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Taxpayer-funded decommissioning of an oil field outrageous

Published: Thu 28 Nov 2019 11:26 AM
28 NOVEMBER 2019
Taxpayer-funded decommissioning of an oil field is outrageous
Responding to news that taxpayers may have to cover the $155 million cost of decommissioning a Taranaki Oil field, New Zealand Taxpayers’ Union spokesman Louis Houlbrooke says:
“The fact taxpayers could be footing this bill is alarming and begs the question of why we are liable for any decommissioning costs in the first place.”
“On one hand, the Government is banning new oil exploration. On the other, it’s offering to use taxpayer money to help oil companies cover costs. In other words, two dumb, contradictory policies from different governments have come together to hammer taxpayers twice.”
“A common sense approach would be to welcome oil exploration and the tax revenue it brings – but with bonding or compulsory insurance so that taxpayers are ensured that oil companies can and do cover shutdown costs.”
ENDS
New Zealand Taxpayers' Union
New Zealand's grassroots campaign for lower taxes and less government waste
The New Zealand Taxpayers' Union is an independent activist group, dedicated to being the voice for Kiwi taxpayers in the corridors of power. It's here to fight government waste and make sure New Zealanders get value for money from their tax dollar. New Zealanders are invited to join and donate at http://taxpayers.org.nz
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