Alan Kohler

And we are The Money Cafe.

And James, you're in Perth.

Why are you there?

see just the scale of just one mine was it was quite eye-opening i flew over the pilbara um once i don't think in 1975 with lang hancock driving the plane was a small plane and he was like hancock was driving and uh he was showing me his you know whatever he had up there and

We were up high at one point and he says, have a look at this, and he dives down and did a massive dive.

Very good.

Okay, so Iran, what do we think –

They haven't got a deal yet.

Trump's been talking it up for a few days, and then he starts blowing up their ships in the Strait of Hormuz, and that's going to – I mean, Iran's got upset about that, so that's going to hold up a deal between the two, isn't it?

Yeah, that's right.

So, I mean, it's a really amazing situation and Trump does seem to be in a real pickle because Iran, he's managed to change the regime in Iran, as promised, but instead of the Ayatollah Khamenei, who was relatively moderate, he's got this revolutionary guard in charge and they're not moderate at all.

Yeah.

And they, as you say...

Understand the leverage I've got over the Strait of Hormuz, which in some ways, I mean, what they were trying to get was leverage through having a nuclear weapon because, you know, everyone who's got a bomb, you know, other countries are very careful about, which is why they want it.

Yeah.

But now they've got the leverage over the Strait of Hormuz, which is pretty strong leverage as well, and maybe that's enough.

Maybe they'll just give up the nuclear weapons because they've got leverage over the Strait of Hormuz.

Yeah.

And in the meantime, the Australian government is moving on having a domestic gas reservation policy, 20%.

Yeah.