The Government is overstating the economic benefits of expanded oil and gas exploration in New Zealand says the Green Party. "New Zealand has the fourth lowest take of any oil producing nation," said Green Party energy spokesperson Gareth Hughes.
"New Zealand tax payers don't get a fair return from oil drilling. "Funding for core services like schools and hospitals shouldn't be dependent on oil royalties. "Most expanded profits from the industry will go offshore to the foreign owned companies, like Petrobras, that the Government has handed out exploration permits to.
"The Government is not accounting for the economic and environmental cost of expanding a carbon intensive industry. "There is a direct cost to increases in carbon emissions. The Minister is silent on the environmental cost.
"The Government is not giving a realistic picture of the real costs of oil drilling. They need to do that before crowing about it's benefits. "Dangerous deep sea oil drilling should not be the basis of our economic future."