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Oil announcement benefits foreign owned companies

Oil announcement benefits Norwegian pensioners and foreign-owned companies

The Government is further putting our New Zealand beaches at risk of an oil spill by today awarding four new permits to mainly foreign-owned companies for deep sea oil exploration, the Green Party said today.

Block Offer 2013 petroleum exploration permits were awarded by the Government today. Three of the four petroleum permits for exploration in deep water were awarded to foreign-owned companies including one permit awarded to Statoil. Statoil is 67 percent owned by the Norwegian Government and whose profits form a pension fund.

“The Government is risking our environment and our economy to pay for Norwegians’ pensions,” said Green Party energy spokesperson Gareth Hughes.

“We have the fourth lowest royalty plus tax rate in the world, which means the big winners from this Block Offer will be foreign companies and Norwegian pensioners who will get the majority of the profits from Statoil.

“Today’s announcement doesn’t even make sense financially not to mention the significant risk to the environment and the climate.

“Another permit was granted today in the Deepwater Taranaki Basin where oil spill modelling done by Texan oil giant Anadarko shows a 50 percent chance of oil wash ashore if a well blow-out were to occur.

“New Zealanders know that deep sea drilling is not worth the risk.

“With deep sea drilling the Government is pursuing a failed economic agenda that runs totally counter to our real economic advantages and opportunities.

“Rather than climate polluting fossil fuels, we can be investing in clean energy which would create four times as many jobs.

“It’s incredibly short-sighted to allow foreign-owned companies to do risky drilling in an attempt to discover and produce even more fossil fuels.

“Scientists tell us that we can only burn 20 percent of the fossil fuels that companies have already discovered if we want to keep climate change to a safe two degree increase.

“New Zealand stands to lose a lot if the world cannot limit climate change to two degrees warming. Our agricultural nation depends on a stable climate. Our farmers will suffer increased droughts and damaging storms and profits will suffer.”


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