1 00:00:00,120 --> 00:00:03,080 Speaker 1: The government is reversing our ban on oil and gas exploration. 2 00:00:03,160 --> 00:00:05,040 Speaker 1: The reality of the gap between the renewables and the 3 00:00:05,040 --> 00:00:07,200 Speaker 1: real world has come back to bite us as gas 4 00:00:07,200 --> 00:00:09,119 Speaker 1: supplies are dropping in each winter. We walk a very 5 00:00:09,160 --> 00:00:11,039 Speaker 1: fine line between supply and demand. Now the Minister of 6 00:00:11,080 --> 00:00:12,640 Speaker 1: a Resource of Shane Jones' is back with us. 7 00:00:12,680 --> 00:00:14,880 Speaker 2: Good morning, correct, Hey morning folks, Gora. 8 00:00:15,040 --> 00:00:18,360 Speaker 1: Now the legislation later on this year. Why can't it 9 00:00:18,400 --> 00:00:19,720 Speaker 1: be quick? At what's the hold up? 10 00:00:22,040 --> 00:00:24,200 Speaker 2: Obviously we had to be very careful as to how 11 00:00:24,239 --> 00:00:27,280 Speaker 2: we made the announcement because there are share market implications 12 00:00:27,840 --> 00:00:29,640 Speaker 2: and we want to get this right because if you 13 00:00:29,760 --> 00:00:33,440 Speaker 2: go back five or six years ago, Megan Woods, we're 14 00:00:33,440 --> 00:00:38,240 Speaker 2: seenergy minister in the history of Western civilization and Jacinda 15 00:00:38,600 --> 00:00:41,840 Speaker 2: rushed this court. Winston and I runaways and that left 16 00:00:41,880 --> 00:00:44,000 Speaker 2: me with the Kobuki faces. And we don't want to 17 00:00:44,000 --> 00:00:47,960 Speaker 2: repeat the error of ambushing people. So take the time 18 00:00:48,000 --> 00:00:50,720 Speaker 2: to get it right and to boost the desirability of 19 00:00:50,800 --> 00:00:53,800 Speaker 2: New Zealand as a further destination for international capital. 20 00:00:53,880 --> 00:00:56,480 Speaker 1: Yes, that reputational issue and I have talked about before, 21 00:00:56,600 --> 00:00:58,800 Speaker 1: how bad is it? How much work is required to 22 00:00:58,840 --> 00:01:01,080 Speaker 1: convince people we are back? Can and back in properly. 23 00:01:02,240 --> 00:01:04,600 Speaker 2: Almost importantly, we're going to have to work with the 24 00:01:04,600 --> 00:01:06,840 Speaker 2: industry and work out what role the crowd can have 25 00:01:07,400 --> 00:01:10,000 Speaker 2: to establish long term contracts. No one is going to 26 00:01:10,000 --> 00:01:12,600 Speaker 2: make a long term capital commitment to New Zealand in 27 00:01:12,640 --> 00:01:16,840 Speaker 2: the face of short term arrangements in terms of boosting 28 00:01:16,959 --> 00:01:22,160 Speaker 2: energy through gas. I'm not really wanting to reprise contracts 29 00:01:22,160 --> 00:01:25,319 Speaker 2: from the past, but I've been told by major users 30 00:01:25,319 --> 00:01:30,720 Speaker 2: of gas we faced the industrialization, and potential investors are 31 00:01:30,800 --> 00:01:34,399 Speaker 2: quite frankly concerned that there will not be the level 32 00:01:34,440 --> 00:01:37,080 Speaker 2: of confidence or security going forward. So that's why I'm 33 00:01:37,080 --> 00:01:38,880 Speaker 2: came on very long term contracts. 