Bob Katter (Kennedy, Independent) Share this | Hansard source

My question without notice is to the Treasurer. Assuming the government is intending to address the skyrocketing price of petrol, is the Treasurer aware of the State of the Union address by President Bush? I quote:

America is addicted to oil, which is often imported from unstable parts of the world … We must also change how we power our automobiles.

Referring to ethanol, electricity and hydrogen, he said, ‘Our goal is to replace more than 75 per cent of our oil imports from the Middle East.’ In light of the government’s own published draft, showing Australia is self-sufficient to date in oil but will have to import 60 per cent of its requirements in 2012, could the Treasurer designate some Treasury officials to look at following America’s mandated five per cent ethanol and devise an action plan to deliver Brazilian prices, currently 68c a litre, in contrast to Australia’s, now $1.33c a litre—up from only 89c two years ago?

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