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Anadarko Oil Fail is Government’s Economic Flop


12 March 2014

Anadarko Oil Fail is Government’s Economic Flop

Greenpeace says the reported failure of Texan company Anadarko to find oil off both the Raglan and Otago coasts confirms the Government needs to stop supporting foreign oil companies and start backing our local clean energy industry.

“If its correct they have failed to find oil for a second time there are many who will open a Speights tonight in celebration of the news that Texan oil company Anadarko are about to batten the hatches and get out of here.” said Greenpeace campaigner Steve Abel.

“People in Dunedin, Kaikoura and Banks Peninsula will be breathing a sigh of relief that oil isn’t about to hit the beaches where their kids swim. While Anadarko’s shareholders must be asking, “Why are you wasting hundreds of millions drilling dry wells in New Zealand?”

“The Government should give up its manic pursuit of deepsea oil drilling off our coasts. Backing such a dirty industry is at odds with everything we stand for as a country - meanwhile the clean energy sector is booming globally. This is where New Zealand belongs - backing clean energy,” said Abel.

The New Zealand government is subsidising the oil and gas industry by $46 million dollars annually. (1) The National-led government has significantly increased its support for oil and gas through indirect subsidies such as taxbreaks and support for exploration data and research - up from $6 million in 2009 to $46 million in 2013.

Greenpeace Policy Advisor Nathan Argent said “Deepsea oil drilling is a risk to both our environment and economy. 50% of jobs in New Zealand rely on our clean green reputation and 70% of exports rely on New Zealand’s clean green reputation.”

“The Government needs to get behind our clean energy experts, especially in the areas of R&D and public funding. We need to create the right framework so that businesses in New Zealand know the government is serious about creating jobs, rebuilding our economy and reducing pollution. And the only way they can do that is by choosing a clean energy path.”

“It’s time for New Zealanders to get excited about our future. But we need to hurry up and get on board the clean tech train before we're left behind at fossil fuel station.”


1. http://awsassets.wwfnz.panda.org/downloads/wwf_fossil_fuel_finance_nz_subsidies_report.pdf

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