| Morning Friend
I just wanted to share with you our latest blog post. Bit of a rant with an underlying political message but the more people that know about this the better. Let me know what you think.
It came to our attention some time ago about Australia's rather precarious position regarding fuel stocks. We were shocked.
The International Energy Agency (IEA) which Australia is a member of, imposes a condition that all member countries have 90 days cover for petroleum refined products. This 90 day period imposes a safety buffer of fuel stocks should refineries be unable to operate due to break downs or worse still a cut in crude oil supplies.
How is it then that then that diesel consumption cover for the whole of Australia fell to (13) days, the lowest in thirteen years and beyond. Having stocks run down to that level is a huge threat to our economy.
When stocks are at that level, even a simple refinery breakdown, shipping delay, industrial unrest, act of terrorism in Asia or elsewhere, would be catastrophic for our economy.
Australia is the only country within the IEA & APEC group not to have a Strategic Fuel Energy Reserve. How long will this be allowed to go on? ...[click to continue]... | 
