Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Overcoming oil addiction to ease interest rates

Overcoming oil addiction essential to easing interest rate pressures

Green Media Release 7th December 2006

Cheaper oil has given New Zealand a temporary interest rate reprieve but we need to invest in alternatives to our oil addiction if we want to futureproof our economy against future oil price rises and hence interest rates rises, says the Green Party.

“The decision by the Reserve Bank to hold interest rates steady is largely attributable to the drop in oil prices over the last few months, but they will not stay low in the long term,” says Russel Norman, Green Co-Leader.

“Our addiction to imported oil results a permanent inflationary risk to the New Zealand economy, and a permanent risk to blowing out our record trade deficit and current account deficit,” according to Dr.Norman, also the Greens’ Economics Spokesperson.

“In the long term oil prices can only increase and hence we need to make investments now to reduce our oil dependence in the future.

“Our woeful public transport leaves people dependent on oil-driven private cars. We need to invest massively and rapidly in decent, affordable, reliable, clean, regular public transport so that people have a real alternative to taking the car.

“Electrifying and extending the Auckland rail system is a particularly urgent public transport infrastructure investment.

“We also need investments in alternatives to road freight such as rail freight and coastal shipping.

“Sweden has committed to going oil free by 2020 so why can’t we?

“To put downward pressure on interest rates, greenhouse emissions, the trade deficit, and the current account deficit we should be breaking our oil addiction as fast as possible.”


ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Principals' Federation:
End Of National Standards

Today the Minister of Education announced that the Government has stopped the controversial National Standards system of assessment and declared them an arbitrary measure which did not raise children's achievement as the previous Government intended.

"This is such a win for all the principals who never believed in national standards and who, for the past decade, have argued for what is morally right for our nation's young people and their learning," said Cormick. More>>

 

Public Good: People’s Report On Public Broadcasting And Media Presented

The People’s Commission on Public Broadcasting and Media, was crowdfunded and was informed by an extensive consultation, seeking the views of both those working in Media as well as gathering input both online and in person from ordinary Citizens. More>>

ALSO:

RBNZ To RNZB: PM's Press Conference

Prime Minister Jacinda Adern was joined by Minister of Finance Grant Robertson and Minister for Children Tracey Martin to announce the appointment of Adrian Orr as the new Governor of the Reserve Bank and the name change of the Ministry for Vulnerable Children to ‘Oranga Tamariki - Ministry for Children’. More>>

ALSO:

'Taming Globalised Capital': Why Is Labour Supporting Investment Rules In WTO?

‘Today, we learned the new government has added New Zealand’s name to a proposal designed to lead to foreign investment rules in the WTO at this week’s ministerial meeting in Argentina,’ said Auckland University Professor Jane Kelsey. More>>

ALSO:

Gordon Campbell: On The Politics Of Scaring Voters Back Into Line

Fear has always been a useful mobilising tool in politics… yet in 2017, bogeymen of all shapes and sizes seem to have fallen on hard times. For years, the National party had painted itself as being the only reliable defensive bastion against the terrifying prospect of a centre-left government… More>>

ALSO:

Gordon Campbell: On Drinking Water As A Failure Of Political Leadership

It is almost possible to feel sorry for the Health Ministry in their terrible, no good, very bad week... More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages