Australia’s huge fuel reserve plan

In the months leading up to the 2019 election, then Opposition Leader Bill Shorten pledged to dramatically expand the nation’s fuel reserves to at least meet the International Energy Agency (IEA) requirement to hold 90 days’ worth of supply.

As part of his push, he cited data from the Department of Environment and Energy, which estimated that, at the time, Australia had 19 days’ worth of petrol, 23 days’ worth of jet fuel, and 22 days’ worth of diesel.

As the chart below from the latest Department of Climate Change, Energy, the Environment and Water illustrates, we are not dramatically removed from the levels Shorten raised with such alarm a little over 7 years ago.