is counted in the MSO days. It might also be useful, if you’ll indulge me, to explain the difference between the measures that we have in place so that you can get an idea of what we use it for. As I described, the IEA days are one single calculation of all of the fuel and fuel products as defined by the IEA. We also have our consumption cover days. They’re the days that we report every month publicly, and you’ll find those on our website. They are a measure of how long the stock will last. So they give us a really good indication of what we’ve got every month, and how long, based on average consumption, that will last. That’s all publicly available. Then we also have the MSO, which is slightly different, and the purpose of that measure is to set that minimum stockholding obligation to give us the insurance policy of making sure, from our perspective, how much fuel, liquid fuels and things we should have in Australia should there be a market disruption. So the purpose of each of those reportings is slightly different, which is why what goes into them—what we count and how we count them—is also slightly different, because they have different purposes. 

Senator ROBERTS: I look forward to the numbers that you’re going to give me. Our strategic reserve— 

CHAIR: If you’ve finished that line of questioning, we will need to rotate. 

Senator ROBERTS: I’ve just one more question on strategic reserve. You told me at last Senate estimates that Australia has sold all of the oil reserves in the United States’ strategic reserve? 

Mrs Svarcas: That is correct. 

Senator ROBERTS: That was 1.7 million barrels—nearly two years ago—in June 2022. That hasn’t been reported anywhere, as I understand it. 

Mrs Svarcas: No, I believe it was publicly reported. I’ll be happy to table that report. 

Senator ROBERTS: Did anyone at the department announce that the 1.7 million barrels had been sold? 

Mrs Svarcas: Like I said, I believe it was. I’m happy to be corrected if my evidence is wrong but I do believe it was made public at the time. 

Senator ROBERTS: Thank you. 

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Fuel Stockpiles in a Frightening State!

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Australia is producing less and importing more fuel than before. Australia is obligated to keep a 90 day stockpile of oil by agreements and pure common sense, yet this country hasn’t met this threshold in over 12 years.

Minister McAllister, in a breath of clarity, faces reality and admits that hydrocarbon fuels such as petrol, diesel and jet fuel are essential in our modern economy today, despite the net-zero push. In reserves we have around 38 days or 5 weeks of petrol, 31 days or 4 weeks of diesel and 24 days 3 weeks of jet fuel. Yet Australia’s 90 days of strategic crude oil reserves, which were kept in the United States, are said to have been ‘sold’. Almost all of Australia’s liquid fuel is imported and we are extremely vulnerable to a blockade. Imagine if imports ceased.

We are no longer self-sufficient in fuels, which we should be given what’s under our soil. Imagine if there were no more imports and we had only 4 weeks of fuel left. We should be exploring for and producing more oil instead of relying on China to burn our coal and use up rare minerals like cobalt and copper, to manufacture expensive, unreliable and short-lived “renewables”.

Transcript

Senator ROBERTS: Thank you again for being here today. I refer to a media release from the Department of Climate Change, Energy, the Environment and Water. It is entitled ‘Australia’s fuel reserves boosted to strengthen resilience and supply’. Can you please tell me how many days in fuel stocks—

Senator McAllister: Senator Roberts, I am so sorry. Would you mind giving us the date? That will help officials track down the document that you are referring to.

Senator ROBERTS: It is 14 November 2022.

Senator McAllister: Thank you.

Senator ROBERTS: Can you please tell me how many days in fuel stocks Australia currently has of petrol, diesel and jet fuel?

Ms Svarcas: Under the minimum stockholding obligation, our industries are required to have 24 days of petrol and jet fuel and 20 days of diesel. As at 16 January—I will convert that to megalitres for you—we had 1,699 megalitres, so more than the required 24 days of petrol. We had 2,780 megalitres of diesel, which is more than the required levels under the MSO. For jet fuel, we had 547 megalitres, which again is above the MSO.

Senator ROBERTS: Thank you. Are those dates of fuel reserves in Australia? Are the reserves in Australia?

Ms Svarcas: They are either in Australia or in Australian waters. Yes, they are in Australia.

Senator ROBERTS: So that count is water stocks or reserves held overseas?

Ms Svarcas: Not reserves held overseas, Senator. They are reserves held in Australia or in Australian waters.

Senator ROBERTS: So it is in Australia and in—

Ms Svarcas: And in—

Senator ROBERTS: How many in Australia?

