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Speaker 1: Shane Jones is keen to farm native octopus at twenty

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Speaker 1: one after five there's money to be made. He reckons

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Speaker 1: animal right activist groups unsurprisingly matters how at Auckland University

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Speaker 1: for doing a million dollar tax payer funded study into

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Speaker 1: the farming of native octopus. The Oceans and Fisheries Minister

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Speaker 1: with me this morning. Shane, Good morning, thanks, good to

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Speaker 1: have you on the phone. Now, can I just before

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Speaker 1: we get to the octopus, where's your oil and Gas

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Speaker 1: band reversal bill?

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Speaker 2: At as soon as we pass the various bits of

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Speaker 2: legislation pertaining to the budget, it's next up. It's all drafted.

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Speaker 1: Okay.

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Speaker 2: There was a bit of a There were a few

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Speaker 2: things I had to correct because there was a debate

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Speaker 2: with the industry and myself over who and how should

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Speaker 2: the burden of paying for the tidy up after an

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Speaker 2: oil and gas enterprise finishes.

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Speaker 1: Up the decommissioner.

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Speaker 2: Yeah, got through that sensible place.

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Speaker 1: Okay. Interesting, So you've got you've done your deals, you've

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Speaker 1: got the bill ready to go, and it'll happen after

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Speaker 1: the budget because it was meant to happen by the

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Speaker 1: end of last year. Right, So you finally got it

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Speaker 1: across the line.

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Speaker 2: That's good tonight, ye, yeah, Well, basically what happened is

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Speaker 2: the guys from the industry felt that we had taken

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Speaker 2: an approach which actually disincentivized them spending more money. I

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Speaker 2: took an approach to protect the revenue base of the country,

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Speaker 2: worked it through with one of two of the key

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Speaker 2: senior ministers and look it's drafted and ready to go.

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Speaker 1: What have you done to allay their fears?

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Speaker 2: Well, we need to ensure that when decommissioning takes place

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Speaker 2: that it's done not at the level of the taj Mahal,

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Speaker 2: but it's comparable with international best practice. But at the

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Speaker 2: same time, if it comes to pass that some of

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Speaker 2: the infrastructure has to stay in place, providing that we're

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Speaker 2: closed off the possibility of spillage of any residual oil

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Speaker 2: and whatnot. And without sounding too track, common sense rule

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Speaker 2: the roost.

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Speaker 1: So what you could leave some platforms out there?

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Speaker 2: No, no, no no. In other countries around the world,

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Speaker 2: obviously the platforms disappear. Other countries are exploring were not

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Speaker 2: those cavernous areas under the seabed, if they're large enough,

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Speaker 2: whether that can be used in terms of climate change

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Speaker 2: areas carbon and stuff like that.

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Speaker 1: But give us and give us a sense, what would

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Speaker 1: you let stay on the seabed.

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Speaker 2: Oh look, when we spent the three or four hundred million,

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Speaker 2: I can't exactly. There's a crowd called tamar and they're

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Speaker 2: the ones who created the problem three or four years ago.

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Speaker 2: The Crown ended up absorbing the costs because they fled

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Speaker 2: like Butter and Kenny Hopson, and we took an approach

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Speaker 2: at every single thing had to be taken from the

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Speaker 2: bed of the sea, the foundations, any residual pipework, and

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Speaker 2: we've left an opportunity for a future minister and the

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Speaker 2: owners of the assets to meet a high threshold. At

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Speaker 2: the same time we can make a judgment.

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Speaker 1: So you could leave at the point which you could

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Speaker 1: leave the foundations and the pipes in the ground.

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Speaker 2: Well that's what they do in other parts. All right.

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Speaker 1: Well, you know what the Greenies will say about that.

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Speaker 1: They won't be happy, Shane.

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Speaker 2: Yeah, I do tend to trigger them. But the fact

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Speaker 2: of the matter is if we are unable to continually

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Speaker 2: rather generate an economic saiplus in New Zealand, we're not

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Speaker 2: going to be able to afford the costs of their rhetoric. Anyway,

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Speaker 2: I'm taking them on next week. They're having a protest

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Speaker 2: down And what.

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Speaker 1: About the lowering of the royalties to incentivize foreign companies,

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Speaker 1: foreign investors? You rule that out.

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Speaker 2: No, what i'd say is just pay attention during the

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Speaker 2: core of the day, That's what i'd say.

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Speaker 1: So, come on, Shane, look at five twenty five in

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Speaker 1: the morning. No one's letten let me know.

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Speaker 2: Hey, hey buddy, don't deprecate yourself.

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Speaker 1: No, I'm just kidding. So, but but seriously, that is

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Speaker 1: that is an active issue, potentially lowering royalties.

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Speaker 2: Well, now, what i'd say is that what's active is

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Speaker 2: that if we're four half, we're not happy about using

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Speaker 2: mountains of coal, then we've got to do things that

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Speaker 2: stir a greater level of interest and boost the risk

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Speaker 2: taking appetite for the gas industry. And just let's just

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Speaker 2: tie hoduring the course of the day.

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Speaker 1: Okay, I haven't asked you about octopus. Does it taste nice?

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Speaker 2: Yeah, it's called Thaki Mutuo. Dungy was an octopus pursuer.

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Speaker 2: But look what what I was really hoping to check

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Speaker 2: to you about. No, sorry, yeah, well you're right, it

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Speaker 2: is nice. I had an auntie who used to sort

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Speaker 2: of I know if you go up the island and

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Speaker 2: I had an auntie. When you've got it, you've belted

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Speaker 2: it and then you sort of softened it up.

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Speaker 1: But all right, hey, minister, I've just been told that

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Speaker 1: I've actually spoken to you for far too long, so

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Speaker 1: we have to leave it there, I'm afraid, but I

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Speaker 1: do appreciate you coming on the program, Shane Jones, the

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Speaker 1: Ocean in Fisheries Minister. For more from Early Edition with

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Speaker 1: Ryan Bridge, Listen live to news Talks.

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Speaker 2: It'd be from five am weekdays, or follow the podcast

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Speaker 2: on iHeartRadio