Monday, 20 September, 2004

Copeland: Oil self-sufficiency a national goal?

United Future energy spokesman Gordon Copeland today called for wider debate in New Zealand about making self-sufficiency in oil a national priority.

"New Zealand has only a 60-day stockpile of oil. That is completely unacceptable from a strategic viewpoint.

"We are at the end of the world's supply chain and are therefore exposed to oil supply disruption at any time. This could arise through terrorist activity or natural disaster but whatever the cause, the net result for New Zealand would be disastrous oil shortages.

"Australia, recognising these realities, has put in place incentives to encourage exploration for and production of more oil; and that in a nation which is already 70 percent self-sufficient.

"New Zealand's self-sufficiency by contrast is just 20 percent, so a logical initial step would be for us to put in place equivalent incentives in this country.

"Longer term, our goal should be nothing less than complete self-sufficiency."

ENDS

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