Australia used to produce our own oil and transport fuel.
Now, over 85% is imported as oil or finished fuel. Most of the oil comes from the middle east, and the finished fuel from Japan, Korea and Singapore. It has to travel a long and perilous route to get here, and we have less than a month in reserve.
Given the importance of fuel to every part of our lives, it just makes sense for us to develop our own fuel sources when we can.