Australia’s Coalition is backing a bold move to build a new oil refinery in Western Australia, as global oil prices surge past $100 a barrel and fuel supply fears mount. With only two refineries left and the nation’s fuel reserves at a critical low, the federal and WA governments are jointly funding a $4 million study to assess the feasibility of Australia’s first major refinery in 60 years. Shadow Treasurer Tim Wilson says the Coalition supports boosting domestic refining capacity to shield against future oil shocks — and they’ve already pledged to double fuel reserves to 60 days. This could be a turning point for energy independence, but the study’s findings will decide if this ambitious project becomes reality.
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