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Speaker 1: My favorite bit of you can apply that phrase to

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Speaker 1: a budget is there's two hundred million dollars in due

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Speaker 1: exploration for gas. It's basically a skin in the game fund.

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Speaker 1: It sends a message to the industry the government is

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Speaker 1: serious about getting back into this business. The energy resources

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Speaker 1: out here are Chief Executive John Carnegie's back with us,

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Speaker 1: John morning.

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Speaker 2: Yeah, good morning. Mind.

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Speaker 1: This is reputational for the country and the government does

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Speaker 1: it work well?

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Speaker 2: Look, we think it will. I mean it's important to

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Speaker 2: put it under perspective, of course, because over the last

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Speaker 2: seven years all of the policy signals for the sector

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Speaker 2: have been unremittingly negative. So this and the changes the

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Speaker 2: government's now looking to make in the bill which is

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Speaker 2: in Parliament at the moment, will tilt the economic signals

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Speaker 2: back towards neutral and in doing so tilt investment confidence

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Speaker 2: back towards investing. So is it a positive signal yet?

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Speaker 2: Absolutely not a.

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Speaker 1: Ten or fifteen percent? Is it enough? I mean, if

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Speaker 1: I'm coming to the country and I've got the government

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Speaker 1: coming in at that level, am I thinking good on them?

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Speaker 1: Or am I still taking a very big risk?

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Speaker 2: Oh? Look, and it's important to put it into perspective.

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Speaker 2: It the number would set around about twenty percent of

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Speaker 2: the capital invested in the sector over the past few years,

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Speaker 2: so it's not insignificant. And these projects do require huge

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Speaker 2: amounts of capital, so even a little government participation can

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Speaker 2: help de risk and catalyze investment. And it's also I

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Speaker 2: think important to think about the upside because of course,

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Speaker 2: while it may be as much about signaling government's intent

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Speaker 2: to partner with the industry, it could also prove to

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Speaker 2: be incredibly lucrative for the ground, especially if it's successful

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Speaker 2: and you know, the industry starts paying more royalties, tax

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Speaker 2: and the wider economic benefits of such.

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Speaker 1: Things exactly flip side of that and the Greens will

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Speaker 1: be all over it. If you find nothing, though, and

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Speaker 1: that's government money down the drain.

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Speaker 2: Well, you know, I think as you will recognize that

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Speaker 2: finding our energy system lurching from crisis to crime that

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Speaker 2: we've been doing since twenty eighteen. So look, you know,

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Speaker 2: people can call it what they want. We call it

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Speaker 2: an investment and now economic an energy future.

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Speaker 1: Good all right, John, appreciate it. John Carnegie Energy Resources

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Speaker 1: with us this morning for more from the Mic Asking Breakfast,

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Speaker 1: listen live to news talks. It'd be from six am weekdays,

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