Source: Prime Minister of Australia
ANTHONY ALBANESE, PRIME MINISTER: Good morning. This morning, I convened National Cabinet for an important update on Australia’s fuel security. This is the fifth time that National Cabinet has met since the conflict in the Middle East began on February 28. We know, as I’ve said before, while the conflict is a long way from home, we are not immune to its impacts. And the longer the conflict goes on, the more enduring the impact will be, the economic tail. We are very hopeful that the positive signs of a de-escalation and peace in the region will lead to a conclusion. That is in the global economy’s interests, and it is therefore in Australia’s interest as well. We’re able to report pretty positive news: 43 days of petrol, which is five days more than were there on February 28 when the conflict began. Importantly, 38 days of diesel, which is what there was most concern about, people concerned about their capacity to plant crops, et cetera, was a creating a great deal of concern particularly for the agricultural community, that’s six days more than was in place on February 28. And 31 days of jet fuel, which is two days more than was available in Australia on February 28th.
In addition, I reported last week when I was in Perth the arrangements with China for the import of jet fuel. China has placed some restrictions on exports, but after a discussion between myself and Premier Li and after, confirmed by Foreign Minister Wong’s visit to China, that we were able to get some 660,000 barrels of jet fuel, is confirmed for Australia. All of that is good news for Australia. We know, though, this is volatile and uncertain times, and I want to make it clear that when the conflict ends, that doesn’t mean that the economic tail concludes. There will be a period of time before ships are able to go through the Strait of Hormuz. It’s also the case that the ships that are stranded there at the moment have to go offload their fuel or their cargoes that can take up to 30 days, and then go back to collect more cargoes, and then go back to their place of destination. So, there’s a tail here as well, but it was a positive meeting. And supply is looking secure into July. And I do want to thank the Australian people for agreeing to do what we ask them to do, which is the hoarding of fuel has stopped. People are taking just what they need. And that means that for those sectors who rely particularly upon diesel, it is making a difference.
< CHRIS BOWEN, MINISTER FOR CLIMATE CHANGE & ENERGY:
< JOURNALIST:
< PRIME MINISTER:
< JOURNALIST:
< PRIME MINISTER:
< JOURNALIST:
< PRIME MINISTER:
< JOURNALIST:
< PRIME MINISTER:
< JOURNALIST:
< PRIME MINISTER:
< JOURNALIST:
< PRIME MINISTER:
< JOURNALIST:
< PRIME MINISTER:
< JOURNALIST:
< PRIME MINISTER:
< JOURNALIST:
< PRIME MINISTER:
< JOURNALIST:
< PRIME MINISTER:
< JOURNALIST:
< PRIME MINISTER:
< JOURNALIST:
< PRIME MINISTER: