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Speaker 1: Your cabinet decision. You heard it yesterday, You saw it yesterday.

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Speaker 1: It's a plan to try and ease our energy woes.

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Speaker 1: The Oil and Gas Exploration Band will be overturned by

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Speaker 1: the end of the year, but they want Labour's support

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Speaker 1: to do it, to try and make it an enduring thing.

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Speaker 2: When there was talk of Lake Onslow sitting there at

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Speaker 2: sixteen billion dollars delivery in twenty thirty eight. That stops

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Speaker 2: people from wanting to invest in actual, proper infrastructure and renewables.

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Speaker 1: As a consequence, he says his agnostic as to whether

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Speaker 1: we get the gas that clearly the country needs from

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Speaker 1: domestic sources or whether we import it. Joining me now

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Speaker 1: is John Carnegie Energy Resources Olteed Archief Executive John. Good Morning,

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Speaker 1: Good morning, Ryan, Good to have you on the show.

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Speaker 1: So do we import it or do we get at ourselves?

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Speaker 2: Well, I think as the Prime Minister has said, we're

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Speaker 2: likely to need both foreign gas, probably as a backstop.

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Speaker 2: But look our preferences that our untapped we have untapped

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Speaker 2: domestic natural gas and we should be using that.

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Speaker 1: Why aren't we tapping it? Is it stuff that we

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Speaker 1: know is there? We haven't actually gone down and extracted

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Speaker 1: yet or set up the extraction.

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Speaker 2: Oh look, we've had a range of policies from previous

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Speaker 2: governments that have been targeted at suppressing actively suppressing a

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Speaker 2: role of natural gas in the economy, and the investment

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Speaker 2: conditions haven't been appropriate.

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Speaker 1: Here's the problem though, right because National is saying yep,

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Speaker 1: it's all on you turn the taps on, but Labour's

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Speaker 1: not saying that. Labor is saying we will not overturn

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Speaker 1: that oil and gas expiration band. So if you're an investor,

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Speaker 1: are you really going to care if just the Nats

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Speaker 1: are saying that because we could have a change of government, right.

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Speaker 2: Well, the Minister for Resources has been looking and publicly

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Speaker 2: using about a range of tools to address the massive

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Speaker 2: sovereign risk at the sector faces. But I guess coming

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Speaker 2: back to your point, actually keeping the lights on shouldn't

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Speaker 2: be a partisan political issue, you know, we should there's

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Speaker 2: a big investments regardless of whether it's foreign guests or ours.

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Speaker 2: It shouldn't be a political football. And actually I'm pretty

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Speaker 2: sure that the people of Ratty are thinking that right

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Speaker 2: about now as well. Yeah.

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Speaker 1: Well and a lot of them unionized ironically too. Just

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Speaker 1: coming back to that sovereign risk issue. They've ruled out subsidies.

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Speaker 1: How else can you shore up business confidence without using

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Speaker 1: the likes of subsidies and without the support of labor.

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Speaker 2: Yeah, well that's a good question. I see that as

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Speaker 2: a part of the announcement yesterday that they are seeking

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Speaker 2: further work from officials on how to address the sovereign

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Speaker 2: risk issue actually for both our domestic natural gas resource

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Speaker 2: as well as for potential investment in LNG. And as

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Speaker 2: I said the Minister of Resources, he's been talking about

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Speaker 2: bonds and long term contracts. I'm not quite sure that

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Speaker 2: either of those are going to be fit for this

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Speaker 2: particular purpose, but he's definitely on the right track. Basically,

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Speaker 2: what's needed are sufficiently if you're investing. What you want

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Speaker 2: is you want to know that if you're going to

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Speaker 2: invest hundreds of millions of dollars, that your investment will

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Speaker 2: be whole when politics changes in six or nine years time.

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Speaker 2: And it's really hard. Of course, there's one parliament can't

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Speaker 2: bind the next. That's right, So you're talk you're talking

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Speaker 2: about contractual measures. I mean, there are a range of

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Speaker 2: range of thoughts going around the public sector at the moment,

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Speaker 2: and government and We're going to work closely with him

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Speaker 2: to ensure that they reached the right landing point.

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Speaker 1: All right, we'll be interesting to keep us up to

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Speaker 1: date with that. John John Carnegie Energy Resources altered chief

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Speaker 1: executive eighteen minutes after five Rainbridge. I mean contracts can

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Speaker 1: be good out of two. Look at the ferries, right.

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Speaker 1: You sign a big contract, you say you're going to

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Speaker 1: do something, you say you're going to buy something, you

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Speaker 1: say you're going to sell something. New government comes along

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Speaker 1: and it's all over. Nine two ninety two is the

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Speaker 1: number to text. What do you think Labour should be doing?

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Speaker 1: What they're not doing is coming on this show this morning.

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Speaker 1: I can tell you that much. But Hipkins is tweeting.

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Speaker 1: Hopkins is tweeting about this, and he's blaming not the

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Speaker 1: oil and gas band that his government introduced. No, he's

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Speaker 1: blaming the mixed ownership model that John Key brought in.

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Speaker 1: Remember when we flogged off the state assets. I was

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Speaker 1: in the back of a bus following Phil Goff around

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Speaker 1: that election. God, it was depressing anyway that all happened.

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Speaker 1: And now that is who we are blaming. According to

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Speaker 1: Christopher Hopkins, he did a face palm emoji in his

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Speaker 1: tweets and he says we have enough renewable energy in

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Speaker 1: New Zealand. The market has prioritized profits rather than supply. Okay,

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Speaker 1: I just to you know this idea that in order

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Speaker 1: to solve this crisis we need more government. We should

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Speaker 1: never have sold bits of that company. We need more

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Speaker 1: government to be sorting it out. I mean, how is

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Speaker 1: key we ral done with investing into infrastructure. How have

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Speaker 1: our hospital's done with investing into infrastructure? I think is

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Speaker 1: backwards thinking. For more from News Talks B listen live

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Speaker 1: on air or online, and keep our shows with you

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