Australia does not directly import any oil through the Straits of Hormuz. All of it comes via countries that are not at war with Iran. So as of today our supplies are completely open. The reporting on this is appalling. #auspol #iranwar
@andyjennings I saw a piece on either SBS or ABC last night that explained that most of it comes from crude oil from Malaysia or Brunei
@jonlawrence i'm getting family members cancelling their holidays because we will have no petrol after May. Just crazy stuff.
@andyjennings
But some of them are holding back on supply to us in order to ensure their own internal supply, so we still have to be cautious.
@RHW sure. But not panic
@andyjennings we're america now. happened a while back. not great, to be honest, i'm not a huge fan.
@andyjennings I hope the Australian retailers hear about this soon. Garbage Collectors are saying they can't afford to stay in business.
@andyjennings The media loves a good sensational story, truth be damned... Then that led to panic buying which led the the shortage which led to more sensational stories and the cycle continues…
@andyjennings Of course it will be a bigger and bigger problem that 20% of supply is locked up so there will be a lot of re-allocation. Hopefully this kick starts a push for things like more rail freight and more electrification though.