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Ending offshore exploration is lose-lose

Ending offshore exploration is lose-lose


“The Government’s decision to end offshore oil and gas exploration will put 11,000 jobs at risk and could harm the environment”, says ACT Leader David Seymour.

“The oil and gas industry creates thousands of jobs, contributes $2.5 billion to the New Zealand economy and $500 million to the Government in royalties each year.

“Not only will this policy make us poorer as a country, it will drive production of oil and gas overseas which will harm the environment.

“Natural gas has about half the emissions of coal, and New Zealand-produced oil has lower emissions than oil produced overseas

“Ending offshore exploration will force New Zealand households and firms to buy higher-cost and dirtier energy from foreign sources.

“This is another example of Jacinda Ardern governing by what sounds good without asking the questions ‘will this policy work’ and ‘what will be the side effects’?

“This is a dangerous and arrogant government that will destroy wealth and opportunity without warning - no sector is safe.

“This is a lose-lose policy and the Government should consider very carefully how it will impact New Zealanders”, says Mr Seymour.

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