The brave new world of high fuel prices

The price of a barrel of oil reached a record price of over $US72.00. According to Fuel Watch, unleaded petrol is selling in Melbourne at $1.39.

The typical six cylinder family car consumes about 11 litres / 100km. That's the typical round trip for many rural residents visiting Wangaratta. That's $15.30 to buy the groceries!

At what price will it affect your driving habits?

Whilst crude oil prices remain above $70 / barrel, the watchdog will present you with world-wide articles and information about our future in a world of ever-increasing fuel costs.

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Global oil prices continue rising
ABC Goulburn Murray | Tuesday, 18 April 2006. 12:49 (AEDT))
Global oil prices continue to climb to record heights as Australia's grain growers prepare for this year's planting season.

Last night New York benchmark crude oil closed at more than $US70 a barrel for the first time in 23 years of trading. – full story...

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Govt leaves Australian economy exposed on high oil prices
The Greens media release
The federal government has left Australia exposed to a serious economic shock over the cost of oil, Australian Greens energy spokesperson Senator Christine Milne said today.

"Treasurer Peter Costello has expressed surprise at how long oil prices have remained high and says continuing high oil prices could cause economic problems for Australia," Senator Milne said in Hobart.

"But the signs have been evident for all to see. At an international level, for every 2.3 barrels of oil used, only one barrel is discovered while Australia's domestic oil supplies are falling and no new major oil fields have been discovered in the past 20 years. – full story...

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Petrol to stay high, warns PM
April 20, 2006 - 11:31AM
Prime Minister John Howard says he expects oil prices to only "recede a little bit" in the near future.

Crude oil prices have jumped past $US72 a barrel today, sending fears that consumers, already paying record prices, will have to pay more at the bowser. - read article ...

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MPs in 'back pocket' of giants
Lachlan Heywood and Leigh Lalonde
Brisbane Courier Mail - April 21, 2006
MAVERICK Queensland Nationals Senator Barnaby Joyce has accused Howard Government ministers of being "greased up" by big oil companies.

In an extraordinary attack on his Coalition colleagues, Senator Joyce yesterday said certain MPs were in the "back pocket" of the oil giants, but refused to name who they were. - read article ...

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Time's right for fuel alternatives: Costello
The Age - April 20, 2006
Alternative fuel makers should take advantage of current record high oil prices and start experimenting and producing new forms of energy, Treasurer Peter Costello says.

Mr Costello's comments follow a call from Victoria's peak motoring organisation for Australia to break its dependence on imported oil. - read article ...

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PM rules out petrol tax cuts
The Age - April 21, 2006 - 11:57AM
Prime Minister John Howard has ruled out altering petrol taxes, despite predictions the pump price will cross the $1.40 mark.

Mr Howard said the government did not receive any additional excise from higher petrol prices, while the states' gain from GST on petrol could be offset by decreased consumer spending. - read article ...

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