MBIE said oil and gas exploration ban will increase greenhouse gas emissions

Stuff reports:

One document on the existing rights of exploration permits shows that officials at the Ministry of Business, Innovation and Employment (MBIE) warned the move would “run counter to a number of important public policy objectives”, official James Stevenson-Wallace wrote.

The decision would have a “negligible impact in reducing domestic greenhouse gas emissions but a likely increase in global greenhouse emissions”.

Stevenson-Wallace said this could come as a result of methanol which is currently produced from gas in New Zealand being replaced by methanol produced from coal in China.

So really this decision wasn’t about the environment. In fact it is bad for the environment. It was about allowing the PM to virtue signal internationally.

8,000+ jobs will cease to exist, and greenhouse gas emissions will increase. A double whammy.

MBIE also warned that the move was likely to lead to higher gas prices and reduce security of supply “at a time when New Zealand has its lowest reserve to production ratio since…2003”.

That’s okay. We’ll just import more from China!