John Madigan (Victoria, Independent) Share this | Hansard source

I am pleased to be able to speak to the final report on Australia's transport fuel security. On 3 September last year, Senators Muir, Lambie, Xenophon, Bullock, Canavan, Heffernan and I moved that this inquiry be established. From the outset, I thank them for their support to establish the inquiry. I thank Senator Sterle, who conducted this inquiry in an exemplary fashion. I also thank the secretariat and all those who provided submissions to this important inquiry—in particular those who appeared at the two public hearings.

This inquiry went to the heart of Australia's security—our fuel security. It has been said that it is the lifeblood of our society. What this inquiry found is that we have approximately two weeks to a month worth of fuel in storage. That is it—two weeks to a month. We do not even know that for sure, because we do not have a mandatory reporting regime in place. So what does that mean? Well, if something were to go terribly wrong—for example, in the South China Sea—and shipping out of Singapore were to be interrupted for a prolonged period, Australia would have between two weeks and a month worth of reserves. That is not to say that the fuel will be where it is needed, but we would have about a month's worth of LPG for our forklifts and around two weeks worth of diesel for everything else of significance. That is why this inquiry was so important. It did some groundbreaking research on the facts behind Australia's transport fuel supply chain. It exposed the realities that have been swept under the rug by current and previous governments.

This inquiry laid to rest the idea of, 'There's nothing to see here'. The report being tabled today outlines that any significant disruption to Australia's transport fuel supplies would have a significant impact on safety, national security, productivity and society as a whole. The committee recommended three significant points. The first was that the government undertake a comprehensive whole-of-government risk assessment of Australia's fuel availability and vulnerability. In doing so, we must look at potential disruptions resulting from military actions, terrorism, natural disasters, industrial accidents, financial issues and other structural dislocations. The second was mandatory reporting of fuel stocks to the Department of Industry and Science to allow the department to not feel the need to reverse-engineer their figures. The third was that the government develop and publish a comprehensive transport energy plan, directed at achieving a secure, affordable and sustainable transport energy supply chain.

The government must act immediately on these recommendations. It must not simply talk about action and then do nothing like it has on so many issues. The threat is immediate. Our national security is at stake. The Prime Minister says that he is committed to keeping Australians safe. If that is true, then he will move swiftly to ensure our nation's fuel security, because not to do so would put the entire country at risk. The opposition too must come to the table and make a bipartisan commitment to implement the committee's recommendations. From the outset of this inquiry, both major parties have worked very effectively together to produce this vital report. It is my sincere hope that this cooperation will continue and that all parties will put Australia's interests ahead of their own.

Once a crisis begins, we will have no way of rectifying the situation; we must begin preparing now. The recommendations of the committee are not a silver bullet by any means, but they are an important first step to ensuring our nation's fuel security and energy independence.