Philbo, This is a disgrace. It needs to be addressed urgently....

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14/05/18

18:47

Post #: 33086425
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Originally posted by Philbo13 ↑

Latest government figures show Australia has just 22 days supply of crude oil, 59 days of LPG, 20 days of petrol, 19 days of aviation fuel and 21 days of diesel.
Overall, the country has just 49.6 days of net coverage which is well below the 90 day supply Australia and other nations agreed to store under an agreement with the International Energy Agency.
The last National Energy Security Assessment was in 2011, when Australian reserves were well above the 90 day requirement.
"With the supply and demand dynamics of global energy markets changing rapidly and nearly a decade since the last National Energy Security Assessment, the time is right to relook at and rethink Australia’s fuel security," Mr Frydenberg said.
KIP BUL WONT BE LEFT OUT IN THE COLD TOO LONG ME THINKS...Australia has to shore up more Resources if it’s own Cheers....

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Philbo,
This is a disgrace. It needs to be addressed urgently. If there was a dust up in the Middle East the Govt would have to immediately incentivise the Australian oil and gas industry to get cracking and drill.

Kip,
The volume today spoke volumes. Sooner or later there will be a GSA and the sp will reflect the numbers. And numbers don't lie. That is the beauty of the CSG business. You get paid for quantified energy. And energy prices are going higher.

Venezuela is about to break up....let alone all the other factors.

BUL Price at posting: 15.0¢ Sentiment: Buy Disclosure: Held
8 Upvote

0 Great analysis

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