Frank wrote on Mar 7
th, 2026 at 9:30am:
freediver wrote on Mar 7
th, 2026 at 9:10am:
Because we want to be rich, not self sufficient. Go weave your own baskets if that's what you want.

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.