Albanese Defends Fuel Security Promise

0:00It's April 9th. You're listening to Sydney News today, AI-powered local news. I'm Corey with the story. Australian Prime Minister Anthony Abaniz is pushing back hard against claims that he's failed on his big fuel security promise from four years ago. Back before the 2022 election, he vowed to run a government that plans ahead with solid fuel supplies. Now, facing questions about Australia's spot in the global fuel crunch, he says they've built the largest reserves in 15 years and kept all, refineries running. Earlier this week, a Sky News reporter pressed him on whether the crisis shows he missed the mark. Abaniz stood firm, pointing out no refineries shut down under his watch. He highlighted securing the two key ones in Brisbane and Jolong, plus working on a strategic fleet to lock in supplies for the long haul. This all stems from his pre-election speech, ripping into the previous coalition government for letting two of four refineries close and stashing fuel reserves in the Gulf of Mexico.

1:00Voters were fired up about fuel back then, and now with Middle East tensions spiking prices and shortages, folks are feeling the pinch again. On Thursday, Abaniz and energy minister Chris Bowen dropped news of a fresh deal. Export finance Australia is backing domestic refiners to haul in extra fuel cargos, ramping up supply that's not just routine business. Meanwhile, experts warn the damage to oil assets from the conflict, plus Iran's grip on the straight of Hormuz means recovery could drag on for months. Or even a couple years, keeping the pressure on fuel lines worldwide.