Bunnings has run out of jerry cans and Anthony Albanese has labelled fuel hoarders un-Australian, as the government announces it will underwrite the private sector to guarantee fuel shipments into Australia.
Speaking in Sydney on Saturday, the Prime Minister revealed new legislation would be introduced on Monday to allow the underwritingand deliver “shiploads” of fuel.
Images circulating widely online this week showing people filling up multiple Jerry cans of fuel, and Mr Albanese branded these suspected hoarders as un-Australian.
“That’s not the Australian way. People need to take what they need, and no more,” Mr Albanese said.
“I was with the head of Bunnings just last week, and had a discussion with him; they’ve run out of Jerry cans.
“That’s not sensible. People need to act responsibly at this time.”
Anthony Albanese MP and Energy Minister Chris Bowen announced the underwriting proposal in Sydney on Saturday. Picture: NewsWire / Martin Ollman
The federal government will introduce amendments to the Export Finance and Insurance Corporation Act, to formalise the commonwealth’s ability to underwrite additional cargoes and strategic reserves.
“The deal making expertise of Export Finance Australia will allow them to enter contracts of insurance or indemnity, give guarantees, make loans, or enter arrangements needed to help secure fuel supply from international markets,” information from the Prime Minister’s office says.
“The Fuel Security powers help to address (price rises and shortages) by giving suppliers confidence to secure additional and discretionary cargoes – which will be used to service uncontracted demand, including regional and independent fuel suppliers,” the additional information says.
Six of 81 fuel shipment arrivals for April were cancelled but those shipments had already been “more than” replaced, Mr Albanese said.
Prime Minister Anthony Albanese has revealed Bunnings is sold out of jerry cans
Anthony Albanese says motorists pulling into a service station to find the bowsers are empty cause “understandable stress”. Picture: NewsWire / Martin Ollman.
“This is a war that is across the other side of the world, but it’s having a real impact here, as it is, in every nation,” he said.
“Here, people in local communities, farmers, small businesses, miners, are all being impacted. And if you go to your local petrol station and there’s no fuel, that causes understandable distress.
“I want to keep our people, our economy, and our nation moving.”
The underwriting scheme would also help lock in fertiliser deliveries; shortages of which are compounding fuel shortages in the regions and threatening food supply.
“Put simply, we will use Export Finance Australia to underwrite the purchase of shiploads of fuel that will add to supply here in Australia,” Mr Albanese said.
“This support from the government will not be business as usual. It has to be additional supplies that are available on the international market.
“And it literally will be underwriting the purchase of shiploads of fuel to get here to Australia.”
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