News

Australia’s fuel crisis will endure long after the end of the Iran war, the head of the International Energy Agency says, in a stark warning that life won’t “get back to normal” for some time, as Anthony Albanese pleads with the mining industry to prioritise national security and be “constructive” with government.

Mining and farming industries face more turmoil as plants on either side of Australia making a key explosives and fertiliser ingredient shut down.

Mining magnate Gina Rinehart says that in the midst of a global oil shock, the federal government should stop treating petrol and diesel as a “luxury purchase” and end the 52 cents per litre excise tax.

Morgan Stanley says Australia is one of the countries most exposed to the fallout of an extended conflict in the Middle East, pointing to an outsize reliance on imported oil and warning of a hit to earnings.

The Australian government must get real on the needs of business to develop here.

Australia’s 90-day fuel reserve target is based on net imports, not total use. The argument is that real fuel security would come from boosting Australia’s own oil and gas production and refining capacity.

Australia’s fuel security vulnerabilities are no longer theoretical. Despite official assurances that supply remains stable, concerns from farmers, regional communities and supply chain leaders suggest the country is dangerously exposed. Industry leaders argue years of ideology-driven energy policy and ignored warnings have left Australia vulnerable at a time of growing geopolitical and economic risk.

Think of wind, solar, and batteries as the three legs of a stool supporting the Net Zero transition program.

The Environmental Defenders Office secured a $6.5m loan from a secret donor for a failed challenge to Santos’ Barossa LNG development. The loan has been wiped and its benefactor remains unknown.

Gerard Holland, CEO of the Page Research Centre, speaks with 2GB about issues raised during a recent Senate hearing, outlining his perspective on electricity pricing, grid stability and Australia’s energy transition.

Under the federal Albanese government, Australia is still steadfastly committed to the policy of Net Zero emissions. Higher costs are imposed on Australians to reduce emissions.