Very good article in the Australian, Business section today. (Sorry, I don't subscribe, so don't have access to article]. But the gist of it was that the Govt has been advised that there is a serious risk to national security due to our VERY low fuel supplies. The figure of 17 days supply of fuel being held in reserve was quoted. Went onto point out how our refinery plants in the last decade, have gone from supplying 40% of our local usage down to a mere 10% today. We are at the mercy of overseas suppliers now and should that be halted by either war/natural disasters/political unrest etc, we are basically screwed. The Govt will immediately step in and freeze that reserve for emergency services/national security forces etc. The rest of Oz will come to a grinding halt.
I don't think that it is too far fetched to think that if the Arck is as big as forecast, that the Govt may step in and enforce that refineries are built or brought out of mothballs to rectify this abysmal situation. Surely, if there is a guaranteed massive supply of crude available, this would be the obvious answer?
LNC Price at posting:
99.5¢ Sentiment: Hold Disclosure: Held
