Tammy Tyrrell (Tasmania, Independent) Share this | Hansard source

Straight up, I'll be supporting the Export Finance and Insurance Corporation Amendment (Strategic Reserve) Bill 2026, which will create strategic reserves for fuel and critical minerals and give the government the ability to better respond to future disruptions to supply chains.

Australians need to know the government can and will step in to protect us from supply problems. We shouldn't be punished for a stupid decision halfway across the world. Whilst the intent of this legislation is good, we need to be careful about how much executive power we are giving to ministers. We've seen when executive powers are exploited and abused during serious crises. During COVID, we saw former prime minister Scott Morrison abuse his role and swear himself into multiple ministries. That was wrong. We can't let legislation be abused like that again. No minister, including the Prime Minister, should have so much power, even during a crisis. We need to ensure we have the right checks and balances to protect us from these powers being abused in the future.

What I do like about this legislation is that it recognises that there are things other than oil and fuel that are strategically necessary and critical to Australia's safety and success. Just about anything can be dubbed a strategic material and eligible for support if it's vulnerable to supply chain disruptions. That's smart flexibility for the future.

The Minister for Resources should quickly use this power to recognise helium as a strategic mineral. Helium is totally and entirely vulnerable to supply chain disruptions. Last week I met with the Minister for Resources to advocate for helium to be added to the critical minerals list. Australia doesn't create any of its supply. We import all of our helium, which also goes through the Middle East to get here. Helium is a vital ingredient to make our MRI machines work. Without it, these machines simply stop, delaying diagnoses for cancer, strokes and heart disease. Right now, our hospitals are vulnerable to global supply disruptions entirely beyond our control. A domestic helium supply is fundamental to a resilient health system.

We also need natural helium for renewables and the technologies needed for the green energy transition. Natural helium is essential to the growth of Australia's tech sector. It's needed for data centres and quantum computers for its high-performance cooling and ultra-low temperatures. Projects like the Firmus AI data centre in Launceston show the highly skilled jobs and economic growth that are possible when we invest in advanced technology. We need those regional jobs. But those opportunities disappear without access to critical inputs.

Finally, helium is integral to the AUKUS agreement. We're committing billions of dollars to submarines and systems that rely on helium. If we're serious about a future made in Australia, natural helium must be part of the plan. We must reinstate helium onto the critical minerals list to unlock investment, fast-track projects and de-risk our domestic natural helium projects.

Since the conflict began, we've seen helium prices double. The crazy thing is that we know that Australia doesn't

need to pay this high price and bring helium in from other countries. We know we have enough helium in the ground to extract and provide for our own domestic use, as well as provide to the global market and make money. We know that we have it back home in Tassie, with enough for Australians and for the world.

I also want to make it clear that helium isn't like oil. It doesn't have cheaper alternatives, in the same way that oil and gas can be replaced by renewables. We also know we can use green hydrogen, which is extracted through hydrogen, not through mining for gas like in the past. That, right there, is a climate-friendly solution. We need helium for what it is—a critical mineral for our MRI machines, for our defence systems and for our tech to function.

So I welcome this legislation. It will give Australians peace of mind to know that the government will be able to step in and help the fuel cargo ships to keep coming and to shore up our supply. I also welcome that the legislation will allow for the resources minister to recognise helium as a critical mineral and help secure our sovereign domestic helium supply.