Summary
Australian federal regulation made under the National Security Act 1939, imposing mandatory security requirements on bulk oil installations (refineries, storage terminals, and depots). The instrument likely establishes perimeter security, access control, surveillance, reporting, and emergency response requirements for facilities handling significant quantities of petroleum products. Administered by the Attorney-General's Department, it appears to have been registered in August 2014.
Reason
Security of oil installations is already strongly incentivized through private property rights, insurance markets, and operator self-interest - owners have every reason to protect valuable assets. Government-mandated security prescriptions are inherently less efficient than market solutions because regulators lack the granular knowledge of each facility's vulnerabilities and cannot adapt quickly to changing threats. This regulation adds compliance costs that are passed through to consumers as higher fuel prices, disproportionately affecting rural and remote operations in WA and NT where oil infrastructure is often distant from population centers. Additionally, such regulations frequently become vehicles for incumbent protection through prescriptive barriers to entry, and duplicate existing state-level security and work health safety requirements. The national security rationale conflates the government's legitimate role in preventing terrorism with unnecessary micro-management of private property security arrangements.