Ms Svarcas: I’m not sure if my colleague has a breakdown of what is in the country.

Senator ROBERTS: Physically on Australian shores right now.

Mr Cano: The stockholding obligation enables the entities to count stocks that are being held within Australia’s exclusive economic zone, and that’s taken as part of the total number. So they are in Australian waters on their way to shore.

Senator ROBERTS: So the waterborne reserves are inside our economic zone?

Ms Svarcas: Correct.

Senator ROBERTS: We’re obligated to keep 30 days—that’s three months of fuel reserves—by international agreements—correct? And plain common sense says we should be doing that. How many days does the 1,699 megalitres of petrol represent?

Mr Duggan: Are you referring there to the International Energy Agency’s oil stockholding requirement, which I think may be different to the international—

Senator ROBERTS: Could you explain the difference?

Mr Duggan: Yes. With respect to oil, there is a 30-day minimum stockholding requirement through the International Energy Agency, but I’d just distinguish. In fact, three months, or 90 days, of net imports is the requirement. I’d just distinguish that, though, from what Ms Svarcas and Mr Cano just gave evidence of, which is the minimum stockholding obligation domestically imposed by the government to ensure fuel security.

Senator ROBERTS: What is the difference between the international agreement for 90 days or three months and our own, hopefully, commonsense based requirements?

Mr Duggan: Crude oil is 90 days—international energy oil—

Senator ROBERTS: And some of that is stored overseas?

Mr Duggan: Yes, it’s held in the US Strategic Petroleum Reserve.

Senator ROBERTS: How is that a reserve for us onshore here? If China or anyone else puts a blockade on us, that’s gone.

Mr Duggan: Senator, I’m just trying to make sure you don’t conflate what are two different frameworks here. The one that Ms Svarcas and Mr Cano were referring to is a domestic fuel minimum stockholding obligation. That applies to petrol, diesel, jet fuel—

Senator ROBERTS: That was in the release from your department on 14 November 2023?

Mr Duggan: That’s correct. And then the International Energy Agency’s 90-days-of-net-imports requirement is around crude oil, and that’s obviously a separate—

Senator ROBERTS: How many days of crude oil are in Australia or within our economic zone on a boat right now?

Mr Duggan: The last reporting was in November, and we reported 50 days of holdings.

Senator ROBERTS: In Australia?

Mr Duggan: No, because as part of that we are able to count the Australian holdings and the US Strategic Petroleum Reserve.

Senator ROBERTS: For someone sitting at home watching this who’s concerned about our oil security in a blockade by a foreign country, what sort of security have we got? Fifty days?

Ms Svarcas: I might just clarify the evidence, Senator.

Senator ROBERTS: Whose evidence? Yours or Mr Duggan’s?

Ms Svarcas: Mr Duggan’s evidence. We don’t currently have any stocks in the US stock reserve. That’s been sold. The IEA days that Mr Duggan has referred to—so the international obligation days—

Senator ROBERTS: The 90 days?

Ms Svarcas: The 90 days. We currently have 55 days of stock in there. I might just explain why it’s 55 days and why we haven’t met the 90 days. The way that’s calculated is on total eligible stocks divided by the net imports. Because Australia has been importing more fuel, it brings down the calculation of IEA days—the 90 days—which is why we’re tracking for 2023.

Senator ROBERTS: Could you explain that again?

Ms Svarcas: IEA days, the 90-day international obligation, are the total eligible stocks divided by daily net imports in the previous calendar year.

Senator ROBERTS: Daily net imports, not daily usage?

Ms Svarcas: Correct. This is why they’re two different calculations. The IEA days are about imports. Because Australia is producing less fuel and importing more, it means, just by basic mathematics, that the IEA day count will start coming off. But that does not mean in any way that we are fuel insecure, because the government has made a number of interventions—measures to ensure our fuel security—including through, as I described, the minimum stockholding obligation that means that our importers and producers must hold a certain amount of stock in Australia. So in fact we are more fuel secure now, despite the IEA days not being the 90 days.

Senator ROBERTS: So we’ve basically got three weeks or four weeks of processed fuels: diesel, petrol and jet fuel? Either on our ground or on ships near our coast?

Ms Svarcas: In our waters.

Senator ROBERTS: That’s all?

