Australia hasn’t built an oil refinery in decades. But that could change

Busakorn Pongparnit/Getty The Australian government this week announced plans to construct a new large-scale oil refinery in Western Australia. If approved, it would be the first refinery to be built since the 1960s. The federal government initially touted the idea of a government-backed oil refinery in April. In the months since, Australians have grappled with surging petrol prices triggered by the prolonged US-Iran war. The federal government, with Western Australia, has now announced it will…