The new Minerals and Petroleum Resource Strategy heightens the risk to affordable and reliable energy by failing to
recognise the valuable contribution of New Zealand’s entire range of energy resources, says the Petroleum Exploration
and Production Association of New Zealand (PEPANZ).
"We support the Government’s goals of lowering emissions and growing the economy to benefit all New Zealanders," says
PEPANZ spokesman Phil Rennie.
"However Boards need clear and consistent signals to make long term investment decisions, but unfortunately this
document does not do that.
"We do not see how the confused signals, objectives and principles contained in the strategy can be operationalised in
practical and meaningful ways.
"As demonstrated globally, lowering emissions and using the full suite of energy resources are compatible objectives.
"Even locally, as confirmed by the Interim Climate Change Committee, natural gas can be a major part of a just
transition by replacing higher emitting energy sources and encouraging electrification by keeping the cost of
electricity down and the lights on.
"Unlocking everyone’s innovative capability to lower emissions rather than picking different fuel or technology types as
winners or losers should be the goal of a progressive resources framework.
"We welcome the signal to make ‘policy decisions based on the best evidence’ and ‘in a way that is fair, transparent,
reasonable and proportionate’."
"New Zealand needs evidence-driven policies to encourage investment and job opportunities. We look forward to seeing
this in the forthcoming Crown Minerals Act changes."