Australia Sputtering On Empty
Australia’s fuel crisis is getting worse and the Geelong refinery fire that broke out last night could not have come at a worse time. One of our last two oil refineries is still burning, Energy Minister Chris Bowen stood in front of cameras smiling about it, and we’re already sitting at Level 2 of the National Fuel Security Plan with diesel shortages hitting farmers and regional areas hard.
Anthony Albanese’s response to all of this was a $20 million ad campaign telling us to pump up our tires, remove our roof racks, and stop at the first click when filling up. A dairy farmer filmed himself removing the seat from his tractor in response. Cannot fault his logic.
We closed six of our eight refineries between 2012 and 2021 because importing was cheaper. We now rely on imports for 80 to 90% of our fuel. We have about 39 days of petrol and 29 days of diesel in reserve. Grocery prices are up 20%. And Albanese’s national address — only the fifth such address since World War II — was essentially a nothing burger followed by a website telling you to combine your trips.
The AI translation of the four level crisis plan I ran puts us at roughly “the engine is making a weird clicking sound but the car is still moving — how f**ked are you? 15%.” Level three is coming. Here’s more from Bearing.
