Laura Tingle

speaker

94 appearances 1 recordings 1 series first heard Jun 2026 last heard 30 Jun

Laura Tingle’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.

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ABC News Daily · Laura Tingle on what saved the global economy · 30 Jun 2026 podcast

I mean, the US is now one of the... Before all of this started, it's become one of the world's biggest petroleum exporters because of the fracking sector in the US.

But its exports have jumped by nearly 25% this year.

And even Venezuela, which, you know, it already had its own problems and now it's got really devastating ones.

But it also has really...

pretty dirty oil, which nobody really wants, but its oil exports jumped by 40%.

Brazil's jumped by a third.

Singapore, which is one of the world's biggest oil refiners, is now importing over 10% of its crude from the US, which it previously never imported any from the US.

So all of that shows how the global economy has proved quite

resilient and quite flexible.

And on top of that, of course, Saudi Arabia started moving a lot more oil through this east-west pipeline that runs across to the Red Sea.

The UAE, which of course sort of almost straddles the bit that pokes up into the Strait of Hormuz, started moving oil through Fujairah, which is a port on the outside of the Strait of Hormuz, and it's now doubling its capacity with a pipeline that's being built in record time.

It's been fascinating to watch.

Now, of course, we should say that it's not just oil that was going through the Strait of Hormuz.

And there are all these other knock-on effects from other things like fertilisers and other sorts of goods.

But oil was this overwhelming threat to the economy around the world, just screaming to a halt.

And it just hasn't happened.

Yeah.

So one of the big criticisms of German geostrategic positioning in the last 20 years is that it basically bet heavily on getting a supply of oil and gas from Russia.

Then when the war in Ukraine started and there was the push for sanctions and everything else, essentially there was the big Nord Stream gas pipelines.

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