Mr Duggan: It’s 38 days of petrol, 24 days of jet fuel and 31 days of diesel.

Mr Fredericks: Senator, can we take something on notice which might help you? I’m pretty confident those numbers are reasonably higher than they have been in the past. I don’t have it here; it’s just a recollection I have. So to give you the full picture—

Senator ROBERTS: You’re saying these numbers are higher than what we’ve had in the past?

Mr Fredericks: Yes. But I’d like to test that, and I’d like to come back to you on notice with that.

Senator ROBERTS: Okay. Minister, has the government done any work to determine what a reasonable and safe level of jet fuel stocks, diesel stocks and petrol stocks is? The country runs on hydrocarbon fuel. Like it or not, that’s a fact—transport, food, agriculture production.

Senator McAllister: You’re right that it’s extremely important. It has been an area of work for the government, and the secretary can talk you through the details.

Mr Fredericks: Yes, I was going to say, Senator, just to be clear, that back in, I think, the middle of last year, 2023, the government set what it regarded as the appropriate minimum stockholding obligations.

Senator ROBERTS: The current government in 2022?

Mr Fredericks: Correct, and my team can correct me if I’m getting this wrong. To answer the question you have posed, it made a judgement about what the appropriate minimum stockholding obligations for those three fuels were. To give you an example, the minimum stockholding obligation for petrol is 24 days. I understand it increases at some stage to 27, but at the moment the country holds 38. So petrol is one where the judgement—and the answer to your question, ‘What’s the minimum required?’—is 24, and current holdings are 38. So that’s a pretty good picture—

Senator ROBERTS: All the figures I’ve just been given are above the requirements?

Mr Fredericks: Correct.

Senator ROBERTS: But there’s still only a maximum of around three weeks, four weeks and five weeks, respectively?

CHAIR: Senator Roberts, we’re going to rotate the call. I believe they’ve taken on notice—

Senator ROBERTS: Could I put something on notice?

CHAIR: I was going to say we can come back to you.

Senator ROBERTS: Can I get the derivation of those figures on notice, please?

Mr Fredericks: Yes. We’ll take that on notice.

Senator ROBERTS: The number of days?

Mr Fredericks: Yes.

Senator ROBERTS: Thank you.

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Australia is vulnerable to running out of fuel

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There is an internationally agreed standard that countries should have a 90 day stockpile of fuel required to keep the place running in the event of a cut in the supply. The Australian Government has failed to meet this stockpile, dipping as low as 21 days at points. While almost all of our fuel comes from overseas through oceans that are becoming increasingly volatile, this puts Australia in a sickeningly vulnerable position.

Transcript

As a servant to the people of Queensland and Australia, I note that while the government’s bill has some merit it raises far more questions than it answers. Before proceeding, I want to compliment Senator Hanson on her comments. At last, someone’s standing up for Australia. We understand that the government has a dilemma, because the government and the Labor Party have deferred—put off—a decision on fuel security for years. In that deferral, putting it off, they have put our nation into an almost impossible position. And still, through this bill, the government shows that it has not faced up to the issue of fuel security. Let me remind everyone: energy is crucial to human progress.

One hundred and seventy years ago was the start of the industrial revolution. Look how far we’ve come. Look at everything in this room. Look at everything around you—in a city, in a town, while you’re driving in a car. That has come in the last 170 years. Why? Sure, it has been human creativity but, above all, it has been the relentless ever-decreasing real price of energy. Electricity was unheard of 170 years ago. Coal-fired power stations and petroleum powered cars were unheard of, undreamt of, 170 years ago. A king 200 years ago would not have lived as easily, as safely, as comfortably, as well, as long as people on welfare today. That shows remarkable human progress.

Senator Hanson and I raised energy security in 2016. The government avoided the decision. Now the Liberal-National coalition want to push it out to 2027. They want to avoid it again. It has deferred the decision again, and Labor will support them. So much for job security and investment across all industries. The key to driving an economy is low energy prices and energy security. That’s what brings investment for future jobs. Now, in response, what we see is a lack of thought and a lazy, lazy approach.

