Press conference, Sydney, New South Wales

CHRIS BOWEN: Alright, well thanks for coming out this morning. Today is my weekly fuel supply update for the public. And firstly, given that we are now into May, I can tell you that over the course of April we received 92 shiploads of fuel - 92.

That’s up substantially, compared to 77 in March and 81 in January. I think Australians can take confidence in the fact that fuel has continued to arrive, and in fact we have more fuel in Australia today than we did when this international crisis began. I can also report today there are 56 ships on the way to Australia with fuel.

Our fuel stocks as they stand are that we have 43 days worth of petrol, 33 days worth of diesel and 28 days worth of jet fuel. In terms of petrol, that’s one less day than last week, steady for diesel, and two less days worth of jet fuel. But all those figures are either greater or broader consistent with what we had when the beginning- when this war began.

In fact, we have seven days worth more of petrol in Australia today than we did on February 28. I can also tell you that we have 4 billion litres of fuel locked in and contracted to be delivered to Australia over the next four weeks. That consists of 2 billion litres of diesel, 577 million litres of petrol, 516 million litres of jet fuel, and 813 million litres of crude oil.

So, all these are part of the weekly update that I give the public to give greater clarity and transparency and confidence about how much fuel we have in Australia and how much fuel is coming in. And of course, during the week, we announced more Export Finance Australia supported cargo deliveries. We now have 450 million litres of diesel and 100 million litres of jet fuel – over and above the normal supply - locked in, supported by the Albanese Government, procured, to give that extra buffer.

Because we still do live in a time of international uncertainty, with supply chain threats right across the globe. And we want to ensure that Australians have the best possible chance to access the fuel that’s available on the international market. And of course, we’ll have more announcements to make about EFA cargos, in addition to the announcements the Prime Minister made yesterday.

Happy to take questions, might go to the journalist here first, and then onto the phone. JOURNALIST: About those 56 shiploads, when can we expect them into Australia, and whereabouts are they actually coming from? CHRIS BOWEN: Well, the 56 ships are on their way to Australia as we speak.

They will land across the normal range of ports, from North Queensland, going in through Sydney, Kwinana in Western Australia - so they’ll just be delivered to the normal ports. Some are imminent, some arrivals are expected in coming days, maybe as soon as tonight, but others will come over the next two to three weeks. Questions on the phone?

JOURNALIST: Hi Minister, Stephanie Borys from the ABC. The ABC has spoken to an owner-operator truck driver this morning, she says an emergency relief package would have been better than interest-free loans. Is the Government looking at any further help for businesses struggling with the cost of fuel?

CHRIS BOWEN: Well of course, we’ve always recognised that this international crisis is going to put huge pressure on fuel prices and pressure on businesses and households. That’s why we acted, to take the road user charge, the heavy vehicle road user charge down to zero, and to cut the excise in half, and to work with the states to cut the GST. That was the most important thing we could do.

We’ve also made clear that we will always consider what further actions are necessary to provide businesses with support through this very difficult period where fuel prices have gone up right around the world. And of course, we’ll continue to do that. JOURNALIST: And do you know if any interest-free loans have been approved yet through that National Reconstruction Fund?

CHRIS BOWEN: Certainly, the grants are open for people to apply for. That is and we would encourage businesses to engage in that process and apply for those grants. I’ll leave other ministers to comment on how many grants have been issued.

JOURNALIST: Hey Minister, Tim Lester from Seven News. First few comments today come on the day where Donald Trump appears to acknowledge that there’s no agreement in sight with the Iranians. Can I get your comment on how you feel about that, and how worried we should be about the medium and longer term given the fact now, for quite a while, there’s been no real sign of movement on negotiating an end to the basic problem here?

CHRIS BOWEN: So Tim, we’ve been calling for this situation in the Straits of Hormuz to be resolved for weeks. We’ve called for action to be taken to lift the restraints on the Straits of Hormuz and see free trade flow. Obviously, we’ve also called for an end to the conflict in the Middle East so that the Middle East can return to more normal arrangements, and the world can return to a more normal economy.

That would be a good thing. The Prime Minister, the Foreign Minister, all of us have engaged in those calls. Obviously, we recognise the complexity of the situation.

But it would be good if this situation is resolved for the world, because as soon as it’s resolved the world economy can get back to more normal levels. It won’t happen overnight. Even if the Straits of Hormuz opened tonight, there would still be impacts on supply chains - not just for fuel, but for other things as well.

That’s why we’re taking all the steps we’re taking, as well as calling for the situation to be resolved, to actually give Australia the best access to the cargoes that are under pressure - whether it be fuel, or fertilizer, or other things. We’ve passed that legislation through the Parliament, we’re implementing that through the announcements we’re making, and giving Australians the best possible chance.

Australia is very well placed - given all the steps the Government and industry working together have taken over the last six weeks or so - we are now in a position where we can say we are very well placed to weather this storm. But it would be better if the storm ended. Any other questions?

JOURNALIST: Sorry, Minister, from me, one more from me if I can. CHRIS BOWEN: Yeah. Of course.

