The federal government has announced a fuel security package to shore up Australia’s two remaining oil refineries, in Geelong and in Brisbane, with a hefty price tag of up to $2bn. Australia’s response to fuel security has been a hodgepodge of ineffective policies and taxpayer-funded subsidies, and this week’s announcement is another Band-Aid solution. It sits neatly in the budget alongside the $8bn in fuel tax credits (which is set to rise to just under $10bn in five years).

Source: Australian subsidies give oil refineries the whole carrot farm while electric vehicles get the stick | Richie Merzian | The Guardian