"When it comes to economic viability, there's a reason that Australia has seen six of the eight refineries shut down over the last 20 years, and in particular, the last two, even those requiring government support to keep going," Saul Kavonic, an energy analyst at MST Financial, told ABC radio on Tuesday.However, Kavonic said a new refinery would help with addressing "acute" risks exposed by the recent crisis — even if it wasn't combined with an increase in domestic crude oil production."One thing we have noticed from this crisis is, while there is a shortage of global crude oil, the shortage for refined products has been even worse And so having refining capacity, even without additional new crude oil supply, is still going to help with our resilience, particularly to getting jet fuel and diesel, which is where we've had the most acute risk for the Australian economy," said Kavonic."But realistically ..