Dodgy petroleum deal covers up gross and treasonous negligence by the Morrison govt

[Dry Rot]

That precious surplus is getting costlier by the day.

A bid by the Morrison government to avoid spending billions of dollars on a vast stockpile of emergency fuel has won crucial support from the world's peak energy agency ahead of a possible deal with United States President Donald Trump.

Fuel deal between Trump and Australia secures crucial backing

Australia is seeking ways to address dangerously low levels of onshore fuel storage that don't meet international obligations and leave it vulnerable to crisis.

www.smh.com.au

Jim Molan is on the money. This is gross and treasonous negligence. The Governor General should dismiss this govt immediately.

 

[Frank Bunn]

How is it gross and treasonous negligence?

 

[Thegibbsgamble]

Once upon a time when you were a wet rot, we made our own fuel.

If your gonna store your oil anywhere, under the gaurd of the American military, is probably the best bet.

But but but are we paying market price or is it the stuff we stole from Syria?

 

[HairyO]

That precious surplus is getting costlier by the day.

A bid by the Morrison government to avoid spending billions of dollars on a vast stockpile of emergency fuel has won crucial support from the world's peak energy agency ahead of a possible deal with United States President Donald Trump.

Fuel deal between Trump and Australia secures crucial backing

Australia is seeking ways to address dangerously low levels of onshore fuel storage that don't meet international obligations and leave it vulnerable to crisis.

www.smh.com.au

Jim Molan is on the money. This is gross and treasonous negligence. The Governor General should dismiss this govt immediately.

So they are going to save billions of dollars and not flood the country with evil fossil fuels.

Come on lefties, this is manna from sky fairy land !

 

[Power Raid]

That precious surplus is getting costlier by the day.

A bid by the Morrison government to avoid spending billions of dollars on a vast stockpile of emergency fuel has won crucial support from the world's peak energy agency ahead of a possible deal with United States President Donald Trump.

Fuel deal between Trump and Australia secures crucial backing

Australia is seeking ways to address dangerously low levels of onshore fuel storage that don't meet international obligations and leave it vulnerable to crisis.

www.smh.com.au

Jim Molan is on the money. This is gross and treasonous negligence. The Governor General should dismiss this govt immediately.

Australia has not met its own target for fuel stockpiles for two decades

A number of Qld companies are lobbying the government to have oil in shale to be classed as strategic reserves.....which I strongly disagree with.

but what is certain is, this is nothing new.

 

[Kwality]

That precious surplus is getting costlier by the day.

A bid by the Morrison government to avoid spending billions of dollars on a vast stockpile of emergency fuel has won crucial support from the world's peak energy agency ahead of a possible deal with United States President Donald Trump.

Fuel deal between Trump and Australia secures crucial backing

Australia is seeking ways to address dangerously low levels of onshore fuel storage that don't meet international obligations and leave it vulnerable to crisis.

www.smh.com.au

Jim Molan is on the money. This is gross and treasonous negligence. The Governor General should dismiss this govt immediately.

Is this news to you ...

 

[Dry Rot]

The treason continues, and what arse licking deal have we agreed to in return?

Australia reaches breakthrough deal to buy US emergency oil supplies

The deal, which involves leasing US storage facilities, means the government will not need to spend billions of dollars building expensive new storage facilities in Australia.

Taylor and Morrison should be shot by a firing squad commanded by Jim Moran.

Penny pinching traitors.

Australia reaches breakthrough deal to buy US emergency oil supplies

Australia imports 90 per cent of its liquid fuels but only has enough in storage to last 54 days.

www.smh.com.au

 

[Power Raid]

The treason continues, and what arse licking deal have we agreed to in return?

Australia reaches breakthrough deal to buy US emergency oil supplies

The deal, which involves leasing US storage facilities, means the government will not need to spend billions of dollars building expensive new storage facilities in Australia.

Taylor and Morrison should be shot by a firing squad commanded by Jim Moran.

Penny pinching traitors.

Australia reaches breakthrough deal to buy US emergency oil supplies

Australia imports 90 per cent of its liquid fuels but only has enough in storage to last 54 days.

www.smh.com.au

how long do you feel we will be oil dependent?

From a personal perspective, I feel we will be for at least 20 more years and thus should build the facilities. However, if we have the electric car dominate within 10 years, perhaps it makes sense not to invest in the facility.

Further there seems to be a massive roll out of new petrol stations in our cities, what is the storage capacity of that, plus ordinary storage?

Lastly 1 life is lost for every 4 diesel convoys in war time (land based and a US statistic). So I'm not sure of the reliability of fuel off shore. Balancing this, our military is investigating the EV and the SMR negating the need for diesel.

 

[HairyO]

Saving money makes sense. Only problem is, in a crisis, the US would just refuse to let us have the oil.

