00:02On a wide open road in a wide brown land,
00:06diesels considered the lifeblood of the Australian economy.
00:09That's not the Australian way, I can tell you.
00:11But in less than a month, prices have doubled
00:14and in some towns, supplies are running out.
00:17The war in the Middle East is disrupting supply chains.
00:21It's pushing up fuel prices.
00:22In response, the Prime Minister is bringing together
00:25state and territory leaders to identify where the shortages are
00:29and how to get the fuel there.
00:30The operation to be coordinated by a new supply chain czar.
00:35Of course, we're preparing for every contingency
00:39and we'll continue to do so.
00:41We already have a fuel czar.
00:43His name's Chris Bowen and he needs to do his day job.
00:47Supplies are solid, according to the government.
00:49I don't think rationing will be part of that consideration.
00:52It's not necessary at this stage.
00:54Demand is the problem, with panic buying and stockpiling
00:58causing some servos to run dry.
01:00We have seen some, you know, what I've called un-Australian activity.
01:04You know, buying jury cancelling on Facebook Marketplace.
01:06That's just, that's just nuts.
01:08That's not an answer to this problem.
01:10We need to be doing more here, as I know others have said,
01:13to bring on exploration and refining of fuels here in Australia.
01:17With only two refineries left, Australia imports 90% of its liquid fuels.
01:23These refineries, we had six when Angus Taylor was the energy minister,
01:27two by the time that he left.
01:29Now well into its third week, the war is taking a greater economic toll.
01:33In a major speech tomorrow, the Treasurer will reveal new modelling,
01:36showing economic growth will fall further and inflation could rise above 5%,
01:42back to what it was in 2023.
01:45But this time around, there's little appetite for handouts,
01:48with the Treasurer favouring spending cuts and tax reform in his upcoming budget.
01:53The economic consequences of this conflict are very serious,
01:58extremely serious and potentially enduring.
02:02And Australians will be paying the price.
02:05Finally, thank you.
02:05I'm going to see my second point.
02:05I'm looking for myself to do the same thing with the new trees.
02:05A smile.
02:06I'll see you next time.
02:06You will see the same way.
02:06I'm wishing for myself.
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