7am Chris Bowen on the fuel crisis, a gas tax, and backing the Iran war
Mar 25, 2026
Chris Bowen, Australia’s Federal Energy Minister responsible for national energy policy, discusses fuel reserve readiness and how stockpiles are being reformed. He outlines contingency plans like rationing and emergency laws. Bowen also tackles whether windfall taxes should hit gas companies and explains Australia’s reasons for supporting action against Iran.
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Domestic Oil Stocks Improved Supply Resilience
- Australia improved fuel security by requiring companies to hold oil stocks domestically instead of in Texas.
- Chris Bowen said the minimum stock obligation and keeping two refineries raised domestic readiness compared with prior years.
90 Day IEA Requirement Is Misunderstood Costly Option
- The IEA 90-day stock rule measures import days and can be satisfied by stocks held anywhere, not daily domestic consumption.
- Bowen said meeting a 90-day in-Australia requirement would cost about $20 billion over four years.
Use Voluntary Cuts Before Considering Rationing
- Follow the Liquid Fuel Emergency Plan: start with voluntary measures like reducing driving and boosting public transport.
- Bowen stressed rationing is a last resort only if supply, not demand, is severely constrained for months.