Good morning Dorian,

So in summary where does this place Australia in terms of fuels at the pump. Buy, Hold on and wait. We saw fuel prices on the news below 80 cents per litre.

not seen since 2000.

Old

It would be an opportunity for Australia to pull our head out of the sand to catch up & stockpile fuel to the international standard on 90 days reserves. Currently we are at 9 days!

President Trump, certainly has some good oil advisers, he is buying 75 million barrels of oil, for Strategic Petroleum Reserve

Link below to this story
https://www.marke****ch.com/story/trump-seeks-to-add-75-million-barrels-of-oil-to-strategic-petroleum-reserve-amid-historic-price-crash-2020-04-20

Edit to say. It looks like the above link did not work, something about they do not like me, not being able to cook, as I refuse to give them cookies
Here is another link
https://www.indiatoday.in/world/story/us-to-stockpile-75-million-barrels-of-oil-to-strategic-reserve-donald-trump-1669205-2020-04-21

In my opinion, this would be a good time, for our leaders to nationalise the Australian oil industry, instead of relying on overseas (Singapore), where we buy our fuel from

1. Build the storage facilities, with the skilled workers who are now either on the dole, or waiting for full employment again
2. Buy crude oil direct from the oilfields, while the price is low
3. Build refineries (or appropriate any existing refineries), to refine the crude oil
4. While we are at it, we may as well build some oil tankers, as they are probably the easiest ships to build

Although I am sure that in the future, (do not know when), we will no longer need a lot of oil, as we turn to electric vehicles, and renewable energy
In my opinion, it is better to create work, than to just give out government financial help payments
We could then place oil where it should be, (in our sunburnt country), as a backup to our energy requirements

Opps, fell off my soapbox, again

 

 

-- Edited by Tony Bev on Tuesday 21st of April 2020 02:26:38 PM

Around 1972 I was working in Adelaide in an essential industry. Along came the oil crisis and I was fortunate enough to be allowed to get fuel and drive to and from work. Adelaide streets were deserted. Everyone with a V8 sold them for peanuts and bought 4 cylinder cars. That was almost 50 years ago. They said then the world was running out of oil. I guess it is running out of fuel. They told us so, so they must be right!!!!! So now the same folks are selling us climate change. So in 50 years will we look back and say the same thing? I hate it when folks who rely on everything made from petroleum accuse producers of whatever pop's into their small brains. Oil greases the world we live in. Without it we would all be much worse off.

If I have read/interpreted the below snip correctly

1. The International Energy Agency, says we should have 90 days supply of fuel, on our soil
2. Our Australian bean counters, or their bosses, are counting any fuel, which is in transit, inside an oil tanker
3. Regardless of which numbers we use, we have either 50 or 80 days of fuel
   
   
4. Mr Taylor (the Federal Energy Minister), has told ABC Radio Brisbane the dramatic drop in oil prices is a good opportunity to look at how Australia can meet that 90 day benchmark
   
   
5. The Federal Energy Minister, now admits that we actually do not have the storage facilities, to store 90 days of fuel, on Australian soil

Link below to the story, which is hidden in a live update, which is why I made a snip

https://www.abc.net.au/news/2020-04-21/coronavirus-australia-live-news-national-cabinet-virgin-airlines/12166868