Energy Strategy commits to resource development
112 Day Challenge: Energy Strategy commits to resource development
30 August 2011
PEPANZ Spokesperson John Pfahlert has welcomed the Government’s Energy Strategy released today, saying it signalled a new era of mineral wealth.
Mr Pfahlert said generations of New Zealanders had grown up mistakenly thinking the country lacked mineral resources, when in fact there was plenty of oil, gas and other minerals.
“The Woodward report released with the Strategy shows royalties from oil and gas fields could increase to $12.7b.
“The release of this Strategy is the start of an era in which New Zealand truly appreciates the extent of its mineral resources, and is determined to access them.
“The Strategy is a wise balance between mineral use and environmental safeguards, and community engagement,” he said.
The Strategy includes the plan for a High Hazards Unit, requirement for greater industry insurance cover, and a system for managing environmental risks of activity in the Exclusive Economic Zone.
“PEPANZ supports the review of the Crown Minerals Act and the proposal for annual Block Offers.
“The Strategy still aims for the goal of 90% renewable fuels for electricity production, but acknowledges that we cannot “turn off the tap” before we get there, especially with so much mineral resource available,” Mr Pfahlert said.