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Australia's minimum fuel reserves would double under a coalition plan to boost storage capacity in response to the global oil crisis. The proposal would mean Australia stockpiles at least 60 days of fuel but would also increase prices at the bowser.

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00:01The opposition leader making some noise to draw attention to Australia's fuel reserves.
00:10We need to double the stock holdings of fuel in this country.
00:14The opposition's $800 million dollar policy would increase Australia's fuel stocks to 60 days
00:20with at least 1 billion litres of additional storage capacity.
00:24A bid to secure long term fuel supply by bringing Australia closer to 90 days of storage
00:31as recommended by the International Energy Agency.
00:34But the proposed funding would contribute to not cover the cost of the extra storage
00:40meaning drivers would be forced to chip in.
00:43The cost of a centilitre for Australians, that they're going to have the fuel they need in a crisis like
00:49we're facing now.
00:49You've got to admire the irony of Angus Taylor, who was the minister in a government where four out of
01:00six of our refineries shut.
01:02Labor will make energy resilience a feature of the upcoming budget.
01:05But for now, it's firmly focused on securing the diesel, petrol and jet fuel needed during the global oil crisis.
01:13Foreign Minister Penny Wong has embarked on a regional tour visiting key suppliers, Korea, China and Japan,
01:20making it clear to her counterparts that Australia can't fulfil its LNG and coal deliveries without fuel.
01:27If we are to be a reliable supplier, we need others to be reliable.
01:31The Federal Government putting those words into action, shelving an idea to increase taxes on gas giants,
01:38amid concerns it could impact trading relationships during a time of global instability.
01:44Reliability and predictability is something they seek.
01:47Trusted partners in an unpredictable world.
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01:53In conjunction with United Arm catching up to the上 of 18.
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