Why? Why do so many so-called solutions of the Liberal, Labor and National parties end up being, simply, a gift of taxpayer money to multinationals who are not taxed? Why does the government have a fetish for labelling bills with the word ‘security’? I’ll tell you why. It attracts votes, even if the bill does not provide security. Australians love security. All humans love security. We’ve had cybersecurity, border security, energy security, internet safety security and data security, often hiding a lack of security. When it comes to votes, Labor and Liberal know the word ‘security’ buys votes. Yet the word itself—security—is not real security. All three tired old parties repeatedly fail to provide real, meaningful, lasting security. They refuse to get back to basics and the truth.

We know that job security is important. We want it beyond 2027, though, for the jobs of refinery workers, construction workers and, when we get back to cheap, reliable fuel, all workers across all industries, including agriculture, not just manufacturing and services. Two refineries have recently shut. That was half of our refineries. We have to do something, then, to ensure future fuel security. The government’s attempts simply reduce the risk for refineries. We understand why. But taxpayers pay for that, and at the end of the deal in 2027 we have nothing to show for it—nothing, zip. So where’s the government’s energy plan? A plan is not a plan without addressing the five Ws and one H. That’s a simple management tool, management concept: Why? What? When? Where? Who? Then comes: How?

This government, like so many Liberal-National and Labor governments, goes straight to the ‘How?’ missing the specifics, the actions, the time lines, the responsibilities, the justification of cost-benefit analysis and a business plan. Government plans that jump straight to the ‘How?’ are not plans, unless the five Ws are addressed. Look at climate. Look at energy. The same applies everywhere. Look at the NDIS. Look at education. They are fundamentals that are really important for our country.

Why does the government repeatedly avoid facts and data and a disciplined, objective approach to policy and, instead, adopt media lines and pander to Greens ideology and drive policies in accordance with then Senator Mathias Cormann’s often repeated dictum, ‘We will fulfil our global obligations’?

What he means is and what he meant was: our obligations to globalists. We are the world’s largest exporter of energy, largest exporter of liquefied natural gas, second largest exporter of coal. We were the largest and we still have the highest quality coal but we have been overtaken by Indonesia as the largest exporter. Yet we have the world’s highest domestic gas prices and electricity prices, now three times that of countries who use our coal to generate their electricity. Three times our prices using our coal—why? Why can’t we use our own gas domestically? Why can’t we build a transnational pipeline to bring North West Shelf gas to the east and convert it to produce liquid fuels like petrol and diesel? The gas is suitable. Why can’t we use the gas itself to power cars directly? Why can’t we brainstorm and discuss alternatives, many alternatives, in the national interest?

Consider what the government says is a solution. The government will pay up to $2 billion to multinationals to keep them here. Remember the car makers, as Senator Hanson reminded us? We paid them billions to stay here and then they left and, as a final insult, sold their factories and their land to developers and pocketed the cash, after we gifted them so much taxpayer cash. Is this a solution, when in 2027 the oil companies can simply leave, run away, after we give them up to $2 billion along the way? Liberal-Labor put off making a decision and now, when our country has self-inflected deeper problems, make a half-baked solution that really defers it again until 2027, when we will have to face up to it again. Why? Because we haven’t faced up to it now. Why? Because the government lacks the will to listen and to do something novel and appropriate for the people of Australia and their national interest. Just as Senator Hanson recounted, Norway is doing something in its national interest.

In 2027 then what? China and our Asian competitors will, rightly, continue using hydrocarbon fuels like natural gas, coal and oil. For decades, we have had a small volume market. How can we compete with Singapore and China in refining fuels and do so with fair wages for good workers in this country? Here is a hint: energy. Singapore lacks any resources apart from human resources—a well-educated, industrious people—but it has solid stable governance that puts Singapore first. It has a superior tax system, a superior education system, superior governance focused on Singapore’s national interest.

China, it takes a different strategy, one that won’t last but here is what it does: it exploits labour, sacrifices the environment, sacrifices worker safety. We can compete because we have Australian management and leadership; we just need to let it have a go—our energy combined with our people, Australians, Australian workers and our executive leadership in business.

Other facts need consideration. The government repeatedly bet on technology that’s unproven and very expensive. They’re dreaming about hydrogen that currently costs about $6 a kilogram to produce and say they have a vision for $2 a kilogram. Even at $2 a kilogram, the electricity cost is $200 per megawatt hour, four times the price that coal can do it now. So in their dream, they’re going to send us bankrupt. Solar is another one of their dreams—dependence on China, who makes the damn things, cost, reliability, unreliability, instability, the loss of jobs. This is what the government is dreaming about. Wind—same applies—dependence on China, cost, reliability, stability, instability and loss of jobs. China, meanwhile, continues building coal-fired power stations. In its Paris Agreement, it has to do nothing until 2030 and then maybe it will think about it.

