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600 petrol stations across Australia ran out of fuel this week according to Bloomberg
Just over 20 years ago we had 8 refineries and produced 98% of our own fuel. Today we have only 2
The governments emergency plan in 2020 was to buy 1.7 million barrels and store them in underground salt caverns in Texas. But only 2 years later they sold it all . It was never replaced. Australia currently has zero government owned oil reserves anywhere on earth and no tankers to bring any home anyway.
Our government’s message today is to “be a good neighbour, don’t panic buy”
Mid April is when the last confirmed tankers arrive. after that nothing is booked.