Albanese has announced new fuel powers. What are they and why do they matter?

"This support from the government will not be business as usual.""It has to be additional supplies that are available on the international market, and it literally will be underwriting the purchase of shiploads of fuel to get here to Australia.""There is a risk of a private purchase of a shipload of fuel at higher prices — this is about risk mitigation for [the private sector] to add to supply here "And if those prices continue to move around, there'll be cargoes that Australia misses out on unless the government acts in close partnership."The government's argument is that without some form of backing, Australia could miss out on available cargo simply because no private company is willing to take the financial risk."These powers will be used to help acquire the additional supply that's so valuable for Australia's fuel security, where it will be cost-prohibitive for private suppliers to source on commercial terms without government support," Albanese said."The longer this war goes on, the more the impacts will be," he said