The Victorian Liberal Nationals welcome the Federal Liberal Government’s $2.5 billion assistance package, announced today, which will help keep Victoria’s oil refineries at Geelong and Altona open.
Here, the Federal Liberal Government has shown leadership where the Andrews Labor Government had failed.
This will help protect over 1,000 jobs at Victorian oil refineries in Geelong and Altona. These jobs were at risk due to reduced demand for fuel, flowing from Daniel Andrews’ extreme COVID-19 movement restrictions.
These measures will also protect jobs across the supply chain, for workers in industries supplied by and benefiting from Victorian oil refineries. For example, the Geelong oil refinery has over 50 suppliers.
All of these jobs are now safer because of the Federal Liberal Government’s clear plan to help Victorian oil refineries.
The package will provide up to $4.9 billion in value to consumers in lower fuel prices over 10 years, and encourage $1.9 billion in industry-led energy efficiency upgrades.
This is a positive step to promote our refining industry. Ten years ago, Australian refineries produced 83 per cent of domestic fuel sales, this slid to 47 per cent by 2019-20. Today’s announcement will help reverse this trend.
The package also does the right thing by Victorian consumers, by obliging the companies who benefit to store a minimum amount of petrol, jet fuel and diesel. This protects our energy security.
Under the plan, Australia will also get an extra 780 megalitres of diesel storage, creating 950 new jobs.
This strong support for Victorian fuel producers from the Federal Liberal Government strengthens our energy security in the face of Daniel Andrews and Labor’s damaging COVID-19 lockdown.
Comments attributable to Shadow Minister for Resources, Ryan Smith:
“The Victorian Liberal Nationals welcome the Federal Liberal Government’s decisive leadership to help protect Victorian oil refineries.
“Daniel Andrews’ COVID-19 restrictions were putting over 1,000 jobs and our domestic fuel supply at risk. The Federal Liberal Government’s $2.5 billion announcement protects the jobs of those hardworking Victorians.”
