Belief the oil and gas industry's emerged a winner in the Budget - at the expense of the climate

The Government's set aside 200 million dollars over four years for co-investment in new gas fields.

Resources Minister Shane Jones says this is critical for delivering energy for the next 20 years - as supply's already constrained.

Greenpeace's Gen Toop says this is a scorched earth budget delivered in the middle of a climate crisis - and we'd be better off investing in renewables.

She says the Government should be doubling down on action to cut emissions - but instead it's dumping more money into fossil fuel extraction.