Australia has huge reserves of coal and gas – but very little oil. Before the 20th century, this didn’t matter – trains ran on local coal. But as cars and trucks have come to dominate, Australia has become more and more reliant on imported oil.
Imports now account for around 80% of total refined fuel consumption, the highest level on record.
If the flow of oil stopped due to war or economic instability, Australia would have about 54 days worth in storage before we ran out. That would be a huge problem.
But as more drivers switch from petrol and diesel to electric cars, this…
