Josh Frydenberg has announced a National Energy Security Assessment, which will be tasked with investigating how Australia’s record-low domestic emergency fuel stocks can be ameliorated.

The scene is looking rather bleak for Australia, with the country possessing just 49.6 days of net coverage fuel supply. This is well below the 90 day supply Australia committed to under an agreement with the International Energy Agency.

Senator Jim Molan agrees governments of all persuasions have abrogated their responsibility  in the fuel arena.

“The vulnerabilities are very, very high,” the Senator explains.

Senator Molan suspects that previous governments have relied on America’s naval superiority to ensure fuel supply was kept at safe levels. But now the precariousness that comes with an over-reliance on globalisation is hitting home.

“We have gotten ourselves into this situation because we’ve said we’ll let the market decide the efficiency of the flow of liquid fuel into this country,” says Senator Molan.

“That’s just like saying we’ll let the market decide the size and nature of the Australian Defence Force.”

“Ultimately, if we don’t have fuel and missiles to take into the air or sea with us, then we have a hole in our capability.”

Josh Frydenberg has announced a National Energy Security Assessment, which will be tasked with investigating how Australia&rsquo;s record-low domestic emergency fuel stocks can be ameliorated.
The scene is looking rather bleak for Australia, with the country possessing just 49.6 days of net coverage fuel supply. This is well below the 90 day supply Australia committed to under an agreement with the International Energy Agency.
Senator Jim Molan agrees governments of all persuasions have abrogated their responsibility&nbsp;&nbsp;in the fuel arena.
&ldquo;The vulnerabilities are very, very high,&rdquo; the Senator explains.
Senator Molan suspects that previous governments have relied on America&rsquo;s naval superiority to ensure fuel supply was kept at safe levels. But now the precariousness that comes with an over-reliance on globalisation is hitting home.
&ldquo;We have gotten ourselves into this situation because we&rsquo;ve said we&rsquo;ll let the market decide the efficiency of the flow of liquid fuel into this country,&rdquo; says Senator Molan.
&ldquo;That&rsquo;s just like saying we&rsquo;ll let the market decide the size and nature of the Australian Defence Force.&rdquo;
&ldquo;Ultimately, if we don&rsquo;t have fuel and missiles to take into the air or sea with us, then we have a hole in our capability.&rdquo;

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