Despite producing premium, high-value crude oil, Australia has systematically dismantled its domestic refining industry, leaving the vast nation dependent on Asian imports for up to 90% of its everyday fuel . With only two aging refineries remaining and critically low strategic reserves, this fragile "just-in-time" supply chain has exposed a massive vulnerability . It is a stark, textbook lesson on the catastrophic risks of trading long-term national security for short-term economic gains