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Senate establishes inquiry into future of Australia's oil supply.



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Media release

Christine Milne Australian Greens Senator for Tasmania

Senate establishes inquiry into future of Australia's oil supply •

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Senator Milne, 29th November 2005

The Senate today approved an Australian Greens' proposal for an inquiry into the future of Australia's oil supply.

Australian Greens energy and transport spokesperson Senator Christine Milne, who initiated the proposal, said the inquiry would provide an opportunity for thorough consideration of a crucial issue for the nation.

"World oil supply is not keeping pace with demand, which means the days of low petrol prices are over," Senator Milne said in Canberra.

"This inquiry will provide an important opportunity for the community, business and experts to participate in developing a strategic plan for the transition towards a more sustainable future."

The Rural and Regional Affairs and Transport References Committee will conduct the inquiry into 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.

The committee is due to report by 15 June 2006.

Contact: Katrina Willis 02 6277 3063 or 0437 587 562