00:02Australia doesn't buy a large amount of fuel directly from the US, although we have been
00:06buying more this year because part of the process of adjusting to the Strait of War
00:10was being closed, was that we started to buy more fuel from more countries, including from
00:14the US. But the thing that happens if the US bans its exports, which is one of the things
00:19that Donald Trump has talked about, then the world price of diesel goes up. I think we've
00:27got buffers, which are what the government calls the mandatory stockholding obligation,
00:31and that helps with any potential shortages. And we do tend to adjust to shortages pretty
00:35well. We can just get cargos from other countries. But it's more that the price effect will take
00:41place because the US is a large exporter of fuel. I think any government in any country
00:46would do everything they could to avoid rationing. We had this conversation earlier in the year
00:50when the Iran war first broke out. The government does have a sort of a four-step fuel plan.
00:56And rationing is the very last resort in that. So, you know, I think we, you know, earlier
01:04in the year, for example, the government was running ad campaigns sort of advising people
01:08about how they could be more efficient, about how they use fuel, about being careful, about
01:13not panic buying, because that is one of the things that caused temporary shortages in some
01:18areas of Australia. So, you know, I think rationing is always going to be a last resort.
01:24The other thing that the federal government has put in place since the beginning of the
01:28year is this idea that they underwrite companies to bring cargos from other countries. So that's
01:34there as well. I don't think we're moving into a rationing situation. I think we're just
01:39moving into a situation where high prices are going to be sustained for a period of time.
01:46You
