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The Federal Government has made its first major move to shore up the nation’s fuel supplies and ease pressure at the pump. It is taking on financial risk in a bid to encourage private operations to source cargos of fuel on the increasingly volatile international market cause by the war in the Middle East.

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00:02Record high prices, heaping pressure on the Prime Minister.
00:07So we want more fuel here and we want to make sure it gets to the right place.
00:12Today, announcing plans to introduce new powers to underwrite the delivery of extra cargos of fuel
00:19to ensure shiploads continue arriving regardless of the cost.
00:24These powers will be used to help acquire the additional supply that's so valuable for Australia's fuel security.
00:32With the Middle East conflict casting doubt over Australia's long-term fuel supplies,
00:37the Energy Minister insists stocks remain steady with 39 days of petrol and 30 days of diesel and jet fuel
00:46in reserve.
00:47While the fuel is flowing strongly out the door, especially to regional Australia,
00:53it also continues to flow in the door.
00:56Once again, Australians being urged not to panic buy petrol or essentials.
01:01This isn't toilet paper that's being piled up in some garages.
01:06It's actually fuel and that's not sensible on a range of levels.
01:11Meanwhile, the Queensland Government is looking to fast-track a major oil and gas project in the state's south.
01:18This current fuel crisis that we're experiencing has really rammed home that message that we need to be producing more
01:26of our own oil.
01:27But that could take years. With the Federal Government focused on locking in supply, the opposition is targeting the cost.
01:35Make sure I've got enough money. Actually, I left the phone in the car.
01:39Repeating calls for the Government to halve the fuel excise to save motorists around 25 cents a litre.
01:46They're not prepared at this point to go with us. And that's incredibly disappointing for hard-working Australians.
01:53Do your job, Prime Minister. Move the fuel and slash the tax.
01:57The Prime Minister refusing to rule it out.
02:00We always look at cost of living measures.
02:02The Government will introduce its new fuel security powers on Monday, coinciding with a meeting of National Cabinet.
02:10The opposition appears open to supporting the legislation, with Shadow Energy Minister Dan Tehan saying extraordinary times could warrant extraordinary
02:21powers.
02:21The Prime Minister Datukes is the case to be carried out by the government's government and government's government authorities to
02:22justify the people's government authorities.
02:22So I've seen a few examples of the law that is also very complicated and transparent, particularly in the United
02:23States.
02:23I'm like, let's pray for this.
02:24Although we have to say hiριospace��면.
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