Wednesday 28 July 2026
Topics: Fuel excise, Fuel refinery, Coalition’s positive plan.
E&OE…………………………………………………………………………………………
Peter Stefanovic
Joining us live this morning, Shadow Foreign Affairs Minister Ted O'Brien. Good to see you, Ted. So is it a good idea to hold off for now?
Ted O'Brien
Pete there is no doubt that motorists are really struggling at the moment. But where the government wants to provide more relief, the most important thing is they've got to find savings in their budget to pay for it. There's no point in putting their pocket in the hand in the pocket of of taxpayers, flogging a whole bunch of cash, and then giving a little bit back in a fuel subsidy. W hat they need to do is find savings. This is the highest spending government in 40 years outside a pandemic. They can't just keep racking up debt, taxing Australians more. Are Australians hurting? Yes, they are. Where relief is provided, they need to make sure that they find savings in their budget to pay for it, Pete.
Peter Stefanovic
So, if there are other measures that are being considered rather than extension to the fuel excise cuts, what are some other measures that that you would properly lean into?
Ted O'Brien
Oh well, let's wait and see what they plan because at this stage we haven't seen anything from the Albanese government other than taxing Australians more then giving some back in subsidies. If they've suddenly seen the light and they understand they've got to drop their ideological approach to energy, they've got to bring on more supply on everything, and that includes increasing storage capacity when it comes to our liquid fuels. That's a good thing, but I'll believe it when I see it, Pete. At this stage, it's an ideological Labor government. The only answer they always have is to give away cash.
Peter Stefanovic
Well, I'll get to the new oil refinery in just a moment, but there's just a couple of notable references in the paper today, Ted, that point to a bit more of a concerning economic outlook. So, a Treasury submission on the weekend warned the oil market is becoming more vulnerable, and worst-case scenarios-worst-case scenarios - doesn't mean they'll happen - but worst-case scenarios have oil at 200 US a barrel. So, how concerned are you that things might be worse this second time around, even though we are told there's plenty of fuel here on shore?
Ted O'Brien
Very concerned, Pete, because nobody knows the end of the conflict in Iran. And even if it ended today, it's going to have a very long tail. And this impacts every Australian around the country. Again, it is why the Coalition has been calling on the government to get the basics right. They need to deal more fundamentally with energy. Energy security is national security. You can't just passively wait and watch a war on the other side of the world, and the only lever you have to pull is going to be giving cash to consumers or feasibility studies kicked down the road. We do need to have more serious action.
Peter Stefanovic
Well okay. Well, let's get to this oil refinery today. So there's this feasibility study that will that will begin things. I mean, it all sounds like it's going to take a lot of time to get this done, which doesn't really help the here and now. But but but in the long term, is this something you support?
Ted O'Brien
Pete, it is. They should have done it early, and they should be doing more of it, including some of the proposals being put forward elsewhere in the country, including Queensland. It took a while for the Federal government to come to this position that maybe it does need to explore other options. At the same time, Pete, I find it, I find it, it would be funny if it weren't so sad. On one hand, you've got Chris Bowen, the energy minister, out there on the global stage saying no more fossil fuels, and then you've got the prime minister in Australia saying we need more fossil fuels. I mean, the contradiction in Labor's energy policy explains why Australians are now paying higher prices for energy than they ever have, and why energy markets are now pulling back investment from Australia. It's that confused messaging which is ruining our long-term prospects as a country, Pete.
Peter Stefanovic
But didn't.. a lot of these refineries, though they closed under your watch, though. So might we not be in this position if they had stayed opened?
Ted O'Brien
Well, to be honest, they were actually largely announced to close under Labor. Where they were all going to close, there's only a reason two remain open today. The person who kept them open is now the alternate Prime Minister, and that's Angus Taylor. When he was Energy Minister, he ensured we did not lose that sovereign capability. It's also why it's very clear in our plan, Pete, that Angus put out last week. Our plan makes it really clear we need energy security, and as part of that energy security, we need to be supporting more refineries. That's been part of the Coalition's plan for a long time. If the Albanese government is now getting on board, well, that's a good thing.
Peter Stefanovic
Okay. Ted O'Brien. We'll have to leave it there. Thank you so much, Ted.
Ted O'Brien
Thanks very much, Pete. All the best.
