Appalling oil and gas decision will cost billions

Official advice released today confirms the Government’s arrogant decision to axe offshore oil and gas exploration will cost billions of dollars and lead to an increase in greenhouse gas emissions, National’s Energy and Resources spokesperson Jonathan Young says,

“The advice released today shows just how arrogant and reckless the decision was, and all so the Prime Minister could go offshore and brag about being a leader in the fight against climate change.

“Instead the ban – implemented against official advice - will cost New Zealand tens of billions of dollars, and that’s before you take into account the loss of jobs and economic impact in Taranaki communities in particular.

“MBIE also believes that the decision may increase the price of gas and electricity and that the change may actually increase global greenhouse gas emissions, as we just shift to importing gas from overseas.

“This is an appalling decision made with no consultation or investigation into the real impact it would have. Now we know even the Government’s own advisors say it’s going to cost New Zealand dearly and the Government is going to try and ram the legislation through to avoid the necessary scrutiny.

“The Government must own the mistake, admit to New Zealanders it got it badly wrong and reverse its decision.”

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