Australia's Fuel Security: Time to Invest in Onshore Storage

Australia is heavily reliant on fossil fuels, and oil is a critical part of our energy mix. However, our reliance on imported oil presents a significant security challenge. We have limited onshore storage capacity, which means we are vulnerable to disruptions in supply.

The recent decision to purchase oil and store it in the United States highlights this vulnerability. While this was a necessary step to ensure short-term supply, it is not a sustainable solution. Storing oil overseas exposes us to additional risks, such as changes in US policy or disruptions in shipping lanes.

The best way to address our fuel security challenges is to invest in onshore storage capacity. This would give us a buffer against supply disruptions and make us less reliant on foreign oil.

There are a number of benefits to increasing onshore storage capacity. It would:

• Reduce our reliance on imported oil, making us more energy independent.

• Improve our energy security, making us less vulnerable to disruptions in supply.

• Create jobs in the construction and operation of storage facilities.

• Boost the economy by attracting investment.

Investing in onshore storage is a wise decision for Australia's future. It would make us more secure, more prosperous, and more in control of our energy destiny.