Australia must prepare for the next global fuel shock
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As Chris Uhlmann wrote in The Australian over the weekend, the Albanese government seems to be on a propaganda tour promoting electrification of the nation’s vehicle fleet as a key solution to the nation’s energy security:
Transport Minister Catherine King declared this week that the world had moved on from drilling for oil in the search for fuel security, saying: “We talk about the need for electrification as part of the energy security, it’s also part of our economic security”.
Uhlmann countered by quoting figures from King’s own department showing that Australia’s liquid fuel dependence continues to grow:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.