The Nationals Senator for Queensland, Barnaby Joyce says the ever-escalating fuel price is a clear sign it’s time for change and the mandate of ethanol would be a big step in the right direction.

“With the fuel price yesterday reaching a record of $1.80 in Cape York and $1.50 in other areas of Queensland, it’s now more than obvious an alternative fuel strategy is a crucial step forward for our nation,” Senator Joyce said.

“Do you remember when the price of fuel went past $1.00 and everyone said it was a temporary glitch in market? They said the price would come back down and Saudi would produce more oil. Well, neither of these things happened, nor are they likely to.

“Is Australia ready to go into a bidding war with countries like China and India for a dwindling finite resource when they have a combined population of more than 4 billion and we’re a nation of 20 million?

“If we don’t determine our future fuel requirements with bio-renewable mandated ethanol as a starting position, then other forces will determine those requirements for us. They will do this by making the price of fuel inaccessible for many people.

“As Australians, we should reflect how much of our freedom comes from our ability to jump in a car and drive around and how this freedom would be affected if the affordability of that was beyond our reach.

“Finally, how much of our expanding trade account deficit do we want to be tied up in our purchase of fuel? Crude oil contributed 488 million dollars to our trade account deficit in 2001. In 2005, this is estimated to grow to 6.3 billion dollars. That’s a more than tenfold increase in five years. Add to that the devaluation of the Australian dollar and you have a crude oil-fuelled recipe for a trade account disaster.

“So let’s mandate ethanol and develop an alternate fuel strategy, not only for our freedom for transport requirements but to protect the economy of our nation,” he said.

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