Press conference, Smithfield, Sydney

MINISTER FOR CLIMATE CHANGE AND ENERGY, CHRIS BOWEN: Well, thanks for coming. Australia’s fuel security remains very solid in the face of the most difficult international circumstances. We have 41 days’ worth of petrol, which is the same as last week.

We have 31 days’ worth of diesel, which is one day less than last week. And we have 32 days’ worth of jet fuel, which is two days more than last week. About 40 ships are on the way to Australia with fuel, and 3.6 billion litres of fuel is locked in to be delivered, contracted to be delivered over the next four weeks.

That’s 300 million litres more than my update last week. I’ve been giving these updates every Saturday for the last six months. We continue to have more fuel in Australia today than when the fuel crisis and the war in Iran began.

That’s a good thing. It gives Australians confidence. They can buy as much fuel as they need, as we have always said, no more, no less, during these very difficult international times.

But, of course, the situation in Saudi Arabia is concerning. We’re seeing a pipeline which has been used to move around 4 per cent of the world’s oil supplies across Saudi Arabia and to an alternative route out of Saudi Arabia being damaged. So later this week I will be leaving for direct meetings and consultations with my Saudi Arabian counterpart, Prince Abdulaziz, to discuss the situation and get the latest information from his point of view about the flow of oil from Saudi Arabia to refineries around the world.

I’ll also be visiting India for consultations with my Indian counterparts, both Minister Yadav and other ministers in the Indian government. So we remain focused on the task at hand. Also, earlier in this six-month period, I announced that the Government was temporarily relaxing the minimum stock obligation on Australian fuel companies, about how much fuel they should keep, in order to ensure our fuel security and make it easier to move fuel around Australia.

I have taken a decision to extend that relaxation until the end of January 2027. While Australia’s fuel security system remains very strong, there does remain pressure internationally, and I think it’s appropriate to give those fuel companies just a little bit of extra flexibility to ensure they can get fuel to the service stations that need it across the country.

So that’s the update for today. Minister Murray Watt will be providing the update next Saturday while I’ll be in Saudi Arabia. We’ll continue to provide the Australian people with full information about the fuel situation so we can give them the confidence they need that the Australian Government will continue to work calmly, methodically, with our trading partners and with Australian refiners to ensure Australia’s fuel security.

Happy to take questions. We might go to the journalist on the phone first, and then to Nick, who’s here. JOURNALIST: Minister, thanks for waiting for us.

At the start of this crisis, and noting those numbers you’ve just given us and that more ships are on their way, we saw the Government heralding 50 million litres, five million litres from Singapore, whatever the breakdown might have been. We’ve seen fewer media releases come out on that front. Are they still continuing to come in?

Is the Government still securing those same batches of fuel? CHRIS BOWEN: Are you referring, Connor, to the Export Finance Australia transactions? JOURNALIST: Yeah, that’s right.

CHRIS BOWEN: No, we’ve been in a situation recently where our fuel storage has been full. You simply can’t get more fuel into our fuel tanks. So we haven’t been pursuing those EFA cargoes in recent weeks.

As soon as we feel that it’s appropriate, and we have the legislation in place, we can turn that back on in a day if necessary and secure extra fuel. That should also give Australians confidence that we can do what is necessary. JOURNALIST: Given what you’ve just said, does that mean we need to expand our capacity?

There were calls, I think particularly from the Nationals and perhaps One Nation, at the start of this crisis about expanding our ability to hold more fuel. Is it still your belief that the cost of building out that infrastructure just isn’t worth it? CHRIS BOWEN: No.

In the Budget, we announced big steps to improve our fuel security, including through storage. We said we would have an Australian fuel security reserve of a billion litres, and that we would increase the minimum stock obligation on the private sector. I issued a discussion paper several weeks ago calling for ideas about where that fuel should be stored.

Should it be stored in zones around Australia? The consultation period is now closed. I’ll be making further announcements before the end of the year about our plan for a government-owned fuel reserve.

The Opposition doesn’t support that. They don’t believe in the Government owning a fuel reserve in Australia. We do, because we think Australian taxpayers and Australian citizens should have their own reserves to call on in difficult times.

