.@inverted.. Agreed mate. That is the point I was trying to...

.@inverted.. Agreed mate. That is the point I was trying to make. Normally I am totally against government getting involved in commercial industry.
Quote:
Australia’s fuel security is far more precarious than we might realise. Not only do we not have the internationally mandated 90-day stockpile, but the ongoing closure of Australia’s refineries means we are on track to be 100% reliant on imported petroleum by 2030.

Australian refineries import roughly 83% of the crude oil they process from more than 17 countries, mainly in Asia (40%), but also Africa (18%) and the Middle East (17%). We are a significant oil producer, but export 75% of our crude production, with the largest recipients being Indonesia and Singapore.

At the same time, the importance of importing refined petroleum from overseas is only increasing as our local production declines.

If China can control the Straits of Malacca, they can starve us out. Even in this day and age, 40% of world trade passes through the Straits. Just as the Japanese before them, they understand this.

FACTBOX - Malacca Strait is a strategic 'chokepoint' | Reuters

It is later than most of us think....Marum.