The Wire

As Oil Prices plummet around the globe, Australia looks to bolster its reserve. Federal Energy Minister Angus Taylor recently travelled to America with the intent of signing a deal which, if passed, will secure Australian access to the US petrol and crude oil supply.

But despite creating this deal, Australia’s own reserves remain low, with reports last year that Australia only has a third of what is internationally mandated in reserves. So why has Australia failed to meet these goals? And what does the new deal mean in this turbulent market? Ryan Stanton has the story.