WEBVTT - Put down that fuel can: Albo’s here to help

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<v Speaker 1>From the Australian. Here's what's on the front. I'm Claire Harvey.

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<v Speaker 1>It's Tuesday, March thirty one, twenty twenty six. Step away

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<v Speaker 1>from the Jerry Can. The government says there's plenty of fuel,

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<v Speaker 1>but it's going to make it much cheaper starting Wednesday

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<v Speaker 1>by harving the fuel excise and cutting road user charges.

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<v Speaker 1>Jim Chalmers says it's timely, temporary and responsible. But it

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<v Speaker 1>puts a giant hole in the budget. So why aren't

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<v Speaker 1>they rationing fuel, Why did it take so long to

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<v Speaker 1>get here?

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<v Speaker 2>And will it work?

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<v Speaker 1>Jeff Chambers is here in just a moment.

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<v Speaker 3>We're making fuel cheaper today because we understand that Australians

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<v Speaker 3>are under serious pressure.

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<v Speaker 4>Will reduce the cost of a sixty five liter tank

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<v Speaker 4>five out nineteen dollars.

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<v Speaker 3>Our government will reduce the heavy vehicle due to charge

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<v Speaker 3>to zero for three months to help trucks continue their

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<v Speaker 3>vital work for our nation.

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<v Speaker 4>It is timely, it is temporary, and it is responsible.

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<v Speaker 3>We are asking people to buy as much fuel as

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<v Speaker 3>they need, as much fuel as they usually get, not more,

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<v Speaker 3>not less.

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<v Speaker 4>The cost of what we are announcing today is two

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<v Speaker 4>point five five billion dollars another fifty three million dollars.

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<v Speaker 1>Jeff Chambers is The Australian's political editor. Jeff On Monday,

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<v Speaker 1>the Prime Minister announced it pretty sweeping changes to the

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<v Speaker 1>way fuel is priced in Australia. First of all, are

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<v Speaker 1>you going to rush out and fill it?

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<v Speaker 4>You can't.

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<v Speaker 5>Well, I think there's a fair few people that will

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<v Speaker 5>probably wait until Wednesday when this very populous fuel exercise

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<v Speaker 5>cut kicks in. There'll probably be a few jerry cans

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<v Speaker 5>and some big traffic jams getting into the surveys. Look,

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<v Speaker 5>the fuel excise decision is another bit of evidence that

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<v Speaker 5>when this Albanezi government is under pressure, it goes to

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<v Speaker 5>the checkbook, the taxpayer funded checkbook, and it spends its

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<v Speaker 5>way out of a problem. We saw on Saturday the

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<v Speaker 5>Prime Minister and Chris Bowen, who's been under a lot

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<v Speaker 5>of pressure, say that they're going to underwrite more supply

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<v Speaker 5>coming into the country. So what does that mean. We

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<v Speaker 5>don't know how much it's going to cost, but with

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<v Speaker 5>the oil price the way it is, there is supply

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<v Speaker 5>out there, there are ships with oil on it and

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<v Speaker 5>the government will probably hide behind commercial and confidence, but

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<v Speaker 5>it will cost tens of millions of dollars to underwrite

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<v Speaker 5>petrol coming in, so they hope that that will sort

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<v Speaker 5>out the supply issue. We're already underwriting fuel refineries. There's

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<v Speaker 5>only a couple left in this country. They wouldn't be

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<v Speaker 5>open without taxpayer funded subsidies. And now we're having to

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<v Speaker 5>subsidize the price of petrol. And we've seen some that

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<v Speaker 5>will say that Angus Taylor on Friday has basically given.

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<v Speaker 2>A green light for the government to move this way.

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<v Speaker 5>Well, petrol stations are running dry. Fuel's becoming unaffordable for

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<v Speaker 5>Australians and this government hasn't got off its task and

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<v Speaker 5>done its job. The speed of the way that the

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<v Speaker 5>government announced it on a Monday after our Friday announcement

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<v Speaker 5>shows that this was already ready.

