The decision to ban future oil and gas exploration was made without a cost benefit analysis to back it up, Newshub can reveal.
This is pretty damning. They didn’t have any advice from officials on the costs and benefits of their decision. They just make a decision to kill off an entire industry based on their own ideologies.
The Energy Minister has also admitted no formal consultation with the Petroleum Exploration and Production Association of New Zealand (PEPANZ) took place.
Yep this kind caring listening Government didn’t even consult with the industry before deciding to wipe them out.
There’s also been no estimates on whether global greenhouse gas emissions will fall as a result of the decision.
So in summary we have no economic impact analysis, no environmental impact analysis and no consultation. Disgusting.
Advice or estimates on increases or decreases to gas prices are also missing from the background work on the policy.
“No specific estimate has been provided to me on the price impact on gas of the decision to grant no further offshore oil and gas exploration permits. Officials have advised that gas prices have risen in the past when the supply of gas has been constrained,” Dr Woods said.
And no advice on the cost of heating homes going up.