JOURNALIST: Critics say that this crisis particularly, but also the COVID pandemic and climate more generally are showing up Australia’s weakness as a democracy with 3-year political terms and a short-term view of what’s going on. They’re showing up the weaknesses of governments about making good, long-term decisions to properly protect us against risk. What’s your thought on that claim?

CHRIS BOWEN: What I’d say to that, Tim, I’d probably answer the question in two parts. Firstly, governments- our government has certainly taken long term decisions - whether it be about energy and bringing our energy and fuel supplies home to Australia, keeping our minimum obligation here in Australia and getting rid of Angus Taylor’s rules that it be held in Texas.

We’ve taken steps to ensure the long-term energy resilience. If you look at just the latest figures showing that our energy reliability has improved, renewable energy is way up, and that has improved the reliability of our grid and seen wholesale prices fall dramatically. That’s a good thing, and we’ll continue with that transition.

And across the board, we’ve taken steps to, you know, really help Australians - whether it be the cheaper medicines, opening urgent care clinics. All these are important reforms to help Australians through difficult times. Now, I would prefer 4-year terms over 3-year terms, that should be no secret.

I think that many Australians would prefer that. But I don’t think you can say that it has stopped Australian governments, particularly the Albanese Government, making those sorts of long-term decisions which are necessary to the national interest. JOURNALIST: Minister, Connor McGoverne from Nine News.

Your weekly update, there were some new figures in there. I think you said two billion worth- over two billion litres of diesel is on its way for the month. CHRIS BOWEN: That’s right.

JOURNALIST: How does that compare to previous months? Because I don’t think we’ve had quite those numbers before. CHRIS BOWEN: No, I have released those figures now for several weeks each week.

Our diesel is down a little bit in terms of the forward orders, jet fuel is up substantially - so that’s a good thing. They’re pretty broadly consistent, Connor. What we’ve seen is, today, 4 billion litres.

Last week it was 4.6 billion litres, but the week before that- the two weeks before that it 4.1 billion litres, and the week before that was 3.7. So, it’s pretty much in the zone of what we’ve been announcing for the last few weeks. A little bit down on last week, but the fact that there’s 56 ships on their way to Australia which is, again, pretty consistent with previous weeks’ reports.

And as I said, the fact that we can tell you now that we had 92 ships arrive in Australia through April, compared to 77 and 81 in the two months prior to that, I think are a good set of figures, which show Australians that while the – as I’ve always said – the threats remain to the international supply chain, Australia has been pretty well placed. And the world has thrown a lot at us.

I mean, not only a war in Iran, but a fire at our- one of our two refineries in Geelong. The world’s thrown a lot at the supply chain, but Government working with industry has seen us come through that, resilient and strong and well prepared. JOURNALIST: Just a couple of other quick ones from me.

Croppers say that there’s a mice plague in Western Australia, that that mice plague is threatening the food exports that we’re sending to Indonesia and then getting fertiliser back from them. Is that what you’re hearing from industry? CHRIS BOWEN: Well obviously, we’re concerned about the mice situation, including in Western Australia.

I wouldn’t draw a direct link to arrangements we have in place for fertiliser, because we have put those arrangements in place - Prime Minister Albanese directly with President Prabowo - which is a clear and strong dividend of a strong bilateral relationship and the foreign policy of this Government. Obviously, the impact of the mice plague on any food supply - whether it be for Australians or overseas - is something we’ll continue to work hard with industry on as best as governments can.

Because a mice plague is a very difficult situation for farmers and for industry and for governments all. But I think, as I said, I wouldn’t draw a direct link, necessarily, but obviously it’s something we would rather see avoided. JOURNALIST: Terrific, thank you.

Last one from me, very quickly. Ahead of the Budget, we know that it’s not going to be finalised basically until the last minute, can we expect any major surprises? I think we’ve seen on the front page of The Australian today that trusts might be in the- might change how they’re taxed.

Can we expect any major surprises, or will people be better off, or will they be worse after this Budget? CHRIS BOWEN: Well Connor, what I’d say to you is that the Budget is now Tuesday-week. Not long to go.

I understand Budget speculation is fierce, and it’s a hobby for people, and I get that. But I’ll give you the same answer that I’ve given to every Budget question I’ve received. The Budget is delivered on the second Tuesday of May by the Treasurer, not the energy minister, and I don’t come in on Budget speculation or Cabinet conversations.

I can tell you that the entire Cabinet, under the Prime Minister, has been working very hard on this Budget to ensure it strengthens Australia, strengthens Australian households, puts Australian business in a good position, builds on the reforms of previous governments. We’ve said that we think it is time to tackle some serious issues in the Australian economy, in the Australian tax system.

The Treasurer has been leading that work very well, and he’ll have a great budget to deliver on Tuesday-week. JOURNALIST: That’s it from all of us, thank you Minister. CHRIS BOWEN: Alright, I think that’s a wrap.

Thanks for coming guys, cheers. We acknowledge the Traditional Owners of country throughout Australia and recognise their continuing connection to land, waters and culture. We pay our respects to their Elders past, present and emerging.