Oil and "nightmare situation for Australia"

  1. 12,856 Posts.
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    earlier today:

    NBD comemnt get inot some oil stocks ASAP:
    a little know fact is week have only 3 weeks worth of fuel reserves on hand in down under land:...
    Attack on Saudi oil facility could cause nightmare situation for Australia

    For decades federal politicians have ignored appeals to preserve Australia’s
    strategic oil reserve. Now we have just three weeks of fuel in the tank.

    Australia’s worst nightmare is unfolding in the Middle East. Decades of neglect have left us with just three weeks of fuel in the tank.

    Now, with attacks on Saudi oil production, rationing is a genuine threat.Last month, the International Crisis Group issued a stark warning:

    “A single attack by rocket, drone or limpet mine could set off a military escalation between the US and Iran …
    that could prove impossible to contain.

    ”This weekend, just such an attack took place.Both the White House and Riyadh are refusing to rule out retaliation.It’s a scenario that leaves Australia out on a limb.


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