Gale.........a problem is never actually a real problem UNTIL it affects yourself !
Fortunately , Nixon's fuel policies had very little effect on us ....however , the "Nixon Shock" of 1971 (ending the dollar's convertibility to gold) had a significant and indirect impact, forcing Australia to float its currency in 1983, which made its economy more flexible but also more vulnerable to global volatility. The 1973 OPEC oil crisis was also a major event, but Australia was partially protected initially because domestic oil prices were kept below market levels until 1975, with prices shifting to world parity pricing over the next few years.
We are an oil and gas EXPORTER and yet we IMPORT most of our petroleum fuels because we have allowed the 'oil refineries' to close [ which makes us reliant on an offshore supplier who could 'turn it off' at any time which makes us very dependent and very , very vulnerable !].
This follows in the 'footsteps' of most products since we hardly manufacture anything anymore !
Personally , I think it is a terrible blunder and a potential military disaster !
If one is worried about a potential military disaster, just stockpile enough product. Later refineries can be built in emergencies, without massive regualtions, in a reasonable amt of time. History shows how much can be built in emergency situations. Also important to remember that the countries with refineries are also addicted to the money. They can cut u off but they will also not be getting paid.
Gale.........a problem is never actually a real problem UNTIL it affects yourself !
Fortunately , Nixon's fuel policies had very little effect on us ....however , the "Nixon Shock" of 1971 (ending the dollar's convertibility to gold) had a significant and indirect impact, forcing Australia to float its currency in 1983, which made its economy more flexible but also more vulnerable to global volatility. The 1973 OPEC oil crisis was also a major event, but Australia was partially protected initially because domestic oil prices were kept below market levels until 1975, with prices shifting to world parity pricing over the next few years.
We are an oil and gas EXPORTER and yet we IMPORT most of our petroleum fuels because we have allowed the 'oil refineries' to close [ which makes us reliant on an offshore supplier who could 'turn it off' at any time which makes us very dependent and very , very vulnerable !].
This follows in the 'footsteps' of most products since we hardly manufacture anything anymore !
Personally , I think it is a terrible blunder and a potential military disaster !
If one is worried about a potential military disaster, just stockpile enough product. Later refineries can be built in emergencies, without massive regualtions, in a reasonable amt of time. History shows how much can be built in emergency situations. Also important to remember that the countries with refineries are also addicted to the money. They can cut u off but they will also not be getting paid.