Resource strategy could hinder delivery of affordable and reliable energy to New Zealanders
The new Minerals and Petroleum Resource Strategy heightens the risk to affordable and reliable energy by failing to recognise the valuable contribution of New Zealand鈥檚 entire range of energy resources, says the Petroleum Exploration and Production Association of New Zealand (PEPANZ).
鈥淲e support the Government鈥檚 goals of lowering emissions and growing the economy to benefit all New Zealanders,鈥� says PEPANZ spokesman Phil Rennie.
鈥淗owever Boards need clear and consistent signals to make long term investment decisions, but unfortunately this document does not do that.
鈥淲e do not see how the confused signals, objectives and principles contained in the strategy can be operationalised in practical and meaningful ways.
鈥淎s demonstrated globally, lowering emissions and using the full suite of energy resources are compatible objectives.
鈥淓ven locally, as confirmed by the Interim Climate Change Committee, natural gas can be a major part of a just transition by replacing higher emitting energy sources and encouraging electrification by keeping the cost of electricity down and the lights on.
鈥淯nlocking everyone鈥檚 innovative capability to lower emissions rather than picking different fuel or technology types as winners or losers should be the goal of a progressive resources framework.
鈥淲e welcome the signal to make 鈥榩olicy decisions based on the best evidence鈥� and 鈥榠n a way that is fair, transparent, reasonable and proportionate鈥�.鈥�
鈥淣ew Zealand needs evidence-driven policies to encourage investment and job opportunities. We look forward to seeing this in the forthcoming Crown Minerals Act changes.鈥