Not so much for this crisis, Connor, but for future crises, because the world is a complex place. We should assume that what’s happened in Iran over recent months will happen again somewhere else in coming years. So, as we announced in the May Budget, that work is well advanced.

But as you understand, you don’t build massive storage tanks in weeks or months. It takes time. JOURNALIST: The general response is that you’re not considering a cut to the fuel excise, but we’re seeing similar or very similar prices to what we were when it was last cut.

How much do Australian motorists need to suffer before you think, gee, we actually do need to cut this again? Even in your own electorate, I think it’s $2.85 for diesel just down the road, $3 in some places. At what point do you cut it again?

CHRIS BOWEN: This crisis in Saudi Arabia and Iran will flow through to prices. There’s no question about that. But we made clear that the temporary excise cut was just that, temporary.

We did extend it for a period of time. We’re focused on the other cost-of-living relief, the tax cut that every Australian got on 1 July, free TAFE, cheaper medicines, cheaper home batteries. We’re delivering cost-of-living relief right across the board and we’ll continue to focus on that.

Obviously, as the Prime Minister and Treasurer have said, we’ll always do what is necessary and monitor the situation carefully. But one of the reasons I’m going to Saudi Arabia is to assess just how long this situation will last and what the impact will be in coming weeks and months, so that we can provide the Australian people with that direct information. JOURNALIST: If no one else is asking questions, I’ll just ask this one.

Given what you’re looking at, would you expect these high prices to sustain through to the midterms at least? CHRIS BOWEN: I really think, Connor, that depends on what happens in the Middle East. It’s a very fluid situation.

It’s not just about the United States of America’s actions. It’s what the Houthis are doing, what Iran is doing. Obviously, it would be much better for the world if the United States and Iran reached a way forward.

We’ve said that consistently. The Prime Minister is in the United States as we speak. He’ll be saying that in the United States.

We say that here. That’s our position. But there are other players here.

The situation in Saudi Arabia has been brought about primarily by the Houthis. So it’s a complicated situation, and that’s one of the reasons why I’m going to Saudi Arabia, to see firsthand the situation on the ground, be better briefed, and so I can share that information in due course with the Australian people. JOURNALIST: On the United States, Donald Trump has banned press from the White House.

What’s your reaction to that? CHRIS BOWEN: Every journalist in Australia is welcome at my press conferences. I don’t ban journalists from press conferences.

I don’t like everything they always write, but it’s a democracy. You’re entitled to come to a press conference. One Nation bans journalists from press conferences.

They don’t like scrutiny. I welcome scrutiny. I have journalists, as every Labor minister does, from across the board, from News Limited, from Sky News, from the ABC to The Guardian, to the fine people at Channel Nine and Nine’s papers, at all the press conferences.

We run an open and fair system. That’s what we do. What happens in other countries is a matter for them, but in Australia every politician should be subject to scrutiny.

Australian politicians excluding journalists from press conferences shows that they just can’t handle scrutiny, and I think that’s not good for democracy. JOURNALIST: What do you make of John Howard’s comments that the major parties should just be ignoring One Nation? CHRIS BOWEN: I’ve seen John Howard’s comments.

Obviously, I respect him as a former prime minister. I haven’t seen all his comments in their full context. I think what we have to do is, one, focus on delivery for the Australian people.

Keep delivering cost-of-living relief. Keep explaining what we’re doing. Keep working on things like free TAFE, cheaper medicines, cheaper home batteries, cheaper childcare and tax cuts.

And also point out the fact that One Nation is an anti-worker party. One Nation will cut workers’ rights. One Nation doesn’t believe in paid parental leave.

One Nation doesn’t believe in superannuation. I think, as part of a democracy and a debate, we have to point that out. One Nation can defend their positions, or they can at least try to.

But if they believe in watering down superannuation, if they believe in cutting workers’ rights, which is what they believe, I think we should take them at their word and communicate that. All right, sounds like a wrap. Thanks, guys.

Thanks so much. 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.