Ian Verrender

You know, what was that, 30 years ago or more?

But our petroleum industry has changed from one of oil to one of gas.

And the petroleum resources rent tax that's in place at the moment is well suited to an oil producing country, not a gas producing country.

And so there was an attempt to modernise it just a couple of years ago, but it has not resulted in any more change.

income sort of flowing into Australia.

Now, there does seem to have been a change in attitude amongst the general population and maybe the extortionate prices that the gas exporters were charging through to here, which led to that inflation, you know, maybe that has worked against them.

But there doesn't seem to be, I think, the general appetite from ordinary Australians to prop up multinational corporations making huge amounts of money here.

And this is where it gets really complex.

And you want to make sure that you come up with a model that doesn't increase the price here.

So if you add, say, for argument's sake, 30% tax, you don't want to see a 30% price hike here as a result of that.

So formulating a model, which would probably be best done by taxing exports over a certain price, but then you don't want to impact the price for your customers either.

Very interesting timing because, you know, here we are,

Are we in the midst of this AI revolution?

Probably not yet.

We're at the very start of it all.

All of the big tech companies have invested huge amounts of money in artificial intelligence.

It's a very crucial time right now for them to try to turn the amount of money that they've invested into some kind of returns.

Now, Apple has not gone down the same path as a lot of the others.

Well, they haven't invested in AI infrastructure.

They haven't invested in data centers and the like.