Jul 19, 2026 (The Age - ABIX via COMTEX) --
Climate Council member Greg Bourne contends the best way to reduce Iran's leverage over the Strait of Hormuz is for Australia to use less oil, rather than find alternative ways of getting it to Australia. A former president of oil firm BP's Australasian business, Bourne was commentating on the fact that shipping through the Strait of Hormuz - which carries one in every five barrels of oil traded worldwide -has now basically ground to a halt again after a new wave of Iranian strikes on oil and natural gas tankers. He says that now Iran has found how much impact it can have on the global economy by blocking the Strait of Hormuz, it is not an asset it is going to give up at any time soon..
Publication Date: 20 July 2026
CLIMATE COUNCIL OF AUSTRALIA LIMITED
BP PLC
COMTEX_489033131/2229/2026-07-19T22:58:05
By Nick Toscano
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