https://quadrant.org.au/opinion/qed/2018/09/paris-treaty-important/
While our leaders have been eager to impress the world with Australia’s resolve to hobble its economy before the altar of the climate gods, another international accord is observed only in the breach. That’s the one insisting we maintain 90-day fuel supplies.
It seems we are finally rid of Julie Bishop, who resigned in a huff as foreign minister because she wasn’t made prime minister. Apparently, among the slights of her rejection, what particularly rankled was her failure to get a single party-room vote from any of her fellow WA Liberals. Presumably they know her better than anyone, which no doubt explains a lot. For others, those who have not lashed themselves to the mast of the Liberals’ Hesperus, she also uttered this reminder of her lack of fitness for higher office: Australia must honour the Paris Agreement and reduce emissions by 26%. “When we sign a treaty,” , she said, “parties should be able to rely on us.”
Yes, we should honour the Paris agreement — but not the climate one. There is a far more important treaty, also signed in the City of Light, to which are signatory. This is the International Energy Agency agreement of 1974, born out of the OECD in response to the First Oil Shock. The idea was that all the signatories would keep 90 days of fuel supplies on hand and be prepared to share in the event of an emergency.
Australia signed on in 1979 but is not honouring our treaty obligations. We know that because the new Department of Energy, under its new Minister Angus Taylor, says so. From the website (emphasis added):
As an IEA [International Energy Agency] member and signatory to the IEP Treaty, Australia is required to hold oil stocks equivalent to at least 90 days of the previous year’s average daily net oil imports. The Department is working to implement Australia’s compliance plan to address the current shortfall in oil stockholdings. The Department’s priorities for the IEA include working with the IEA to progress Australia’s plan to return to IEP treaty compliance.