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In a deeply disturbing development, Australia’s foreign minister Penny Wong has turned to China for fuel.
Chinese state-owned oil companies have begun engaging directly with Australian businesses on jet fuel sales in a breakthrough emerging from intensive diplomatic negotiations between Foreign Minister Penny Wong and her counterparts in Beijing.
Speaking to reporters after meeting Foreign Minister Wang Yi on Wednesday evening, Senator Wong described the development as an early but positive sign of co-operation, crediting the Chinese government with responding to Australia’s urgent fuel security needs.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.