fromTNW | Au
9 hours agoAustralia bets $22.7B on renewables after Hormuz crisis exposes developed world's worst fuel vulnerability
Australia imports roughly 80 per cent of its refined fuel and holds the lowest fuel reserves of any member of the International Energy Agency, with only 36 days of petrol and 29 days of jet fuel. This situation was starkly highlighted when the Strait of Hormuz was closed, leading to a surge in Brent crude prices and exposing the existential nature of Australia's energy crisis.
Environment