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Petrol could hit $3 per litre (Read 3130 times)
freediver
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Re: Petrol could hit $3 per litre
Reply #30 - Mar 7th, 2026 at 8:44am
 
Frank wrote on Mar 7th, 2026 at 8:38am:
So what happened to Chris Bowel's Glorious Energy Transition?

Note that Iran is targeting neighbouring oil refineries and gas ports, NOT wind and solar farms.
Why?
The world runs on fossil fuels?  Shurely shome mishtake.




Because a centralised system makes it more vulnerable to attack.
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Frank
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Re: Petrol could hit $3 per litre
Reply #31 - Mar 7th, 2026 at 9:07am
 
freediver wrote on Mar 7th, 2026 at 8:44am:
Frank wrote on Mar 7th, 2026 at 8:38am:
So what happened to Chris Bowel's Glorious Energy Transition?

Note that Iran is targeting neighbouring oil refineries and gas ports, NOT wind and solar farms.
Why?
The world runs on fossil fuels?  Shurely shome mishtake.




Because a centralised system makes it more vulnerable to attack.



Why is Australia's energy supply is centralised elsewhere?

Why isnt Australia, energy superpower, self reliant for every form of energy?  What madness has made Australia import 90% of its fuel?
What Gretaesque madness rationalised such stupidity?
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freediver
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Re: Petrol could hit $3 per litre
Reply #32 - Mar 7th, 2026 at 9:10am
 
Because we want to be rich, not self sufficient. Go weave your own baskets if that's what you want.
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Frank
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Re: Petrol could hit $3 per litre
Reply #33 - Mar 7th, 2026 at 9:30am
 
freediver wrote on Mar 7th, 2026 at 9:10am:
Because we want to be rich, not self sufficient. Go weave your own baskets if that's what you want.

Grin Grin Grin


So being energy self-sufficient in the 21st century is now hippy dippy 60s basket weaving!

NOT shipping it out and then shipping it back, rather than refining it here would make us poorer.
You have caught what TGD has, fd.

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freediver
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Re: Petrol could hit $3 per litre
Reply #34 - Mar 7th, 2026 at 9:42am
 
Quote:
So being energy self-sufficient in the 21st century is now hippy dippy 60s basket weaving!


It is the same thought process, applied to a nation rather than a person, usually associated with stoned hippies who have come to realise they don't like backbreaking work just to feed themselves, but think it will all work out if everyone in the country does it.
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Bobby.
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Re: Petrol could hit $3 per litre
Reply #35 - Mar 7th, 2026 at 9:52am
 
Frank wrote on Mar 7th, 2026 at 9:30am:
freediver wrote on Mar 7th, 2026 at 9:10am:
Because we want to be rich, not self sufficient. Go weave your own baskets if that's what you want.

Grin Grin Grin


So being energy self-sufficient in the 21st century is now hippy dippy 60s basket weaving!

NOT shipping it out and then shipping it back, rather than refining it here would make us poorer.
You have caught what TGD has, fd.




You silly Billy:



Google AI:


Australia has oil reserves, but they are limited, holding only about 0.3% of the world's total reserves. While there is domestic production (mostly offshore in the Northern Carnarvon, Roebuck, and Gippsland basins), Australia imports around 90% of its refined fuel needs, relying on a strategic reserve to manage supply.

Key Details on Australian Oil:


Reserves: As of 2023, Australia had 7,551 PJ (1,312 million barrels) of proven and probable (2P) oil reserves.


Production: In 2023, Australia produced 747,020 TJ of crude oil.


Location: Most oil is found offshore in the Northern Carnarvon, Roebuck, and Gippsland basins, with some onshore production in the Cooper-Eromanga region.


Consumption & Import: Due to limited local refining capacity, Australia imports a vast majority of its petroleum products.


Fuel Security: As of March 2026, Australia holds roughly 32–36 days of fuel in stock, with the government purchasing additional reserves stored in the United States.


Although rich in other resources like coal and natural gas, Australia is not a major oil-producing nation.
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Carl D
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Re: Petrol could hit $3 per litre
Reply #36 - Mar 7th, 2026 at 10:35am
 
In today's The West Australian, former consumer regulator Allan Fels says that if the war goes on for longer than 6 weeks (as I'm sure it will) then the government will have to do something - like price controls and petrol rationing.

I'll be stocking up on popcorn for if/when that happens.

I'm already having flashbacks to the Great Toilet Paper War of 2020 when stupid, selfish people bought as much as they could (even though they didn't need to) while at the same time thinking "stuff everyone else".

Things like rationing worked quite well during World War 2 for example when people cared about others much more than they do now.