34 00:01:38,920 --> 00:01:41,400 Speaker 1: You referred to Megan Woods, did you were you really 35 00:01:41,480 --> 00:01:44,320 Speaker 1: taken unawares back in eighteen Did that really come out 36 00:01:44,319 --> 00:01:45,880 Speaker 1: of the blue or did you know it was coming in? 37 00:01:45,920 --> 00:01:47,119 Speaker 1: If it was, did you fight it. 38 00:01:48,520 --> 00:01:51,200 Speaker 2: Now? Look, when I was on the stage with the 39 00:01:51,240 --> 00:01:56,720 Speaker 2: Kabuki Faces, I genuinely and I don't think, as I recall, 40 00:01:57,160 --> 00:01:59,440 Speaker 2: New Zealand First had a lot to do with that decision, 41 00:01:59,480 --> 00:02:02,000 Speaker 2: but it was sprung on us. It was a level 42 00:02:02,840 --> 00:02:06,920 Speaker 2: of extraordinary naivety. It's now history worst decision I've ever 43 00:02:06,960 --> 00:02:09,200 Speaker 2: been involved in terms of being apollot well, one of 44 00:02:09,200 --> 00:02:11,560 Speaker 2: the worst decisions of being involved in as a politician. 45 00:02:12,080 --> 00:02:15,080 Speaker 1: No, over the weekend, those protests and it's related, but 46 00:02:15,160 --> 00:02:17,520 Speaker 1: not you know, it's fast track. It's your power, it's 47 00:02:17,560 --> 00:02:20,079 Speaker 1: your ability to make decisions along with the two other ministers, 48 00:02:20,080 --> 00:02:22,320 Speaker 1: of which oil and gas is part of the overall equation. 49 00:02:22,960 --> 00:02:25,880 Speaker 1: What don't they get about the fact on a cold 50 00:02:25,919 --> 00:02:28,359 Speaker 1: winter's morning, we don't have enough power that whereas still 51 00:02:28,400 --> 00:02:31,000 Speaker 1: important coal for God's sake, and the gap between what 52 00:02:31,080 --> 00:02:33,320 Speaker 1: we want to do in renewables is simply too large. 53 00:02:33,400 --> 00:02:36,200 Speaker 1: Why don't they understand that, Oh. 54 00:02:36,120 --> 00:02:40,400 Speaker 2: They've been fed a diet of lotus eating ideology. They 55 00:02:40,480 --> 00:02:43,360 Speaker 2: refuse to accept that if you want to transition in 56 00:02:43,400 --> 00:02:45,920 Speaker 2: New Zealand, someone's going to pay for it. Look, you 57 00:02:46,040 --> 00:02:50,840 Speaker 2: just can't. You can't out of the blue conjure up 58 00:02:51,000 --> 00:02:54,040 Speaker 2: a new economic future just because you have a march 59 00:02:54,120 --> 00:02:57,680 Speaker 2: and leave all your rubbish in the local trash head 60 00:02:58,120 --> 00:03:00,799 Speaker 2: and then go home and feel that you've enjoyed some 61 00:03:00,840 --> 00:03:07,120 Speaker 2: sort of existential high. I deliberately chose to release the 62 00:03:07,160 --> 00:03:10,200 Speaker 2: decision pertaining to oil and gas. So there's a contrast 63 00:03:10,200 --> 00:03:14,040 Speaker 2: for keys. You either take the lotus eater green approach. 64 00:03:14,240 --> 00:03:16,960 Speaker 2: Who are people who want to tranquilize the economy or 65 00:03:17,000 --> 00:03:19,920 Speaker 2: you stand with us we're going to turbo charge the economy. 66 00:03:19,960 --> 00:03:21,280 Speaker 2: You've got a clear choice, all. 67 00:03:21,200 --> 00:03:24,520 Speaker 1: Right, Appreciate you time. Shane Jones, our Minister of Resources. 68 00:03:24,520 --> 00:03:27,440 Speaker 1: For more from the mic Asking Breakfast, listen live to 69 00:03:27,560 --> 00:03:30,639 Speaker 1: news talks. It'd be from six am weekdays, or follow 70 00:03:30,680 --> 00:03:32,239 Speaker 1: the podcast on iHeartRadio.