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15/6/2018 — Oil and Gas
NZIER to look at oil ban decision

The New Zealand Institute of Economic Research (NZIER) has been commissioned to look at impacts of the Coalition Government’s decision to ban new offshore oil and gas permits.

NZIER has been asked to look at the economic and environmental impacts of an end to offshore exploration for oil and gas by the Petroleum Exploration and Production Association of NZ (PEPANZ).

The petroleum body’s chief executive Cameron Madgwick said: “This is an unusual step for us, but we’re concerned there hasn’t been robust analysis of the decision and the consequences it will have.”

“We are very concerned at the potential impacts of the decision on jobs, incomes, households and businesses. The research will look at this and the impacts on Government royalties, exports, and industries that rely heavily on energy, as well as the regional impacts for areas like Taranaki.

“It will be robust and independent, looking at different scenarios out to 2040. It will also look at the impact on New Zealand’s net carbon emissions.

“Ideally the Government would have done this work before making such a decision. As an industry we share their goals of lowering emissions and sustainably growing the economy, but an end to exploration doesn’t seem the right way to achieve this.”

PEPANZ said this research is expected to be completed in late August.

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