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Lobby group: Govt needs to rethink oil and gas ban

Author
Newstalk ZB ,
Publish Date
Wed, 20 Feb 2019, 9:13AM
The Government has been accused of not thinking through the cost of the ban properly. (Photo / File)

Lobby group: Govt needs to rethink oil and gas ban

Author
Newstalk ZB ,
Publish Date
Wed, 20 Feb 2019, 9:13AM

An oil lobby group is again calling on the Government to rethink its ban on future oil and gas exploration.

Petroleum Exploration and Production Exploration New Zealand has commissioned NZIER research that's found the ban could cost the New Zealand economy $30 billion by 2050.

Read more: Oil and gas ban's likely cost of $30 billion labelled as unsurprising

Chief executiveCameron Madgwick told Mike Hosking the report's numbers are shocking.

"These are incredibly sobering numbers. It's the sort of analysis that should have really been done at the time of this decision."

Madgiwck says such an economic hit will hurt every New Zealander.

He says Government should have independent bodies look into it.

"Independent bodies looking at facts and evidence to give me assurance that they got this decision right. Because what I'm looking at, it just doesn't look like that's the case."

 

 

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