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

My question is addressed to the Minister for Resources and Energy. The minister would be aware that oil majors do not buy petrol at the spot market quoted world price. They own the oilwells or have long-term contractual prices. Is the minister aware that the price for oil three years ago was $42 a barrel while the bowser price was 101c and, since no oil companies were going broke, the cost of production, distribution and retailing was below 100c? Since then, as the cost of production, distribution and retailing has not changed, the oil companies should now, at 150c, be making a 50c a litre greater profit than then. Since government in Australia does not approve of price fixing, could the minister assure the House that he will keep an open mind and consider proposals being formulated for government—by the carbon and energy council—to provide ethanol to all Australian motorists at United States bowser prices of 80c a litre and Brazilian bowser prices of 74c a litre? I ask leave to table a photograph of a very handsome fellow in a big hat, filling up his Brazilian Holden motorcar at 74c a litre.

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