Christchurch quake cost added to our yearly oil import bill?

By 2015 New Zealand could face an extra $10 billion cost each year to import oil, compared to 2011 prices. That's more than the cost to government of the Christchurch earthquake each and every year! By 2020 the oil import cost each year could soar to $19 billion more than the present cost. That's the bill for two Christchurch earthquakes every year.

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New Zealand at greater risk from oil shocks -- official advice ignored

In November 2009 senior officials warned the government --

• the risks of oil price shocks and a physical shortfall in the world supply are issues of "strategic importance"
• New Zealand is more vulnerable and may suffer more than other OECD economies
• new technologies and fuels will only "marginally" reduce New Zealand's vulnerability to these oil supply/price risks
• without "sufficient incentives" New Zealand's resilience will decrease even further
• a substantial increases in domestic oil production will not insulate New Zealand from higher oil prices because oil is traded internationally and we would still pay the international price.

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Public Receptive to Peak Oil Debate and Policy Ideas - Survey

It's a common misconception that only "greenies" and "doomsters" are concerned about peak oil. This view perhaps explains why politicians and the mainstream media have marginalised or ignored the issue. However a recent US survey of public opinion reveals that, in fact, those Americans who identify themselves as "very conservative" politically or who are "strongly dismissive" of climate change are among those most concerned that rising fuel prices are harmful to the economy and public health.

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New Zealand’s Tui Oil Field. - Peak Oil With Bells On

One of the least understood elements of peak oil is the rapid decline rate of production from the peak for any given oil field. For an example of just how severe and steep the decline rate can be, look no further than the recent announcement that the Tui oil field in the Taranaki Basin has had its remaining oil reserves slashed by 1/5, and that production will fall off a cliff. For a New Zealand oilfield, this is peak oil in action with bells on.

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