Elton John and Bernie Taupin have been nominated for their first joint Oscar for "(I'm Gonna) Love Me Again" -- the theme to last year's Rocketman biopic which is sung with Elton's silver screen counterpart, Taron Egerton. Taupin shed light on the songwriting process behind the song and admitted he was surprised that Elton took the lyric and made it a vibrant Motown-like pop rocker.

Taupin, who began writing with Elton back in 1967, told The Los Angeles Times, "When I was approached about doing a song for the (end) credits of the film, it was obvious that the song had to have a redemptive quality to it. I, probably not in my best judgment, imagined a slower, waltz-like, reflective melody, sort of like Tom Waits' 'Hold On.'"

He went on to say, "I can't remember if I said to Elton, in my notes, how I envisaged the lyric to be treated, but when he sent me the demo, I was perplexed, because he'd gone in a totally different direction. Then I heard the finished version and I got it. If we'd gone in the direction I'd imagined, it might have fallen flat. So in the long run, everybody made the right decisions, except me (laughs)."
Taupin spoke about how things have changed -- and also stayed the same -- for him and Elton over the past 50-plus years: "You have to remember, we were so young when we started out -- I was 17-years-old -- and we were joined at the hip. Everything we did, we did together. When we started writing together, we were sharing a room at his mother's apartment in Northwood Hills. But then there's a thing called growing up. You still maintain that solidarity but you have to create your own individual lives, which we did."

He added: "I'm always there when we record, to help tinker with songs, if there's a hiccup in it. I've been in the studio during pretty much every album we've made."

As far as whether he'll be making a final curtain call with Elton on the closing night of his massive "Farewell Yellow Brick Road" tour, Taupin said, "If he wants me to, I will, but it's not on my bucket list. I've had plenty of the spotlight on me -- much more than somebody of my nature probably would have. I've always been an outsider. I've always been outside of the velvet rope."

Despite all the honors and accolades the songwriting team has racked up over the years, Bernie Taupin is amazed that there are so few cover versions of their classic songs: "We haven't had that many covers y'know, to be quite honest, which is rather extraordinary. You would think in our career we would've had more covers. I like George's (Michael) version of 'Don't Let The Sun Go Down On Me,' the one he did with Elton was good."

Elton John performs tonight (January 31st) in Yarra Valley, Australia.

The 92nd Academy Awards will take place on Sunday, February 9th and air live on ABC at 8 pm ET.

AUDIO: BERNIE TAUPIN ON COVERS