Australia considers $10 billion refinery to boost fuel security

The Australian Prime Minister is negotiating with energy companies to develop a new oil refinery, potentially costing up to $10 billion, to address the nation's fuel insecurity. Australia currently maintains only a third of the fuel stocks held by comparable countries and relies heavily on offshore refineries, leaving it vulnerable in an unstable global market. The project would require significant government backing and taxpayer funding, with questions remaining about crude oil sourcing.See omnystudio.com/listener for privacy information.