1 00:00:00,360 --> 00:00:02,400 Speaker 1: Now, look, I don't think there's any reason to panic, 2 00:00:02,480 --> 00:00:04,800 Speaker 1: but if you read the news closely, and if you 3 00:00:04,840 --> 00:00:07,280 Speaker 1: read more widely than just the local New Zealand news, 4 00:00:07,280 --> 00:00:09,280 Speaker 1: you're probably starting to get a little nervous. I would 5 00:00:09,280 --> 00:00:11,720 Speaker 1: say about what might happen to fuel here and the 6 00:00:11,760 --> 00:00:14,640 Speaker 1: possibility that we may have to start rationing. The Strait 7 00:00:14,640 --> 00:00:17,880 Speaker 1: of Humus is still effectively shut. The Iranians have attacked 8 00:00:17,880 --> 00:00:20,959 Speaker 1: thirteen tankers. Now. The boss of the Saudi backed oil 9 00:00:21,000 --> 00:00:23,320 Speaker 1: company has warned this could be catastrophic for the world's 10 00:00:23,320 --> 00:00:26,800 Speaker 1: economy if that strait isn't opened relatively soon. South Korea 11 00:00:26,840 --> 00:00:29,920 Speaker 1: has floated the possibility of banning exports of fuel. That's 12 00:00:29,960 --> 00:00:32,040 Speaker 1: a problem for us. It's where we get roughly half 13 00:00:32,080 --> 00:00:36,200 Speaker 1: of our fuel. Parts of Western Australia, rural Western Australia 14 00:00:36,240 --> 00:00:39,239 Speaker 1: have now run out of diesel because the Tawnies are 15 00:00:39,280 --> 00:00:43,200 Speaker 1: buying so much are panicking. We have around about fifty 16 00:00:43,280 --> 00:00:45,880 Speaker 1: days worth of fuel in this country. Half of that, though, 17 00:00:46,000 --> 00:00:49,640 Speaker 1: is on the water and ships can and have been diverted, 18 00:00:49,880 --> 00:00:51,720 Speaker 1: so you can only lock in about half of what 19 00:00:51,720 --> 00:00:54,639 Speaker 1: we've got. The Minister is now taking advice on how 20 00:00:54,640 --> 00:00:57,160 Speaker 1: to manage our demand as and get us to use 21 00:00:57,240 --> 00:00:59,840 Speaker 1: less and one of the ideas he's considering and taking 22 00:01:00,040 --> 00:01:03,560 Speaker 1: advice on, as Carlos Days. There are now normally very 23 00:01:03,640 --> 00:01:06,080 Speaker 1: level headed people who are warning us to at least 24 00:01:06,120 --> 00:01:09,360 Speaker 1: start mentally preparing for the possibility that we may have 25 00:01:09,440 --> 00:01:14,000 Speaker 1: to ration what fuel we use here. Now, rationing sounds bad. 26 00:01:14,040 --> 00:01:16,120 Speaker 1: It sounds like something from World War Two. It might 27 00:01:16,160 --> 00:01:18,520 Speaker 1: not be that bad. It may not be Carlos Days 28 00:01:18,520 --> 00:01:21,520 Speaker 1: all over again. That does feel like a significant escalation 29 00:01:21,600 --> 00:01:25,160 Speaker 1: of the situation. This thing might blow over tomorrow. In fact, 30 00:01:25,160 --> 00:01:27,399 Speaker 1: Donald Trump is likely to call the attacks off the 31 00:01:27,440 --> 00:01:30,800 Speaker 1: minute that it starts to have really significantly negative impacts 32 00:01:30,800 --> 00:01:34,479 Speaker 1: on the oil supply and world economies. Are world economics 33 00:01:34,520 --> 00:01:38,600 Speaker 1: because he is so fixated on global markets and making money. 34 00:01:38,760 --> 00:01:41,000 Speaker 1: The minute that he cannot talk markets back into a 35 00:01:41,040 --> 00:01:42,919 Speaker 1: good place is the minute that I think he starts 36 00:01:42,920 --> 00:01:46,400 Speaker 1: to call it off. But the thing is, it's already 37 00:01:46,400 --> 00:01:49,360 Speaker 1: having an impact, isn't it. It will already be wiping 38 00:01:49,400 --> 00:01:52,360 Speaker 1: money off our GDP. The longer it goes on, the 39 00:01:52,400 --> 00:01:55,200 Speaker 1: more it takes out of GDP. Now I'm thinking this 40 00:01:55,240 --> 00:01:57,160 Speaker 1: is not going to end up in the worst case 41 00:01:57,200 --> 00:01:59,720 Speaker 1: scenario that the minister is preparing for I don't know 42 00:01:59,760 --> 00:02:02,720 Speaker 1: where that's my wishful or my rational brain, but as 43 00:02:02,760 --> 00:02:05,639 Speaker 1: they say, it's best to hope for the best, prepare 44 00:02:05,640 --> 00:02:09,480 Speaker 1: for the worst. For more from Heather Duplessy Allen Drive, 45 00:02:09,600 --> 00:02:13,040 Speaker 1: listen live to News Talks at B from four pm weekdays, 46 00:02:13,160 --> 00:02:15,360 Speaker 1: or follow the podcast on iHeartRadio.