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Our cowardly PM, Anthony Albanese, has committed to “taking “every action” to shield consumers from oil-drive inflation shocks stemming from the Middle East, confirming he will meet with his Singaporean counterpart this week to shore up trade in petrol, diesel and LNG as part of an annual leaders’ meeting.”
Then why is he going to Singapore?
Singapore has no oil reserves of its own, but it does have bunkering storage of up to 90m/b.
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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.