Squiz Shortcuts: The last time we rationed fuel

This Squiz Today podcast episode explores Australia's historical experience with fuel rationing, drawing parallels between past crises and the current geopolitical tensions in the Middle East that threaten global oil supplies. The episode traces rationing back to World War II, when Australia faced severe fuel shortages despite having more reserves than today, leading to a controversial and long-lasting rationing system that lasted years after the war ended due to post-war debt obligations to the UK. It then examines the 1979 Iranian Revolution, which triggered a second oil crisis and led to a much shorter, more effective rationing scheme based on odd-even licence plate rules. The hosts highlight how Australia’s dependence on imported fuel—now at 90% from countries like Singapore, South Korea, and Malaysia—has increased vulnerability compared to the 1970s, when global oil disruption affected only 5–7% of supply versus today’s 15%. While the government currently maintains a 30–40 day fuel reserve and has not ruled out rationing, it remains a last-resort measure, with any future system likely to limit purchases to a set dollar value for everyday drivers, while emergency services and businesses would be exempt. The episode concludes with a reflection on how public sentiment, political consequences, and economic pressures shaped past rationing policies—and how they may again influence future decisions.