Listen to today's (23/6/08) AM programme here. It should appear later today.
MARTIN FERGUSON: Australia like the global community, has sat down today and had a hard think about how we actually assist not only ordinary motorists in Australia but also developing countries to meet the challenge of increases in oil prices which goes to the fundamentals of the market issues of supply and demand, and in doing so try and assist the whole community to confront the oil crisis that exists at the moment.Mar'n Ferg'sn, trade envoy to the Middle East. Double speak saying nothing.
Mr Ferguson addressed the meeting overnight and believes Australia has a number of appropriate strategies to deal with the imbalance in supply and demand.You must hear it.
"The Australian government will be focusing on key issues such as easing foreign investment restrictions, which is not only about additional supply but getting nations to invest in new technology," he told Sky News.
"(We want to) encourage investment in countries where there have been barriers to the production of oil, side by side with putting transparency into the market."
Julie Bishop on the Ferguson strategy:
Deputy Liberal leader Julie Bishop criticised the language used by Mr Rudd, saying Mr Ferguson would spend much of his time cleaning up the diplomatic mess.From the transcript list for AM today...
"For a former diplomat Mr Rudd has a clumsy way of dealing with international players," she told Network Ten.
"I would imagine Martin Ferguson will spend most of his time cleaning up that mess on behalf of the prime minister.
"The idea of Martin Ferguson turning up in Jeddah and saying to the oil producers, `the world wants so much of your product we want you to lower the price.' I mean, markets don't work that way."