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<v Speaker 2>This was already prepared, it was already costed.

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<v Speaker 5>We're about six weeks out from the May twelve budget

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<v Speaker 5>and it was like, thank you very much, thanks for

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<v Speaker 5>giving us the green light to spend and this is

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<v Speaker 5>going to cost about two point five to five billion dollars.

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<v Speaker 5>And I think this is the issue with the major

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<v Speaker 5>parties is that they chase that sort of populous big

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<v Speaker 5>spendethon and no one's actually looking with more sort of

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<v Speaker 5>complex thought about future proofing Australia. Why was our fuel

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<v Speaker 5>stock so low? It's been low for years under the

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<v Speaker 5>coalition under Labor. Does anyone think that Chris Bowen put

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<v Speaker 5>fossil fuel petrol oil fuel reserves at the top of

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<v Speaker 5>his list when they won the election in twenty twenty two.

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<v Speaker 5>The answer to that is absolutely not.

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<v Speaker 1>Over the weekend, the Prime Minister was taking a very

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<v Speaker 1>sort of disappointed headmaster tone and it reminded me a

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<v Speaker 1>little bit of COVID Jeff, where he was saying he

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<v Speaker 1>was shocked to see photographs of people with multiple jerry

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<v Speaker 1>cans filling up at petrol stations. But isn't that a

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<v Speaker 1>problem that the government itself created by failing to do

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<v Speaker 1>maybe something like this or something else much much earlier

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<v Speaker 1>than now.

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<v Speaker 2>Yeah.

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<v Speaker 5>Look, we do see this delayed response in times of crises.

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<v Speaker 5>We've talked about it on a bunch of fronts, and

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<v Speaker 5>they ultimately get there, but they have to get pushed

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<v Speaker 5>by someone else saying why don't you do this, or

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<v Speaker 5>they get some polling or some focus group research coming in,

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<v Speaker 5>or their backbenches are saying you have to do more,

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<v Speaker 5>and do it quicker that's really interesting, this sort of

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<v Speaker 5>COVID link. And I've been getting some PTSD because I

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<v Speaker 5>covered so many National Cabinet meetings Scott Morrison era, and

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<v Speaker 5>it's funny to hear the government talking about they don't

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<v Speaker 5>want to intervene, they don't want to mandate things, when

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<v Speaker 5>I do recall them being in opposition and coming up

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<v Speaker 5>with a lot of pretty draconian ideas.

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<v Speaker 2>So it's a new world order.

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<v Speaker 5>Now say, look, the Prime Minister has learned from that

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<v Speaker 5>COVID experience that unless he absolutely has to, doesn't want

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<v Speaker 5>to get in talk of rationing. There was that language

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<v Speaker 5>from some labor ministers and Chris Bowen in regards to

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<v Speaker 5>these people who are filling up their Jerry cans being

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<v Speaker 5>un Australian, and that tone was pretty quickly, you know,

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<v Speaker 5>it very much toned it back. We saw Chris Bowen

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<v Speaker 5>and Jim Chalmers standing very grim faced and next to

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<v Speaker 5>the Prime Minister. These are normally the attack dogs. And

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<v Speaker 5>now everyone's looking towards the budget and to thinking there

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<v Speaker 5>could be a recession by the end of the year.

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<v Speaker 5>What's going to happen to the housing market, how high

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<v Speaker 5>are costs going to be?

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<v Speaker 2>And will this.

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<v Speaker 5>Government now try and spend its way out of trying

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<v Speaker 5>to lower inflation a lot they did with the power

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<v Speaker 5>bills and try to avoid recession.

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<v Speaker 2>And I think potentially.

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<v Speaker 5>This Donald Trump Iran war has given them potentially an

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<v Speaker 5>excuse to squib it and to go full spending popular

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<v Speaker 5>sort of approach, the idea of.

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<v Speaker 1>That being un Australian and filling up multiple jerry cans

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<v Speaker 1>at the petrol station. And it's a clear reference, I

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<v Speaker 1>think to the way people were hoarding so something like

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<v Speaker 1>toilet paper or tintune or bottle water during the COVID pandemic.

