Latest / Best of Business / Heather du Plessis-Allan: Our gas is running out faster than we ever thought it would

Transcript

Heather du Plessis-Allan: Our gas is running out faster than we ever thought it would · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News Talks'd be follow
• 0:12
  Speaker 1: this and our wide range of podcasts now on iHeartRadio.
• 0:16
  Speaker 2: Just go back to the oil and gas stuff that
• 0:18
  Speaker 2: we're talking about at the start of the show. I'm
• 0:20
  Speaker 2: starting to get a little nervous about whether we're ever
• 0:22
  Speaker 2: really going to be able to attract overseas investors back
• 0:25
  Speaker 2: into our oil and gas industry when you think about it, right,
• 0:28
  Speaker 2: the world has known since October last year that New
• 0:31
  Speaker 2: Zealand was back open for business, because that is when
• 0:34
  Speaker 2: the coalition government won the election, and the coalition government
• 0:36
  Speaker 2: had made it very clear that when they got in
• 0:38
  Speaker 2: I think all three of the parties had made it
• 0:40
  Speaker 2: clear that they would reverse the oil and gas ban.
• 0:42
  Speaker 2: So since October the world new right. Things are going
• 0:44
  Speaker 2: to change in New Zealand. But from what I can tell,
• 0:48
  Speaker 2: no one from overseas is interested in coming to New
• 0:51
  Speaker 2: Zealand to do the work. And frankly, if no one's
• 0:54
  Speaker 2: registered an interest in nine months, I think we might
• 0:56
  Speaker 2: need to start getting realistic about this. It's probably over.
• 0:59
  Speaker 2: That ship has sailed. You can sort of tell also
• 1:01
  Speaker 2: by the language that Shane Jones is using that he
• 1:03
  Speaker 2: might know this too, because he's talking about all of
• 1:05
  Speaker 2: these efforts that he's making to try to make it
• 1:07
  Speaker 2: more appealing for him to come back. It's talked about bonds,
• 1:10
  Speaker 2: now he's talking about trying to give them really, really
• 1:12
  Speaker 2: long contracts. It's almost desperate stuff, because I think that
• 1:15
  Speaker 2: he can already see after nine months, no one's nibbling.
• 1:18
  Speaker 2: And why would they nibble. I mean, Labor has already
• 1:20
  Speaker 2: now on multiple occasions, raised the prospect that they are
• 1:24
  Speaker 2: open to when they get back in nixing the projects
• 1:26
  Speaker 2: all over again. Now, investors around the world are going
• 1:29
  Speaker 2: to read that right. They're going to read that on
• 1:30
  Speaker 2: one hand, the current government is reversing the oil and
• 1:32
  Speaker 2: gas band, but on the other hand, the next government
• 1:34
  Speaker 2: is going to just put it back in place again.
• 1:36
  Speaker 2: Who wants to put billions of dollars of investment in
• 1:38
  Speaker 2: and then have Rachel Brooking from Labor or Michael Woods
• 1:41
  Speaker 2: from Megan Woods from Labor coming and ban your business
• 1:44
  Speaker 2: all over again. I mean, what that means for us,
• 1:47
  Speaker 2: Like you know, in the real world, let's think about that.
• 1:49
  Speaker 2: What that means for us is that short of a
• 1:51
  Speaker 2: miracle and short of some overseas investor taking a punt
• 1:54
  Speaker 2: on us. We are probably going to have to make
• 1:56
  Speaker 2: do with what we've got now. That is not a
• 1:58
  Speaker 2: good prospect because our gas is running out faster than
• 2:02
  Speaker 2: we thought it would. We are facing lights out this
• 2:05
  Speaker 2: winter because of a gas short. We have been warned that.
• 2:09
  Speaker 2: It seems to me, and I'm sorry to say this
• 2:11
  Speaker 2: because it's not great for the environment, but it seems
• 2:13
  Speaker 2: to me Huntley is going to be a very busy
• 2:14
  Speaker 2: girl burning all of that coal for a very long time.
• 2:18
  Speaker 1: For more from News Talks at b listen live on
• 2:20
  Speaker 1: air or online, and keep our shows with you wherever
• 2:23
  Speaker 1: you go with our podcasts on iHeartRadio