Australia controls less than 20 per cent of our liquid fuel supply and relies on imports for the other 80-plus per cent we need to keep the nation moving.

As the war in Iran continues, Australia's fuel security is front of mind for policymakers and motorists filling up at the pump.

Proponents of biofuels argue that it does not need to be this way. Instead, Australia could make fuel from our waste and organic material.

"We're starting from a relatively low base, so our potential is significant," says David Stribley, co-founder of low-carbon fuel developer HAMR Energy.

He says the Clean Energy Finance Corporation and others believe Australia could create more than half of the fuel it needs.

However, others are even more optimistic.

"We have the potential to be fully self-sufficient in our fuels and, not only that, we could be a major exporter globally," says Cyan Ventures's Fraser Thompson, who works to develop biofuel projects.