The fire that broke out at Viva Energy's Corio refinery near Geelong on Wednesday night could not have come at a worse time for Australians or the Albanese government.

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With refinery workers warning the blaze could halt the production of unleaded for weeks - and a slowdown in the production of diesel and aviation fuel already in place - the calamity makes the Prime Minister's efforts to beg, borrow and buy fuel to keep Australia moving even more urgent.

Corio supplies more than 50 per cent of Victoria's and 10 per cent of Australia's fuel.

The Energy Minister Chris Bowen noted on Thursday morning, in a curiously worded statement: "This is not a positive development in Geelong. Let's not pretend somehow that this won't have some sort of impact."

So, how is it that a country as rich in resources as this one - which has a proven track record of extracting and refining its own oil in the past, is now so dependent on the kindness of strangers that foreign leaders can dictate how much tax we impose on our LNG exports?

While Labor is desperate to spin this as a fuel emergency entirely caused by the attack on Iran by America and Israel, that is merely blame-shifting; an attempt to disguise the real issue. The primary cause is the failure by the federal government to properly manage a clearly foreseeable risk which astute individuals - including the late Senator Jim Molan - were warning about over a decade ago.

While both Coalition and Labor governments must accept their fair share of the blame........

© Canberra Times