No subject

rgy-to-overseas-investors-15383
Australia's precarious energy security
The issue is particularly important given Kevin Rudd has put energy =
market reform at the top of his policy agenda.

The Australian economy depends on coal for export earnings and =
electricity generation. Further, more than 75% of our economic =
activities (particularly transport of people and products) are powered =
by imported crude oil and petroleum fuels.

These have long global supply chains subject to geopolitical =
instability, and are affected by decreasing Australian domestic refining =
capacity.

Yet, despite such fuel imports creating a trade deficit of A$18 billion, =
Australia's current energy policy is against self sufficiency. Indeed, =
Australia is one of the few developed nations that lacks a standard =
stockpile of fuel reserves.

This means that if fuel supplies were cut, Australian motorists would be =
without petrol in three days and most food and medicine deliveries in a =
week.