Straterra, a body representing mining companies has said, "New Zealand is in an excellent position to withstand any future oil shocks, thanks in particular to our lignite and geothermal resources". Straterra was commenting on the Parliament's research unit report called "The Next Oil Shock". The Report says major international organisations are warning of another supply crunch as soon as 2012.
What planet are these guys on ? Let's be clear -- geo-thermal energy produces electricity. It cannot power New Zealand's internal transport system - or carry our imports and exports -- 99% of which relies on liquid fuels. If our transport systems cannot run efficiently the economy heads south into recession.
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