Australia Discusses Increasing Domestic Petroleum Refining Capacity
Australia faces challenges with petroleum self-reliance due to the closure of domestic refineries. Current storage relies heavily on refined petroleum extracted from other countries. A proposed $11 billion refinery project in Gladstone is under consideration to address these energy security concerns. The discussion includes the impact of increased Australian oil extraction and refinery scale on diesel and petroleum storage capacity. There is a note that subsidized domestic products may remain more expensive than international market values. Increasing supply is viewed as the primary method to address high costs for consumers. The government aims to prioritize Australian sovereignty regarding fuel availability despite potential economic premiums.
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Developing
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Sources · 7 independent
2GB Sydney
“The best storage we have is the stuff that we're pumping out of the ground right here in Australia so we don't have to rely upon other countries.”
2GB Sydney
“As far as costs again, let's say we start to get some more Australian oil extracted. We get a few more Australian refineries at greater scale.”
2GB Sydney
“I think we do need to take some steps as a government to look after Australia. I think we've been to say to the Australian people very clearly, we will do whatever it takes to protect Australia from these storms.”
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