<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>As the </span><a href="https://www.9news.com.au/petrol-prices" rel="" target="" title="fuel crisis"><span>fuel crisis</span></a><span> continues to deepen, the </span><a href="https://www.9news.com.au/queensland" rel="" target="" title="Queensland"><span>Queensland</span></a><span> government is reportedly looking to fast-track the opening of an </span><a href="https://www.9news.com.au/oil" rel="" target="" title="oil lake"><span>oil lake</span></a><span> the size of </span><a href="https://www.9news.com.au/singapore" rel="" target="" title="Singapore"><span>Singapore</span></a><span>.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The Queensland </span><a href="https://www.9news.com.au/government" rel="" target="" title="government"><span>government</span></a><span> has already granted several companies approval to conduct exploration work at the Taroom Trough, an oil lake the size of Singapore, just 300km west of </span><a href="https://www.9news.com.au/brisbane" rel="" target="" title="Brisbane"><span>Brisbane</span></a><span>.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The investigation of the site will allow the government to learn by the end of 2026 whether it is viable to drill into the lake and extract the supplies.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/national/looksmaxxing-trend-what-it-is-hidden-dangers-for-young-men-everything-to-know-explained/9716facc-5b9e-437d-8be2-ecac03743ee5" rel="" target="" title="READ MORE: The rise of Looksmaxxing: 'Creating shame and secrecy among young men'"><strong><span>READ MORE: The rise of Looksmaxxing: 'Creating shame and secrecy among young men'</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>While it is not an immediate relief from the ongoing shortage, if it is deemed usable, oil could be extracted from the site as early as 2028.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>In Queensland alone, more than 100 service stations were out of fuel yesterday, with even more shortages across the nation.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The reports come just days out from the federal government being poised to reveal a national emergency fuel plan that will allow industries that require the supplies most to secure quantities.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/queensland-oil-reserve/c3952d81-23f7-4770-8eb2-bcc4d1def204" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/national/tropical-cyclone-narelle-severe-storm-batters-western-australia-coastline/5f398dd7-33fb-4e2e-8226-79371f263552" target="" title="'By far the worst, the most scary': Tropical Cyclone Narelle makes landfall in third state"><strong><span>'By far the worst, the most scary': Tropical Cyclone Narelle makes landfall in third state</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The plan would aim to create safeguards for supplies going to industries, such as farming, trucking and emergency services, as well as to regional areas.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>There are calls from the opposition, however, to slash the fuel excise to immediately reduce costs for drivers.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"When you fill up your car, about 52 cents every single litre goes to taxation," Shadow Foreign Minister Ted O'Brien told </span><em><span>Today</span></em><span>.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"So we need to cut that taxation in half for a three-month period."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Cutting the tax would carry consequences for the federal budget, which brings in billions of dollars each year.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>However, the fuel crisis is expected to affect the budget regardless.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><em><span>NEVER MISS A STORY:</span></em></strong><span> </span><em><span>Get your breaking news and exclusive stories first 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