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<v Speaker 1>Is it on Australian or is it just kind of

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<v Speaker 1>sensible if you don't actually have any faith in the

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<v Speaker 1>government to make sure that the petrol station is not

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<v Speaker 1>going to run out next week.

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<v Speaker 2>Yeah, it's a really good point.

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<v Speaker 5>We've basically ostracize the oil and gas industry in this country.

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<v Speaker 5>We've got so much of it here and we're importing

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<v Speaker 5>almost everything, And what other option do Australian motorists and

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<v Speaker 5>those who rely on petrol have if that's their livelihood

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<v Speaker 5>and they're struggling to pay the bills. So yeah, really

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<v Speaker 5>it comes down to a supply issue. That's my issue

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<v Speaker 5>with the excise. I mean, obviously people would want cheaper petrol,

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<v Speaker 5>but at the end of the day, we just need

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<v Speaker 5>to have that steady flow of supply. And it's quite

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<v Speaker 5>ironic now to see crisp and through gritted teeth having

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<v Speaker 5>to subsidize the importing of a fossil fuel in oil

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<v Speaker 5>and bring that petrol in and make it cheaper.

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<v Speaker 2>And I think the only thing.

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<v Speaker 5>That Angus Taylor's announcement did to the Prime Minister and

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<v Speaker 5>Chris Bowen was really, I guess, make them quite angry

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<v Speaker 5>because he said to fund his fuel excise cut proposed cut,

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<v Speaker 5>he would cut a whole bunch of these EV and

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<v Speaker 5>green programs for labor.

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<v Speaker 2>That's a no go zone.

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<v Speaker 1>Well, we saw last week reports that used EV sales

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<v Speaker 1>were actually up for the first time ever, so maybe

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<v Speaker 1>Chris Bohm will get his way anyway.

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<v Speaker 2>Well, I mean that's it. I've heard the same thing.

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<v Speaker 5>And you don't get the warranty right for the battery

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<v Speaker 5>and there are issues with the battery.

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<v Speaker 2>So this is what we see.

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<v Speaker 5>You know, the more elite folk who could buy that

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<v Speaker 5>new EV and get all that great subsidy, the trickle down.

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<v Speaker 2>Element of that will mean that, yeah, you're going to.

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<v Speaker 5>Have other families buying secondhand vehicles with zero warranty. So

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<v Speaker 5>it's put a lot of pressure on Jim Charmer's six

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<v Speaker 5>weeks out from the budget.

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<v Speaker 1>Coming up, So why aren't we imposing limits at the

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<v Speaker 1>petrol pump. Let's just look at that idea of rationing though, Jeff,

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<v Speaker 1>maybe this is on Australian I don't know, but would

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<v Speaker 1>a hundred leader ration have been such a bad idea

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<v Speaker 1>three weeks ago if the government had said, look, there's

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<v Speaker 1>nothing wrong with your supply, but to make sure that

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<v Speaker 1>there's enough for everybody and that nobody feels the need

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<v Speaker 1>to panic by, we're going to limit you to one

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<v Speaker 1>hundred leaders per stop at the petrol station, maybe per

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<v Speaker 1>week or per few days. Would that have been such

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<v Speaker 1>a bad idea and could it potentially have avoided this

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<v Speaker 1>massive hit to the budget that they're now going to

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<v Speaker 1>have to deal with.

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<v Speaker 2>Yeah.

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<v Speaker 5>I think there's a lot of trauma and paranoia amongst

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<v Speaker 5>the political class thinking about COVID and mandates that came down,

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<v Speaker 5>and I think that drove a lot of that resistance.

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<v Speaker 5>I think Pauline Hanson had come out and talked about

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<v Speaker 5>that as well. So you see the major parties, she

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<v Speaker 5>does this to them where she'll come out with something

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<v Speaker 5>very early, then they try and find their way through

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<v Speaker 5>it and how they respond to it. I think it's

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<v Speaker 5>difficult in the fact that you've got suburban motorists, You've

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<v Speaker 5>got regional motorists out of suburban motorists.

