1 00:00:00,080 --> 00:00:02,280 Speaker 1: So on the oil and gas debate, Labor's announced that 2 00:00:02,320 --> 00:00:04,280 Speaker 1: if and when they return to power, they will reimpose 3 00:00:04,320 --> 00:00:06,080 Speaker 1: the oil and gas band. So what sort of message 4 00:00:06,120 --> 00:00:08,160 Speaker 1: does that send a potential license operators. 5 00:00:08,240 --> 00:00:10,119 Speaker 2: We're opposed to the removal of the band on new 6 00:00:10,200 --> 00:00:14,120 Speaker 2: oil and Guess expiration off sure we would reinstate be again. 7 00:00:14,240 --> 00:00:16,720 Speaker 1: So the CEO of Echelon Resources formerly New Zealand Oil 8 00:00:16,720 --> 00:00:18,640 Speaker 1: and Guess, Andrew Jeffries is with us on that's Andrew 9 00:00:18,640 --> 00:00:22,360 Speaker 1: morning to you, Good morning Mike. Mixed messages and does 10 00:00:22,400 --> 00:00:24,239 Speaker 1: that hurt our reputation internationally? 11 00:00:26,200 --> 00:00:29,720 Speaker 2: Look, I think the obviously the message there from the 12 00:00:29,760 --> 00:00:34,760 Speaker 2: Labor Party wasn't particularly mixed. I think there. I think 13 00:00:34,800 --> 00:00:40,040 Speaker 2: it's an enormous shot in the foot for the country 14 00:00:40,479 --> 00:00:45,279 Speaker 2: because I think it will affect our international reputation. You 15 00:00:45,280 --> 00:00:49,000 Speaker 2: can't legislate the laws of physics, and if you're going 16 00:00:49,000 --> 00:00:53,640 Speaker 2: to have a mainly renewable power system, you really need 17 00:00:53,680 --> 00:00:57,720 Speaker 2: to have secure backup and gas can provide that backup. 18 00:00:59,120 --> 00:01:02,080 Speaker 2: So locally, gas can provide the backup for us, and 19 00:01:02,360 --> 00:01:06,960 Speaker 2: you know it can be our gas developed from our fields. 20 00:01:07,560 --> 00:01:10,400 Speaker 2: It doesn't affect our balance of payments in a negative 21 00:01:10,440 --> 00:01:17,080 Speaker 2: way provides jobs, it provides taxes, provides us with security. 22 00:01:17,400 --> 00:01:21,119 Speaker 2: So you know, in low cost cost energy, you can 23 00:01:21,160 --> 00:01:23,640 Speaker 2: import that energy from overseas, but then you're giving away 24 00:01:23,680 --> 00:01:25,840 Speaker 2: the jobs. We've got to find the money to pay 25 00:01:25,880 --> 00:01:30,080 Speaker 2: for the pay for the energy, and you're not raising 26 00:01:30,080 --> 00:01:33,880 Speaker 2: the taxes likely, so you're going to force down the 27 00:01:33,920 --> 00:01:35,440 Speaker 2: standard of living for the country. 28 00:01:35,800 --> 00:01:39,080 Speaker 1: I noticed a twang of Australian there, Andrew, how is 29 00:01:39,080 --> 00:01:41,320 Speaker 1: it if you can explain to me, the labor government 30 00:01:41,319 --> 00:01:44,319 Speaker 1: of Australia gets it. The labor government or labor opposition 31 00:01:44,360 --> 00:01:45,280 Speaker 1: to New Zealand does not. 32 00:01:47,040 --> 00:01:50,560 Speaker 2: Look I think I'm a engineered by background, Mike. So 33 00:01:51,280 --> 00:01:55,400 Speaker 2: I think this is going into the realms of psychology 34 00:01:55,520 --> 00:01:59,160 Speaker 2: rather than engineering, because look, the labor government in Australia 35 00:01:59,840 --> 00:02:04,680 Speaker 2: is representing it's it's the