Petrol price, refineries, Ukraine, Russia, China, Putin, inland rail
While everybody is busy getting hot under the collar about the current price of fuel, which is likely to prove a temporary phenomenon depending on the longevity of the Ukraine conflict, nobody seems interested in the much more serious long-term problem of fuel security.We are now down to two remaining refineries and a fuel supply pipeline of somewhere between 60 and 90 days.
If the oil companies won’t make the necessary investment, even if subsidised, which appears to be the case, then the government should put in its own facilities, and use them to turn Australian oil into petrol and diesel for Australians.And while it is doing that it should restrict the distribution of that petrol and diesel to only fuel outlets that are prepared to abandon the weekly price cycle nonsense that we are forced to endure.
Purchasers of petrol are currently paying the federal government an excise of 44.2¢ for every litre of petrol or diesel they purchase at the pump. Obscene.European leaders are still in denial over Ukraine, desperately hoping that the problem will go away in time for them to go on summer vacations with a conscience that does not trouble them excessively.Advertisement
Therefore, if the West is serious in wanting to stop the unprovoked and bloody invasion, it will need to be prepared to go beyond sanctions and accept the risk of some military confrontation.There has been a fair amount of media conjecture about China’s position in the Russia-Ukraine conflict, but one aspect of China’s involvement deserves more emphasis .
Western Australia should not be penalised for outsmarting the eastern states on finance and commercial matters. The treasurers have failed to sensibly customise taxation and transition from stamp duty to land tax to provide budget revenue security.
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