Australia politics live: ‘Labor knows it’s illegal’, Shoebridge says in heated debate on Iran strikes; ASX falls as oil price surges

Follow today’s latest new updatesGet our breaking news email, free app or daily news podcastJoyce says petrol prices will increase due to conflictSpeaking with Tanya Plibersek on a Sunrise panel this morning, One Nation MP Barnaby Joyce says Australia should focus on building up fuel supplies under risk due to conflict in the Middle EastIt’s a shame in a crisis like this that we’ve got ourselves down to two oil refineries, so that if there’s a crisis in the production of fuel, we’re in a bad spot.We’ve got the old policies here – cross fingers, everything should be right as long as President Trump is able to bring this to a conclusion … People have got to start looking at what the effects are for Australia, not just the Middle East, and you can start looking for those effects at a petrol pump near you.There will be an economic impact of this. There was an economic impact of Russia’s invasion of Ukraine that affected the whole world, and that includes Australia. This is an area where a lot of our global oil and petrol, ultimately, is impacted by what’s being produced in the Middle East. I mean, it is a very good argument for Australia to have energy security and energy independence. Continue reading...