Latest / Early Edition with Ryan Bridge / Terry Collins: AA Fuel Spokesperson weighs in on rationing fuel as oil prices spike

Transcript

Terry Collins: AA Fuel Spokesperson weighs in on rationing fuel as oil prices spike · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: Another Minister's Oil Group meeting in Wellington this morning. Petrol
• 0:03
  Speaker 1: up over three bucks a lead for some Brent crewed
• 0:05
  Speaker 1: up again overnight. Goldman Sachs, we've been following their forecast
• 0:08
  Speaker 1: that well, they've put another one out and the one
• 0:10
  Speaker 1: hundred and fifty dollars a barrel worst case scenario is
• 0:13
  Speaker 1: still a live option, though you'd have to have a
• 0:16
  Speaker 1: lot more disruption and ongoing. Terry Collins, AA fuel spokesperson
• 0:20
  Speaker 1: with us this morning. Morning, Terry every Roe. So the
• 0:24
  Speaker 1: Carlos days thing, we're are long, long long way off,
• 0:26
  Speaker 1: that aren't.
• 0:27
  Speaker 2: We we are. It's actually a good idea, it's a plan.
• 0:32
  Speaker 2: We've got a couple of things. That was Patrol and
• 0:34
  Speaker 2: Demand Restraint Act which allowed Carlstay's rationing books. It's very
• 0:39
  Speaker 2: old fashioned, but remember those days. We have things like
• 0:42
  Speaker 2: working from home and all the top of it that
• 0:44
  Speaker 2: we do today that makes us no productivity in other ways.
• 0:47
  Speaker 2: But we've also had a new Zealand Fuel Security Plan
• 0:50
  Speaker 2: which was updated last year. These are things that they
• 0:53
  Speaker 2: kept in the back pocket should something like this happen.
• 0:55
  Speaker 2: They've dusted off, they looked at and it's a plan
• 0:58
  Speaker 2: ready to go. We never has to be implemented. But
• 1:01
  Speaker 2: at least we've got a plan and we've got legislation that,
• 1:04
  Speaker 2: if needed, we can implement it.
• 1:05
  Speaker 1: Cherry, we've got a month on the land and a
• 1:08
  Speaker 1: month on the water and supply beyond that. Is a
• 1:12
  Speaker 1: supply actually being affected or are we still expecting that
• 1:16
  Speaker 1: we will have a flow coming in?
• 1:19
  Speaker 2: Look South Korea to talk about looking after the selves first,
• 1:24
  Speaker 2: Basically they use that eighty five percent of the product.
• 1:27
  Speaker 2: They were fine if there's a big reduction, so twenty percent. Globally,
• 1:31
  Speaker 2: they're basically saying we come first. We're a large economic country.
• 1:35
  Speaker 2: We need this world to continue our commerce. Unfortunately, we
• 1:39
  Speaker 2: get about forty eight percent of our foreign products from
• 1:41
  Speaker 2: South Korea, so we would need to look for different markets.
• 1:45
  Speaker 1: Would which markets? And also a.
• 1:48
  Speaker 2: Sip or Brunei, Malaysia, Indonesia we get a tiny bit
• 1:53
  Speaker 2: out of place like Indi in the US. But basically
• 1:55
  Speaker 2: we'll be in the same scramble as many other countries.
• 1:57
  Speaker 1: Could we be in the situation where our for your
• 1:59
  Speaker 1: company look at the price and go, I'm going to
• 2:01
  Speaker 1: sell it to someone else.
• 2:03
  Speaker 2: No, no, how for your companies are looking after ourselves.
• 2:06
  Speaker 2: We're just trading in a global environment.
• 2:10
  Speaker 1: Very good, Terry. Oh, by the way, the price today
• 2:13
  Speaker 1: and the price that's happened overnight, and that Goldman Sacks
• 2:17
  Speaker 1: update on the forecast, any any more thoughts on where
• 2:20
  Speaker 1: it might go?
• 2:22
  Speaker 2: This is so unpredictable. I've seen changes in available thirty
• 2:27
  Speaker 2: dollars over twenty four hours. I had an interview with
• 2:29
  Speaker 2: a journalist, a fifteen minute interview, and it changed fifteen dollars.
• 2:32
  Speaker 2: So how you can predict or will lend? Who knows?
• 2:36
  Speaker 2: I do know, though. One thing history has taught me
• 2:39
  Speaker 2: is America tends to underestimate how long they stay in conflicts.
• 2:42
  Speaker 2: So I'm very concerned when they talk about weeks when
• 2:45
  Speaker 2: it looks like it could be months.
• 2:47
  Speaker 1: Cherry all that in two minutes twenty seven from You
• 2:50
  Speaker 1: Appreciate It fifteen minutes, Who does those anymore? For more
• 2:54
  Speaker 1: from Early Edition with Ryan Bridge, listen live to News Talks.
• 2:58
  Speaker 1: It'd be from five am weekday, or follow the podcast
• 3:01
  Speaker 1: on iHeartRadio.