Great news for New Zealand and in particular the Hawkes Bay as two oil and gas companies spend their money to increase the jobs and invest in New Zealand.
The Greenies of course will cry fracking hell at the prospect of increased work opportunities, investment in New Zealand infrastructure and increased tax take for the government coffers.
The fact that the Maui gas field is winding down and New Zealand will benefit greatly from increased security of supply of energy sources will be irrelevant. What they want is for us all to live in caves, walk (or bike everywhere) and promote so called “green technologies” which are economically unfeasible and only work with massive tax-payer funded subsidies (variation of a ponzi scheme).
The licence area sits between two others being explored by fellow Canadian TAG Oil, near Gisborne in the southern Hawke’s Bay, both of which have prompted opposition from local environmental groups who fear TAG and its Texan partner, Apache, plan to use hydraulic fracturing, or “fracking”, to unlock hydrocarbons held in shale formations.
Oh this will be good.
The lunatic conspriacy theory Greens will attack fracking. But fracking will be shown to be safe and sustainable and cost effective.
The controversial oil and gas extraction process known as hydraulic fracturing, or “fracking”, is capable of being managed sustainably and without serious risk of groundwater contamination or inducing damaging earthquakes, the Royal Society has found.
One of the world’s most respected independent scientific bodies, the society worked with the Royal Academy of Engineering to produce a report sought by the UK’s chief scientific adviser, John Beddington.
Another greenie myth dispelled and proven to be nothing but a lie based on fear of the stupid and gullible. I wonder what their next lie will be?
The Labour Party will no doubt be wanting to nationalise any discovery which will be just the trick to encourage more investment in the extraction industry in New Zealand. After all to do otherwise would be inconsistent with their other policy announcements. But here is the problem for Labour; The Greenies will want to plant an organic garden on top of any discovery and shut it all down. Labour will want the production from any discovery. How will the two parties reconcile their differences on the future of mining and extraction in New Zealand?
Probably by caving to Green demands to print more money.