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The Forum > Article Comments > Tensions in the Strait of Hormuz force us to reconsider the material benefits of fossil fuels > Comments

Tensions in the Strait of Hormuz force us to reconsider the material benefits of fossil fuels : Comments

By Ronald Stein and Yoshihiro Muronaka, published 16/4/2026

Energy 'reality' tells us that we need refineries to convert crude oil into usable transportation fuels and products.

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I think Albanese wants to point the finger at Angus Taylor much more than he wants to fix the problem.

For me the most important issue is to "reduce short term auto fuel price shocks by creating a six month buffer" that we can control directly, rather than more complex control of our allies and partners. Of course we should do both, but direct control should be the priority.

If PM Albanese organised work details in each capital of 1000 men to build petrol storage tanks, bought sheet steel, screws, concrete, steel cables, bitumen paint or similar to leak proof the tanks, and order building petrol tanks for six months supply in locations within 100km (possibly near a military base or ports)- then used rationing to fill the tanks- we would be in a much better position.

Then the PM wouldn't need to attack the Liberals because everybody would know that he was capable of solving problems. Instead he's proven that mostly he can blame someone else.

As far as Angas Taylor closing refineries it seems consistent with current business practices of "just in time supply" and David Ricardo's principle of "comparative advantage". When business and government is seeking every extra percentage point of productivity or return it is bound to create fragility to supply shocks. This is perhaps more an issue of group think than any one person.

Similar problems exist in cost of living price shocks.

First we give ourselves a buffer, then we spend more time doing root cause analysis.
Posted by Canem Malum, Friday, 17 April 2026 6:44:06 AM
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