Explore, suck it out, and sell sell sell


Spending more than $110,000 of taxpayers’ money to try and attract big oil companies that have already turned their back on mining in New Zealand is a “total waste of money”, Green MP Gareth Hughes says.

Figures sent to Hughes by Energy Minister Judith Collins reveal $111,331 was spent by the Government on marketing and promotions for the most recent block offer for oil exploration last year.

Of that figure, $42,000 was spent on overseas travel, $3200 on local travel and the rest on marketing.

Hughes said given only one permit was awarded in Block 2016 to New Zealand company, Todd Energy, it defied belief that so much money would be spent on attracting offshore companies.

Interesting to see the Green party arguing that it is the lack of return on investment that should see us back out. ?That’s as unique as it’s deceitful. ?? Read more »

Good idea

? NZ Herald

The West Coasters want a bigger slice of the pie:

West Coasters want any increase in coal and goldmining royalties handed back to the district of origin.

Bumping up royalties is among recommendations in a review of the Crown Minerals Act.

The review, which is open for public submission, aims to streamline the regime and ensure better coordination of regulatory agencies.

West Coast-Tasman MP Damien O’Connor said the mining industry had taken enough from the West Coast and it was time it started to pay it back, not take more.

“Before the National Government screws down the mining industry it should give some thought to the local communities who have to pay for and maintain the infrastructures that support it,” he said.

What an absolutely brilliant idea from Damien O’Connor.

In the same vein I’d like to see all the road user tax collected by the region actually spent in the region. That way Auckland would have plenty of cash to fix its roads.

Likewise I’d like to see tax revenue spent according to population too. Fifty per cent of the population live north of Taupo…so let’s have 50% of all government expenditure spent inthe same area.

Damien O’Connor has come up with a brilliant idea.

Shared Equity, A disaster waiting to happen?

Adolf thnks so and so do I.

Absolutely the last entity that I would want as a shared equity partner is the government.

As Gerald Ford once said "A government big enough to give you everything you want is a government big enough to take from you everything you have."