 

[borderbarry]

I dont see the wisdom in storing our oil overseas. If that country had a need for extra oil what would be stopping them from simply taking ours? Our defence forces? Not likely. We should bite the bullet and build our own storage facilities.

 

[Power Raid]

I dont see the wisdom in storing our oil overseas. If that country had a need for extra oil what would be stopping them from simply taking ours? Our defence forces? Not likely. We should bite the bullet and build our own storage facilities.

Angus taylor just appointed Grant King to complete a feasibility study on SMRs. One site of many is Woomera.

With the military looking at te EV, the nuclear subs and civilians the electric car and mining the SMR. What purpose do we need oil in the medium term?

 

[Kwality]

I dont see the wisdom in storing our oil overseas. If that country had a need for extra oil what would be stopping them from simply taking ours? Our defence forces? Not likely. We should bite the bullet and build our own storage facilities.

I think we've got the storage already.

 

[Power Raid]

Time to stock up with negative oil prices but I suggest we won’t as the strategic objectives aren’t there

 

[Kwality]

Time to stock up with negative oil prices but I suggest we won’t as the strategic objectives aren’t there

Its probably what drove the decisions by Govts of both persuasions, just another example of the drivel of party politics.

 

[Bollox]

Time to stock up with negative oil prices but I suggest we won’t as the strategic objectives aren’t there

huh ?
It was just a contract rollover. The May contract expired and the dummies that left it too late to roll into June got hammered in the afternoon.
June futures hardly moved at that $20-22/barrel level.
Algorithm trading gets a bit haywire. Physical delivery contract, and speculators don't really want oil tankers in the driveway. They need to sell any longs and buy the June, left it too late coz they expected a short squeeze near the death of the contract...coz its been bearish. Ouch.
Think of it as a redistribution of wealth from morons to smarties.

 

[Mofra]

Time to stock up with negative oil prices but I suggest we won’t as the strategic objectives aren’t there

Aren't our fuel reserve measures based on refined usable petroleum? We're still a slave to overseas refinement.

 

[Number37]

OPEC/Russia have hammered US oil.
China has hammered every other part of the US economy with CoVid.
Trump is voluntarily giving up US control of international institutions.

New World Order?

 

[Lebbo73]

OPEC/Russia have hammered US oil.
China has hammered every other part of the US economy with CoVid.
Trump is voluntarily giving up US control of international institutions.

New World Order?

Now you’re into conspiracy theories as well

 

[Number37]

Now you’re into conspiracy theories as well

Are you denying that:
(a) OPEC/Russia have hammered oil prices and collaterally US oil producers?
(b) CoVid has hammered the broader US economy?
(c) Trump has voluntarily given up US control of international institutions?

 

[Kwality]

Now you’re into conspiracy theories as well

Looking for any opportunity otherwise these clowns are ignored totally.

Its not just Tiges fans (some only) chasing relevance .....

 

[Kwality]

Are you denying that:
(a) OPEC/Russia have hammered oil prices and collaterally US oil producers?
(b) CoVid has hammered the broader US economy?
(c) Trump has voluntarily given up US control of international institutions?

Treasonous negligence .... ScoMo ...

Dodgy petroleum deal covers up gross and treasonous negligence by the Morrison govt

That precious surplus is getting costlier by the day. A bid by the Morrison government to avoid spending billions of dollars on a vast stockpile of emergency fuel has won crucial support from the world's peak energy agency ahead of a possible deal with United States President Donald Trump...

www.bigfooty.com

 

[Lebbo73]

Are you denying that:
(a) OPEC/Russia have hammered oil prices and collaterally US oil producers?
(b) CoVid has hammered the broader US economy?
(c) Trump has voluntarily given up US control of international institutions?

How does this stuff even relate to the ScoMo thread?

 

[Number37]

How does this stuff even relate to the ScoMo thread?

LOL.

Check the thread title. Give yourself an upper cut.

 

[Frank Bunn]

huh ?
It was just a contract rollover. The May contract expired and the dummies that left it too late to roll into June got hammered in the afternoon.
June futures hardly moved at that $20-22/barrel level.
Algorithm trading gets a bit haywire. Physical delivery contract, and speculators don't really want oil tankers in the driveway. They need to sell any longs and buy the June, left it too late coz they expected a short squeeze near the death of the contract...coz its been bearish. Ouch.
Think of it as a redistribution of wealth from morons to smarties.

I learnt a new word today. Mega-contango.

Apparently Goldman Sachs are saying that oil prices will continue to fall. That's a pretty good buy signal for me. The oil companies are 'too big to fail'. It will be another area that governments throw billions of dollars at.

 

[Balls In]

I'm still trying to work out what the "gross and treasonous negligence" refers to?