This report argues that a new industry has the scope to make Australia 100% self-sufficient in transport fuels and food.

Key points:

• Australia has just 23 days’ supply of fuel in the pipeline: a major oil crisis could cripple our economy within days.

• Algae culture has the potential to make Australia 100 per cent self-sufficient in transport fuels and food.

• It can create major new industries in aquaculture, plastics, textiles, health food, paper, industrial chemicals and pharmaceuticals.

• It can generate an estimated $50 billion in new revenue and create over 50,000 new jobs, mainly in regional Australia.

• Australia’s endowment of sunlight makes it one of the world’s richest oil provinces of the 21st Century.

• Australia needs an accelerated national R&D effort into algae culture and algal biofuels, coupled with a national investment plan to capture this opportunity.