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Wednesday, November 30, 2011

NZ Election 2011 - Praying to the Growth Fairy

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I had thought that my next post would be on the surreal lack of policy from any of the political parties in the Election addressing resource depletion and their collective failure to face the reality that "economic growth" is not returning.

Before I could get around to it I read this excellent post from James Henderson at "The Standard", and so I am re-posting it here. 

Monday, November 7, 2011

Election 2011 Two-facedness - Saving money good - saving fuel bad

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All of the political parties agree New Zealand needs a long-term savings and investment plan . These elections there have been major policy announcements on Kiwisaver, reducing debt and the age of eligibility for National Superannuation. Saving money good.

But when confronted with arguably a more serious and immediate threat to New Zealand's economy, national well-being and security -- namely our dangerous exposure to oil price shocks, and oil supply disruptions and shortages, - all the main parties fail to articulate a coherent long-term plan to lower our dependence on ever more expensive imported oil. Saving fuel bad.

Wednesday, November 2, 2011

Huge blowout in NZ oil import cost

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In the year to September oil imports rose 22% to $7.7 billion. Oil is costing us $1.4 billion more than a year ago.

If this price trend continues then by 2015 our annual oil import bill will soar to $17 billion and will be $11 billion more than it was in 2010. That annual extra cost will be greater than the government's contribution to the Christchurch earthquake.