Michael Ronaldson (Victoria, Liberal Party, Minister for Veterans’ Affairs) Share this | Hansard source

I do not accept the premise of Senator Madigan's question. This government has a very clear record on national fuel security. On top of that, all monitoring of the fuel market and all of our modelling of possible disruption scenarios shows that Australia is in a good fuel security position. I can assure Senator Madigan that the government continually assesses and tests our fuel security position, and these assessments have consistently shown that global markets would continue to supply Australia's requirements during supply disruptions. These assessments include regular energy security assessments to provide a high-level overview of Australia's energy security position and, in particular, identify issues which need further monitoring and assessment and an examination of historical oil market responses to global oil market prices to determine how Australian and international oil markets have responded to different oil shocks in the past and oil supply shock scenarios to determine the impact on physical oil supply to Australia.