But, today (with the abovementioned stupid, selfish people making up the majority of the population) - no chance.
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freediver
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Re: Petrol could hit $3 per litre
Reply #37 - Mar 7th, 2026 at 11:09am
 
Quote:
In today's The West Australian, former consumer regulator Allan Fels says that if the war goes on for longer than 6 weeks (as I'm sure it will) then the government will have to do something - like price controls and petrol rationing.


Why would it have to do that?
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Carl D
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Re: Petrol could hit $3 per litre
Reply #38 - Mar 7th, 2026 at 11:17am
 
freediver wrote on Mar 7th, 2026 at 11:09am:
Quote:
In today's The West Australian, former consumer regulator Allan Fels says that if the war goes on for longer than 6 weeks (as I'm sure it will) then the government will have to do something - like price controls and petrol rationing.


Why would it have to do that?


Allan Fels says it would be to stop people panic buying and stocking up on petrol like they're doing right now and will only get worse the longer the war drags on.

But, no need to worry. I'm fairly certain our spineless politicians (especially Albanese) wouldn't have the intestinal fortitude to try anything like price controls and rationing of petrol.
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freediver
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Re: Petrol could hit $3 per litre
Reply #39 - Mar 7th, 2026 at 11:25am
 
Carl D wrote on Mar 7th, 2026 at 11:17am:
freediver wrote on Mar 7th, 2026 at 11:09am:
Quote:
In today's The West Australian, former consumer regulator Allan Fels says that if the war goes on for longer than 6 weeks (as I'm sure it will) then the government will have to do something - like price controls and petrol rationing.


Why would it have to do that?


Allan Fels says it would be to stop people panic buying and stocking up on petrol like they're doing right now and will only get worse the longer the war drags on.

But, no need to worry. I'm fairly certain our spineless politicians (especially Albanese) wouldn't have the intestinal fortitude to try anything like price controls and rationing of petrol.


They would lack the stupidity.
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Frank
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Re: Petrol could hit $3 per litre
Reply #40 - Mar 7th, 2026 at 11:54am
 
freediver wrote on Mar 7th, 2026 at 9:42am:
Quote:
So being energy self-sufficient in the 21st century is now hippy dippy 60s basket weaving!


It is the same thought process, applied to a nation rather than a person, usually associated with stoned hippies who have come to realise they don't like backbreaking work just to feed themselves, but think it will all work out if everyone in the country does it.

Dribbling.

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Re: Petrol could hit $3 per litre
Reply #41 - Mar 7th, 2026 at 2:52pm
 
Energy security is economic security

And fossil fuels are what has created most of the wealth we take for granted.

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freediver
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Re: Petrol could hit $3 per litre
Reply #42 - Mar 7th, 2026 at 4:08pm
 
You could say the same about food. If you go back far enough, over 90% of the economy was geared towards producing food. But now it is about 1%. Energy is following the same trend. It's now somewhere between 1% and 4% of the economy.

People have created the wealth.

And Australia is a net oil exporter. If there ever is an oil crunch, we will benefit. It is not the refineries that will be in short supply.

This is really nothing more than people searching for something to pointlessly fret about. All the economies we fear overpowering us are the ones exporting cars and ipads.
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Frank
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Re: Petrol could hit $3 per litre
Reply #43 - Mar 7th, 2026 at 4:34pm
 
freediver wrote on Mar 7th, 2026 at 4:08pm:
You could say the same about food. If you go back far enough, over 90% of the economy was geared towards producing food. But now it is about 1%. Energy is following the same trend. It's now somewhere between 1% and 4% of the economy.

People have created the wealth.

And Australia is a net oil exporter. If there ever is an oil crunch, we will benefit. It is not the refineries that will be in short supply.

This is really nothing more than people searching for something to pointlessly fret about. All the economies we fear overpowering us are the ones exporting cars and ipads.



It is  lot more complex and significant than that.

Energy is the basis of EVERY industry and every economic activity. As the price of energy goes up, so does the price of everything for that very reason.

You want secure, reliable and cheap energy. All three at once.  Australia could have all three but doesn't, because of government policies by the Uniparty.

The food analogy is false. Going from 90% to 1% is due to mechanisation and energy. The 90% of peasant   population has been replaced by machinery and technology - running on energy. But instead of peasant and draft animal muscle, it is fossil fuel energy.


How many industries and business have closed down due to unaffordable energy (and labour and regulatory) costs?

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Bobby.
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Re: Petrol could hit $3 per litre
Reply #44 - Mar 7th, 2026 at 6:06pm
 
freediver wrote on Mar 7th, 2026 at 11:09am:
Quote:
In today's The West Australian, former consumer regulator Allan Fels says that if the war goes on for longer than 6 weeks (as I'm sure it will) then the government will have to do something - like price controls and petrol rationing.


Why would it have to do that?



So that workers have enough petrol to get to work and back?   Undecided
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