Scott Wyatt
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Podcast Appearances
At this time, we'd love, obviously, probably it would be a great thing to have more and to be more independent, but we don't.
And I think that'll be
Obviously, one of the important conversations we come out of this is I don't think anyone wants to live through this again and have the level of insecurity that we feel at the moment.
So there'll be, I imagine, close examination of what are the options to improve the level of energy security we have in Australia as we go forward from here.
Well, it's always a balance, Alan.
I think many countries have obviously more refining capacity than we do, but they also have more
strategic storage than we do here in Australia as well.
So I think it's a combination of both refining capacity and storage to give you a longer period of time to sustain if supply is interrupted.
And I think ultimately the solution is a combination of the two things.
We are where we are in terms of what we have
as from a refining capacity in Australia doesn't mean we can't build more from here.
And obviously if you build new, you'll be building more modern refineries.
We can also add capacity
to the refineries we have, but we can also build storage.
And storage is probably, given where we are, is probably the fastest and quickest way to build more robustness into our position here in Australia.
Well, I think the storage we have in Australia is sufficient to meet the normal commercial requirements of the country.
And you've got to remember, for 99% of the time, it serves the country well.
It's a good balance between meeting the needs of consumers and doing it in the lowest cost way.
And obviously, both those things are important.
But it doesn't sustain you in a crisis like we're facing at the moment.