We have abundant clean goal and gas; we should be the super power, as we were when international investors flocked to the Hunter Valley, Central Queensland and Victoria to build aluminium refineries near cheap abundant coal. Those jobs are gone and, under current Liberal-Labor-Nationals policies, the few that remain in aluminium are doomed. Instead, the trio put bets on unproven, pixie farts for energy and stake Australia’s energy on rainbow-coloured unicorns in some imaginary Garden of Eden in the future. It abandons workers and the people of Australia. It abandons our country. It is hollow rhetoric keeping people ignorant, hollow rhetoric destroying our economy, hollow rhetoric destroying our national future.

So, let’s consider some possible options. What about this? Create a corporation to run the refineries. Issue government bonds, with bonds investing in the corporation in the same way we do with low-income housing. Buy the damned assets. Use the bond funds to buy oil and build additional fuel storage. Modernise the refineries to produce high-quality fuel to international standards. Fill up the oil tanks at startup to eliminate risks in the market. Once it’s up and running, sell 49 per cent of the ownership in the refinery on the stock market and invest the other 51 per cent with the Future Fund. That’s its job: holding assets on behalf of the Australian people to produce future income for future generations and ensure future fuel security. Government absorbs the initial risk—in the proven refineries, anyway—with proven personal enterprise, with oil industry executives managing the business and with proven executives and proven workers running the show, combined with accountability from the stock market.

The benefits are that Australians own the business, taxes stay here and the overall cost to taxpayers is considerably less, because we’d sell off half the enterprise. And the purchase price for an abandoned asset would be very low. People would buy shares because the risk is in setting up the venture and the asset would be stable. Fuel storage would work exactly as it does now on our overseas storage: buy when prices are low and sell when prices are high, to drive down prices at times of high prices, as with our existing International Energy Agency commitments. Major fuel producers would buy shares to get access to trading in stored oil. We could make extra money storing oil for other nations—Pacific countries, Indonesia.

Alternatively: fuel security is ultimately a matter of defence security. Has anyone in the government considered taking the refineries and getting the defence forces to operate the refineries in 2027? Or the government could, as a minimum, simply take the refineries’ land if refiners close down and leave. If they shut up shop after we gift them billions, why not take their real estate? We need some skin in the game, as Senator Hanson said. We need something for our money. Get the land as partial payment.

Another issue: tax oil companies fairly. Stop giving foreign multinationals a free ride. They exploit our resources, use our assets, use our services, use our trained people, and rely on our defence forces and our laws—for free, damn it! They don’t pay for any of it. Fix the tax system. Start with taxing multinationals. Jim Killaly, the former deputy assistant commissioner for taxation, in charge of large companies and foreign taxation, said, in 1996 and in 2010, that 90 per cent of Australia’s large companies are foreign owned and since 1953 have paid little or no company tax. The government needs to establish honest energy policies across all our energy needs and invest in infrastructure to restore our nation’s productive capacity. It needs to restore national sovereignty, to restore good governance based on data and facts and on putting the national interest first.

All these would be enormous changes from current government approaches—decades of such approaches. They would be a return to our nation’s roots and the time when Australia led the world in per capita income. Instead, the government’s approach is a short-term bandaid at best. And 2027 is not the end. We need to think and prepare for beyond that. Liberal, Nationals and Labor governments, for the past three decades, have thought that ‘long-term’ means just two budget cycles: two years—that’s it. Australians deserve better—far, far better.

This bill is not even a bandaid. It’s a deferral, a putting off. It’s Labor, Liberals and the Nationals playing hide-and-seek, hiding the reality from the public. It confirms this government’s incompetence and laziness and continues decades of poor, dishonest and accountable governance. Now, I’m all for personal enterprise—or, as some may say, private enterprise. I’m all for security. Instead of repeated gutless bandaids and short-term fixes, where’s the long-term solution? Where’s the vision? Where’s the national interest? Let’s secure our nation’s future with a comprehensive solution that addresses the basics for all Australians: job security, industry security and national security.

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