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<v Speaker 2>So how do you get that rationing level right?

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<v Speaker 5>Cars generally are more efficient than they were many years ago,

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<v Speaker 5>so I personally probably fill up once a week now,

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<v Speaker 5>where in the old days I probably would have filed

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<v Speaker 5>that more than that. So I think it came down

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<v Speaker 5>to that. But it was pretty obvious to me that

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<v Speaker 5>the government were very flat footed. I think as soon

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<v Speaker 5>as the Iran War started, you surely thought about supply

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<v Speaker 5>chain and for US our strategic reserve being in the

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<v Speaker 5>US that was never going to come our way, so

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<v Speaker 5>they should have had a plan in place, and unfortunately,

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<v Speaker 5>I just as I said earlier, I don't think Chris

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<v Speaker 5>Bowen when he came in in twenty twenty two, would

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<v Speaker 5>have looked at our strategic reserves just how fragile they

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<v Speaker 5>are in that thirty day mark and gone, we need

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<v Speaker 5>to prioritize this to protect our sovereignty and to protect

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<v Speaker 5>our families motor workers. It's sort of like he's learning

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<v Speaker 5>it on the job. We've had shortages of ad Blue

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<v Speaker 5>during COVID. It wasn't because they couldn't come out of China,

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<v Speaker 5>but people were hoarding it. So you've got to get

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<v Speaker 5>the actual suppliers sitting around the table.

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<v Speaker 2>You've got to know who they are.

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<v Speaker 5>There's also we had gas issues in terms of gas shortfalls,

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<v Speaker 5>so you bring in all the gas bosses and you

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<v Speaker 5>lay the law down. So I've heard that there are

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<v Speaker 5>some independent fuel and other sort of private companies who

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<v Speaker 5>are hoarding as well because it's not in their best

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<v Speaker 5>financial interests. So it's going to be a pretty costly

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<v Speaker 5>exercise over a few months because we weren't prepared for this.

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<v Speaker 1>Well, Jim Thomas has clearly got a new mantra, and

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<v Speaker 1>it's giving me flashbacks to budgets a couple of budgets ago.

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<v Speaker 2>Jeff.

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<v Speaker 1>It's temporary, it's timely, and it's repet so we've got

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<v Speaker 1>six more weeks to hear that until budget night. I

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<v Speaker 1>hope you enjoy it.

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<v Speaker 5>Yeah, Well, this was supposed to be his big reforming budget.

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<v Speaker 5>He was supposed to show us how he was going

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<v Speaker 5>to lift productivity and everything's been blown out of the water.

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<v Speaker 5>And the Prime minister's a pretty cautious fellow and his

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<v Speaker 5>Treasurer has a lot of ambition.

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<v Speaker 2>So who wins the day?

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<v Speaker 5>And I think given the situation where it's been a

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<v Speaker 5>while since we've seen these cost of living sweeteners, they

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<v Speaker 5>didn't do it at my EFO. I think that there's

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<v Speaker 5>going to be more to come on this. The problem

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<v Speaker 5>is if inflation keeps going up, where does this stop?

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<v Speaker 5>For How long can the government think they can keep

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<v Speaker 5>propping up household budgets when the cost of everything keeps

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<v Speaker 5>just going through the roof And the projections are is

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<v Speaker 5>that we may well fall into recession and those cost

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<v Speaker 5>of living pressures might just keep rising and rising.

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<v Speaker 1>Well, Jeff, thank you very much and I'll see you

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<v Speaker 1>at the petrol station on Wednesday.

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<v Speaker 2>I see there.

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<v Speaker 1>Thanks, hopefully we'll see you there too. Jeff Chambers is

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<v Speaker 1>The Australian's political editor. You can read all his unrivaled

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<v Speaker 1>analysis at the Australian dot com do AU