A move towards re-establishing oil refining in Western Australia will help to protect the State and the Nation from future oil shocks.
CCIWA has welcomed the commitment of funding from the State and Federal Governments for a study, examining whether an oil refinery proposed by fertiliser giant Perdaman in Karratha would be feasible.
CCIWA Chief Executive, Will Golsby, said the Iran war has shown how vulnerable WA is to global supply chain disruptions.
“It’s absolutely vital that everything is on the table when it comes to establishing secure and sovereign oil refining capabilities,” he said.
“Any investment that ensures reliable and low cost fuel will help to keep WA moving. The Pilbara is the engine room of the state, and Perdaman is well placed to help redevelop local fuel processing supply chains.”
Mr Golsby said the longer the Iran conflict continues, the more uncertain fuel supply becomes.
“Aside from the cost shock we all felt at the bowser when the conflict broke out, there were very real concerns in regional WA and throughout our industries about fuel supply,” he said.
“We are not out of the woods yet when it comes to either of those issues.
“As the world becomes more uncertain, it’s important that we take decisive action to protect our economy from future shocks.”
Mr Golsby said consideration should also be given to the future role of biofuels, a point highlighted in CCIWA’s recent Energy Transition Report – Powering WA’s Future.
“Industry believes there’s huge potential in biofuels and WA is well positioned to capitalise on the demand for alternatives,” he said.
