The portion of the trade deficit attributable to the importation of fuel has gone up by a factor of 20 times since 2000/01.

That’s right! This is not a typo. The portion of our trade deficit attributable to the importation of fuel is now $9.953 billion for the 2005/06 financial year (annualised over the previous 8 months).

Here is yet another excellent reason for Australia to produce its own fuel requirements through such things as domestic ethanol replacing imported oil. The oil companies must also play their part by buying this product from our domestic ethanol producers.

To secure Australia’s fuel requirements for this century, we can no longer drag the chain on ethanol. We must establish the 10% mandate The Nationals have clearly articulated for years and stop throwing around excuses as to why this in not possible in our country. It’s a feasible option in several other countries, which are merrily running past us, as they unequivocally deal with the fact that oil is a diminishing resource which comes from a very unsettled part of the world.

The trade deficit, and Australians in general, can be the benefactors of a bio-renewable fuel industry by getting with the program and producing ethanol. We are currently the casualties of our overwhelming reliance on oil based fuels.

I don’t know about you but I want the option of being able to take my car out of the garage.