Bowen Assures Fuel Shipments Are Secured 'Well Into May' as Expert Raises Need for Self-Sufficiency

As the fuel crisis continues along with the Iran war, Energy Minister Chris Bowen has assured that fuel shipments have been secured "well into May."

However, an economist has raised the alarm regarding the fuel situation, calling for Australia to be more self-sufficient when it comes to fuel.

Fuel Shipments Secured 'Well Into May'

According to a report by ABC News, Bowen has assured the public that the government has been hard at work to ensure that enough supplies for May will be secured.

"All the orders are locked in and contracted," said Bowen. "Once it's contracted, the fuel belongs to the Australian company that's bought it ... that is legally locked in, so that's encouraging."

He added, "Of course, there is a risk in international circumstance and [the] international situation, but every step that can be taken is being taken."

Bowen previously disclosed that 53 ships carrying fuel are now on the way to Australia from different countries in Asia, as well as the United States and Mexico.

'Wake Up Call for Australia'

Despite the promising developments, an economist is urging Australia to do more amid the ongoing crisis.

According to Sky News, MST Financial energy analyst Saul Kavonic went as far to say that Australia "ceded our fuel security to foreign powers."

"This is a wake up call for Australia to become more self-sufficient in fuel again. The next disruption to maritime trade could occur closer to home in the Pacific, leaving Australia without any fuel, and our economy would grind to a halt within weeks," said Kavonic.

"Australia must act to avert the economic and national security risks posed by our fuel import dependence," he added.

Addressing the calls to turn to renewable sources of energy, Kavonic pointed out that "renewables are simply not practical to replace jet fuel and diesel at this time."