News live: Australia dealing with ‘the largest energy shock in our history’ as strait of Hormuz tensions continue, industry minister says

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Meanwhile ACT independent David Pocock is calling for a 25% tax on gas exports to fund welfare and housing. Follow today’s news live

NSW firefighters investigating cause of fire at regional high school overnight

New South Wales firefighters have contained a blaze at a high school in Lake Macquarie, south of Newcastle.

It’s a very volatile situation, to say the least.

That’s why the Australian government’s been calling for de-escalation and a cessation of hostilities and why we’ve been working so hard on these fuel and fertiliser security questions, not just here in Australia, but in the region, to do everything that we can, to provide a shock absorber, to cushion Australia and Australians from as much of … what is clearly the largest energy shock in our history.

It’s important, I think, not to focus on the, the daily see-sawing of activity.

Because events are moving very fast and our job here as the Australian government is to focus on what it is that we can do in fuel security terms now, but also to invest in the future, to build energy resilience in Australia and build our industrial capability, to shape a future that makes Australia more economically resilient and stronger.

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