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Federal Government to spend $94 million stockpiling fuel in the US - Politics - ABC News (Australian Broadcasting Corporation)
Govt to spend $94 million on fuel from the US now that its so cheap.
I saw unleaded at 87 cents a litre today - talk about time warp.
Cheers
Why oh Why is it, when in Australia we have an idea of strategic importance the first course of action is hands in the air and " it's too hard". Or " we can't upset interest groups ". If we can form a National Cabinet in time of War and Pandemic, then we can have a Strategic National Cabinet for strategic projects in the National interest. And if it is deemed strategically necessary, just do it. Too late when the War starts. Could be the difference between being independent and free, or not.Quote:
Originally Posted by Saitch
what size storage do we want?
don't we have some unused fuel farms around Australia.
don't we have some closed fuel refineries with their storage tanks?
I saw only a few weeks ago a disused fuel farm in Auckland where they had collapsed a number of old tanks ...must have used a vacuum.
but there are a lot of fuel storage areas ie tanks available.....unless they want it all in one place.
It would not be hard to stop Australia in less than less than a month - These excerpts from S&P Global Platts report 2019- Analysis: Australia unlikely to build new oil refineries despite heavy import dependence
Building large new oil refineries uneconomical in Australia: interim report
To continue relying on Asian refining hubs for refined product supply
To meet IEA's 90-day crude stockpiling requirements by 2026
The building of new refineries is uneconomical, which means that Australia will remain a large import market for clean products from refining hubs like Singapore. Australia closed three of its refineries in the past 10 years, and the remaining four refineries are expected to stay viable.
"Mega-refineries in Asia are always likely to be more competitive than Australian refineries. Already the refineries in major Asian fuel hubs are better suited to processing the type of oil Australia is producing on the North West Shelf," the report said.
"It could also lead to market conditions where oil companies may choose to close existing refineries if there is a surplus in global refining capacity," it added. Domestic refineries met 62% of Australia's gasoline demand, 33% of diesel demand and 40% of jet fuel demand in fiscal year 2017-2018.
Australia derives around 90% of its fuel requirements from imports, and all domestically produced oil would meet only 25% of current demand if it was refined within the country. Overall, Australia imports 60% of its refined product demand and 80% of the crude oil feedstock for domestic refineries.
Currently, Australia does not comply with the oil stockholding guidelines of the International Energy Agency that requires a 90-day obligation based on the previous year's imports. In November 2018, Australia had 53 days of stocks and the final Liquid Fuel Security Review will propose means to return to compliance by 2026, the report said.
"Apart from New Zealand, Australia is the only net importer of oil that is a signatory to the IEA and does not hold either industry-mandated or government-owned stocks. Other IEA countries without stocks, like Canada, are net oil exporters," the report said.
It said Australia on average stocks between 16-25 days of refined product supply, representing around 50%-75% of total storage capacity, although it can vary across states. Comparatively, Europe enforces a minimum of 61 consumption days of oil, including 31 days of refined product.
So if a nation blockaded our oil tankers we would be up a certain creek without a hand powered propulsion device. No forward thinking by successive governments worried that building a new refinery would put the greenies in a tiss.
That article above noted fuel will be stockpiled in Aus now for 3 months supply. About time.
Cheers
Apparently storing some here & some in the USA initially. I read an article in the distant gloom that the yanks had obtained a lot of surplus Tankers & anchored them offshore somewhere for storing oil for their own use.
See how AULRO can alter the world? He must have read the post on here earlier.[bigrolf]
Quote:
Originally Posted by rick130
JEEEZUZ Rick! You're not considering that part of your life already are you?[biggrin]
Its good they are doing something, but I still don't see why we can't store 90 days worth. Yes it will cost money, but so what? We can afford it. Other countries do it, so why can't we? This is real national security. Let's stop making 'too hard' excuses and just do it.
Here's a coronavirus TV question: What does the racing channel show when there is no racing? Endless repeats?
If ya're talking Supercars, it's "virtual" racing, I'm watching Bathurst qualifying as we speak.Quote:
Originally Posted by DiscoMick
Pickles.