NZ slams door on oil, gas

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The Government has ceased offering new offshore oil and gas exploration permits and restricted permitting to just onshore Taranaki targets, a definitive move to transitioning away from fossil fuel extraction.

In a statement this morning Ms Ardern said there would be no further offshore oil and gas exploration permits granted.

"The block offer does not affect any jobs that are already there", he said.

Mr Madgwick, and New Zealand Oil & Gas chief executive Andrew Jefferies both emphasised the decision sent a worrying message to domestic and global investors, about New Zealand as a place to invest and create jobs.

Her government, elected past year, has ambitious goals of generating all power in New Zealand from renewable sources by 2035 and becoming carbon neutral by 2050.

Mr Jeffries says the company is focusing on assets where its New Zealand capability can add value, with a preference for gas assets because gas is seen in most jurisdictions as a vital energy source for the transition to a lower carbon world.

"It's a radical proposition, yet today we find out that despite that they have no intention of doing anything that would actually change things", he said.

Greenpeace New Zealand was on the vanguard of highlighting the risks of offshore oil exploration and drilling when in 2011 it formed an alliance with East Cape iwi, Te Whānau-ā-Apanui, and mobilised a flotilla to protest seismic blasting for deep sea oil by Brazilian oil company, Petrobras, who subsequently abandoned the initial survey and then surrendered their permit altogether.

Fear of the economic costs have been strongest in the regions - Taranaki in particular - and New Plymouth mayor Neil Holdom called the decision a "kick in the guts".

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"Is the government going to put money to help us?"

The country's upstream petroleum association said it was "very disappointed in the government's decision to halt offshore Block Offers", adding that it was "likely to affect New Zealand's energy security and worldwide reputation".

Jacinda Ardern said students have been part of our most significant social issues in the past.

"Last week's announcement of the Taranaki Action Plan was a first step in that process. It certainly has nothing to do with climate change", Young said.

Organizations that discover more oil and gas reserves at which they've permits could drill for decades, even and also new on-shore permits could be issued.

The National Party said the move was "economic vandalism".

Forest & Bird chief executive Kevin Hague described the decision as a "victory for New Zealand's seas", in protecting ocean wildlife from seismic testing and oil spills.

Climate Change Minister James Shaw said Ms Bennett, when she was climate change minister, had signed the Paris Accord, which committed every country to hit net zero emissions in the second half of this century. "Confidence among both overseas and domestic investors may be the longer-term casualty of today's decision", said Hope.

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