The fire that broke out at Viva Energy's Corio refinery near Geelong on Wednesday night could not have come at a worse time for Australians or the Albanese government.

Subscribe now for unlimited access.

Login or signup to continue reading

With refinery workers warning the blaze could halt the production of unleaded for weeks - and a slowdown in the production of diesel and aviation fuel already in place - the calamity makes the Prime Minister's efforts to beg, borrow and buy fuel to keep Australia moving even more urgent.

Corio supplies more than 50 per cent of Victoria's and 10 per cent of Australia's fuel.

The Energy Minister Chris Bowen noted on Thursday morning, in a curiously worded statement: "This is not a positive development in Geelong. Let's not pretend somehow that this won't have some sort of impact."

So, how is it that a country as rich in resources as this one - which has a proven track record of extracting and refining its own oil in the past, is now so dependent on the kindness of strangers that foreign leaders can dictate how much tax we impose on our LNG exports?

While Labor is desperate to spin this as a fuel emergency entirely caused by the attack on Iran by America and Israel, that is merely blame-shifting; an attempt to disguise the real issue. The primary cause is the failure by the federal government to properly manage a clearly foreseeable risk which astute individuals - including the late Senator Jim Molan - were warning about over a decade ago.

While both Coalition and Labor governments must accept their fair share of the blame Mr Albanese is in the hot seat after almost four years in office.

This is especially so given that in opposition Mr Albanese criticised the Morrison government for holding fuel reserves offshore and said the 90-day minimum reserve mandated by the International Energy Agency must be implemented. Once elected he found that would be too costly.

While Labor, to its credit, did bring the reserve back to this country and its belated decision to halve the fuel excise has seen petrol prices drop, diesel continues to soar.

With dozens of trucking companies close to closure and airlines cutting back on regional services, the situation is arguably worse than the government claims.

Mr Bowen says we are only at stage two of a four-stage response, which peaks with strict retail rationing, bulk allocation directions and the halting of fuel for non-essential use.

Should it come to that, the political consequences will be dire for a government caught so flat-footed by this crisis it spent weeks telling consumers that they, and not the soaring prices or the threat to long-term supply, were the problem.

The PM has yet to explain why three weeks elapsed between the first bombs being dropped and a national cabinet meeting being called.

Was it that, ignoring COVID-19's harsh lessons about the dangers of fragile "just-in-time" supply chains, Labor hoped Iran, Israel and the US would quickly kiss and make up, and that life would go on? If so then the competence of this government and its advisers is questionable.

That perception will be reinforced if the May budget does not include strong measures to reinforce Australia's fuel security; not only during this crisis but also ahead of the next one, and the one after that.

This must include a concerted effort to make the nation more self-sufficient in the fossil fuels the economy depends on, especially the diesel that underpins the transport network.

If (or rather, when) fuel rationing does bite, voters will look past the war and blame the politicians who have let them down.

When that happens, Mr Albanese, Mr Bowen and Mr Chalmers will need to be able to show they have learnt from their mistakes.

Send us a Letter to the Editor

Letters to the editor should be kept to 250 or fewer words. To the Point letters should not exceed 50 words. Reference to The Canberra Times reports should include a date and page number. Provide a phone number and address (only your suburb will be published).

Responsibility for election comment is taken by John-Paul Moloney of 121 Marcus Clarke Street, Canberra. Published by Federal Capital Press of Australia Pty Ltd.

Epic fail as Trump rushes for the exit

Yes, we need big changes to tax, but here's why the budget isn't the place for it

Labor's green virtue-signalling is a policy of hypocrisy and stupidity

More fool me. Time to stop taking advice from people who know next to nothing.

A new values statement for migrants misses the point about Australia

Corio refinery blaze is more fuel on the fire of a national crisis

Voice of Real Australia

Get real, Australia! Let the ACM network's editors and journalists bring you news and views from all over.

Today's top stories curated by our news team. Also includes evening update.

Your essential national news digest: all the big issues on Wednesday and great reading every Saturday.

Grab a quick bite of today's latest news from around the region and the nation.

Sharp. Close to the ground. Digging deep. Your weekday morning newsletter on national affairs, politics and more.

Catch up on the news of the day and unwind with great reading for your evening.

Get news, reviews and expert insights every Thursday from CarGuide, ACM's exclusive motoring partner.

Get the latest property and development news here.

Every Saturday and Tuesday, explore destinations deals, tips & travel writing to transport you around the globe.

Get the editor's insights: what's happening & why it matters.

Stay in the know on news that matters to you with twice weekly newsletters from The Senior.

Going out or staying in? Find out what's on.

The latest news, results & expert analysis.

Don't miss updates on news about the Public Service.

Early Look At David Pope

Your exclusive preview of David Pope's latest cartoon.

Join our weekly poll for Canberra Times readers.

We've selected the best reading for your weekend.

Be the first to know when news breaks.

Your digital replica of Today's Paper. Ready to read from 5am!

Your favourite puzzles

Test your skills with interactive crosswords, sudoku & trivia. Fresh daily!

Get the very best journalism from The Canberra Times by signing up to our special reports.

© Canberra Times