people who vote for it, 36 00:02:06,080 --> 00:02:12,480 Speaker 2: which are generally folks who want to have jobs, and 37 00:02:12,680 --> 00:02:15,880 Speaker 2: they are they and so they get it. Look, Australia 38 00:02:16,000 --> 00:02:20,200 Speaker 2: is six STIPs in coal. It definitely it needs a 39 00:02:20,240 --> 00:02:23,600 Speaker 2: transition and gas is the only means to do it. 40 00:02:23,680 --> 00:02:26,640 Speaker 2: So the world's largest battery, which is in Adelaide, looks 41 00:02:26,680 --> 00:02:30,040 Speaker 2: South Australia has done a great job of becoming renewable, 42 00:02:30,960 --> 00:02:35,040 Speaker 2: but it relies on electrons that are piped in from 43 00:02:35,080 --> 00:02:39,960 Speaker 2: other states from coal fire power stations to provide security. 44 00:02:40,240 --> 00:02:42,919 Speaker 2: And it's also got a very large battery. That very 45 00:02:43,000 --> 00:02:47,480 Speaker 2: large battery can hold Adelaide for about seven minutes, so 46 00:02:47,600 --> 00:02:50,080 Speaker 2: you know these are battery technology has not got to 47 00:02:50,120 --> 00:02:54,040 Speaker 2: the point where it can hold a grid for a 48 00:02:54,080 --> 00:02:55,120 Speaker 2: long period of time. 49 00:02:56,000 --> 00:02:59,520 Speaker 1: So here's here's the problem up up until the crisis 50 00:02:59,520 --> 00:03:01,800 Speaker 1: we're facing at the moment in this country. You can 51 00:03:01,880 --> 00:03:03,440 Speaker 1: run theory until you blue in the face, and the 52 00:03:03,520 --> 00:03:06,840 Speaker 1: Labor Party did. But when mills are closing and jobs 53 00:03:06,880 --> 00:03:11,000 Speaker 1: are being lost because we literally cannot afford power, the 54 00:03:11,080 --> 00:03:15,480 Speaker 1: system doesn't work. I mean, it's that simple, isn't it. 55 00:03:15,080 --> 00:03:20,000 Speaker 2: It really is that simple. You know, you need cheap 56 00:03:20,160 --> 00:03:24,800 Speaker 2: energy is at the root of our whole way of life. 57 00:03:26,280 --> 00:03:28,840 Speaker 2: There's just no way around it. We need that energy 58 00:03:29,080 --> 00:03:33,760 Speaker 2: for you know, for cooking, for cleaning, for running electric 59 00:03:33,800 --> 00:03:38,200 Speaker 2: motors and factories. And when you build a factory, you 60 00:03:38,240 --> 00:03:41,040 Speaker 2: not only need reasonably priced energy so that you can 61 00:03:41,120 --> 00:03:43,840 Speaker 2: run your electric motors, but you also need to know 62 00:03:43,920 --> 00:03:47,440 Speaker 2: that it's going to be there when you turn the 63 00:03:47,480 --> 00:03:52,920 Speaker 2: on switch, So you have to have that liability around 64 00:03:52,960 --> 00:03:55,880 Speaker 2: your basic energy supply, and there's just no way around it. 65 00:03:55,920 --> 00:03:58,720 Speaker 2: As I say, you can't legislate around the laws of physics. 66 00:03:58,880 --> 00:04:01,160 Speaker 1: Exactly. Good on Andrew, she had very much. Andrew Jeffries, 67 00:04:01,200 --> 00:04:04,400 Speaker 1: whos Echelon Resources CEO, with us this morning. For more 68 00:04:04,480 --> 00:04:07,560 Speaker 1: from the mic Asking Breakfast, listen live to News Talks 69 00:04:07,600 --> 00:04:10,760 Speaker 1: at B from six am weekdays, or follow the podcast 70 00:04:10,800 --> 00:04:11,640 Speaker 1: on iHeartRadio.