Greens move for inquiry into future oil supply and alternative fuel sources

The Australian Greens today announced details of a proposed Senate inquiry into Australia's future oil supply and alternative fuel sources.

Australian Greens energy spokesperson Senator Christine Milne said growing public concern about the price of petrol and the rapidly rising demand for oil pointed to the need for a thorough inquiry.

"Many Australians are finding it difficult to afford higher fuel prices but it is unlikely that prices will drop substantially in the foreseeable future, if at all," Senator Milne said today in Canberra.

"Oil imports are expected to rise significantly, adding further pressure to Australia's trade balance, current account deficit and therefore interest rates.

"There are also growing concerns that global oil supply is not going to keep up with the increasing fuel demands of developing countries like China, in addition to existing high fuel users like the US.

"For social, environmental and economic reasons we need to change the way that planners, engineers and policy-makers view transport so we can reduce our reliance on oil and develop alternative fuel sources.

"The government's answer - to set a target for ethanol use - is no answer at all. It is more about appearing to act and appeasing certain groups which stand to gain financially in the short term.

"What Australian people and businesses need is certainty about where our future transport fuels will come from in the medium to long-term.

"With transport accounting for 14.5 percent of greenhouse gas emissions and having risen by around 2 percent annually since 1990, it is also vital that any future fuel option reduces pollution that is contributing to climate change.

"The Greens will be seeking the support of all parties in the Senate to inquire into Australia's future oil supply and alternative fuels."

A copy of Senator Milne's motion appears below.

Contact: Katrina Willis 03 6234 4566 or 0437 587 562

NOTICE OF MOTION

SENATOR CHRISTINE MILNE

I give notice that on Thursday 13 October 2005 I will move:

That the following matter be referred to the Rural and Regional Affairs and Transport References Committee for inquiry and report by the last sitting day in March 2006:

Australia's future oil supply, with particular reference to:

(a) projections of oil production and demand in Australia and globally and the implications for availability and pricing of transport fuels in Australia;

(b) potential of new sources of oil and alternative transport fuels to meet a significant share of Australia's fuel demands, taking into account technological developments and environmental and economic costs;

(c) flow-on economic and social impacts in Australia from continuing rises in the price of transport fuel and potential reductions in oil supply;

(d) options for reducing Australia's transport fuel demands.

Source - Australian Greens Media Release