NZIER commissioned to look at impacts of oil and gas decision
The economic and environmental impacts of an end to offshore exploration for oil and gas will be the focus of new research commissioned from the New Zealand Institute of Economic Research (NZIER).
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鈥淭his is an unusual step for us, but we鈥檙e concerned there hasn鈥檛 been robust analysis of the decision and the consequences it will have,鈥� says Petroleum Exploration and Production Association of New Zealand (PEPANZ) CEO Cameron Madgwick.
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鈥淲e are very concerned at the potential impacts of the decision on jobs, incomes, households and businesses.
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鈥淭he research will look at this and the impacts on Government royalties, exports, and industries that rely heavily on energy, as well as the regional impacts for areas like Taranaki.
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鈥淚t will be robust and independent, looking at different scenarios out to 2040. It will also look at the impact on New Zealand鈥檚 net carbon emissions.
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鈥淚deally the Government would have done this work before making such a decision. As an industry we share their goals of lowering emissions and sustainably growing the economy, but an end to exploration doesn鈥檛 seem the right way to achieve this.鈥�
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The research is expected to be completed in late August.