INDEPENDENT NEWS

PEPANZ welcomes Productivity Commission report

Published: Tue 4 Sep 2018 10:33 AM
PEPANZ welcomes Productivity Commission report
The Petroleum Exploration and Production Association of New Zealand (PEPANZ) has welcomed the Productivity Commission’s report into a low emissions economy, but say the focus needs to be on lowering net emissions rather than favouring certain energy sources.
"It also shows there are potentially very large costs to New Zealanders which reinforces the need to carefully weigh up the costs and benefits of policies, and who will bear those costs," says PEPANZ CEO Cameron Madgwick.
"The report warns that moving away from natural gas for the electricity system could see 'greatly increasing wholesale electricity prices'.
"However, we disagree that the move to a low emissions economy will require a complete shift away from oil and gas. Not all fossil fuels are the same, and natural gas will have an important ongoing role by replacing coal around the world.
"Not all oil and gas products are burnt, and new technologies are being developed to greatly reduce or even eliminate the emissions from natural gas-fired power plants. This is why the International Energy Agency predicts that natural gas will grow 45% by 2040 to become potentially the world’s largest single energy source.
"We support the inclusion of agriculture in the ETS, the need to plant many more new trees and that carbon capture and storage (CCS) has great potential. We also strongly support the calls for political consensus and long-term transparency so that businesses and households can plan for the future with certainty.
"It’s very telling that once again, in nearly 600 pages there is no mention of ending offshore exploration for oil and gas as having any impact on emissions."
ENDS

Next in New Zealand politics

Gordon Campbell on the Royal Commission into child abuse
By: Gordon Campbell
Cases delays: court staff refuse to handle sentencing papers
By: RNZ
Primary school teachers on strike again today
By: RNZ
Scholtens inquiry released
By: New Zealand Government
Prison reform group wants debate on prisoners' right to vote
By: RNZ
Jami-Lee Ross Temporary Delegate for Electors of Botany
By: New Zealand First Party
Do you know what data is being collected about you?
By: Maori Council
PM's Post-Cab 12/11/18: Abuse And Neglect Inquiry Expanded
By: The Scoop Team
Abuse survivors encouraged to speak as inquiry scope widens
By: RNZ
Terms of Reference set for Inquiry into Abuse in Care
By: Department Of Internal Affairs
Royal Commission of Inquiry scope expanded
By: New Zealand Government
Anglicans welcome a broader inquiry
By: Anglican Church in Aotearoa
Maori Council welcomes Dr Erueti’s appointment
By: Maori Council
Ongoing court strikes could lead to miscarriage of justice
By: RNZ
Judges Vigilant to Impact of Pay Dispute
By: Chief District Court Judge Jan-Marie Doogue
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media