Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Refinery Closure Strategic Mistake

Shutting down New Zealand's capability to refine oil by turning Refining New Zealand into an importer of pre-refined fuel would be a grave strategic mistake.

Such a move would put New Zealand at the mercy of international oil powers and remove completely our ability to refine oil extracted from New Zealand fields should it become necessary to rely on those sources.

Should the oil company owners of the refinery decide to close it, the government should step in and compulsorily purchase it and turn it into an State Owned Enterprise.

It could do that very easily and without cost to taxpayers, by using some of the $60 billion dollars the Reserve Bank is creating currently to buy government bonds off rich investors, banks and speculators.

Returning the refinery to New Zealand ownership would reverse the privatisation of it undertaken by Labour in the 1980's, and should be the start of more strategic assets being bought back - a process that would be undertaken by a Social Credit government.

New Zealand owning the refinery would retain the expertise of the existing staff, keep that employment and income in Northland, and ensure a greater level of fuel security.

The refinery could even be run as a zero profit enterprise which would bring fuel costs down for New Zealand motorists, the transport industry, Air New Zealand, and roading contractors who use bitumen the refinery produces.

While a move to alternative fuels like hydrogen and ethanol are important, with the government as shareholder the refinery could still continue to develop those options in an effort to move New Zealand towards a more self-sufficient energy position.

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On The US Opposition To Mortgage Interest Deductibility For Landlords


Should landlords be able to deduct the interest on the loans they take out to bankroll their property speculation? The US Senate Budget Committee and Bloomberg News don't think this is a good idea, for reasons set out below. Regardless, our coalition government has been burning through a ton of political capital by giving landlords a huge $2.9 billion tax break via interest deductibility, while still preaching the need for austerity to the disabled, and to everyone else...
More


 
 

Government: Concerns Conveyed To China Over Cyber Activity
Foreign Minister Winston Peters has confirmed New Zealand’s concerns about cyber activity have been conveyed directly to the Chinese Government. “The Prime Minister and Minister Collins have expressed concerns today about malicious cyber activity... More

ALSO:


Government: GDP Decline Reinforces Government’s Fiscal Plan

Declining GDP for the December quarter reinforces the importance of restoring fiscal discipline to public spending and driving more economic growth, Finance Minister Nicola Willis says... More

ALSO:


Government: Humanitarian Support For Gaza & West Bank

Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More


Government: New High Court Judge Appointed

Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.