Friday, 18 March 2011, 11:48 am Press Release: Green Party
Petrol prices are nearing record highs, and Kiwi
households and business are starting to feel the pinch.
Because our economy and transport sector is so reliant on
oil, there are massive negative impacts every time the price
spikes – in fact one analysis suggests that we go into a
recession every time petrol goes over $1.80 a litre. We can
expect on-going price spikes in the future, as the world’s
reserves of cheap oil are dwindling and political
instability in oil producing nations threatens supply on the
world market.
In this week’s podcast, Green MPs Gareth
Hughes and Kevin Hague about the significance of high oil
prices to New Zealand, including lessons from the oil shocks
of the 70s, and how Finance Minister Bill English thinks
it’s a virtue not to have a plan to reduce our
vulnerability to high oil prices.
You can listen or
download the podcast here:
http://www.greens.org.nz/audio/pain-pump
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