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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Dunedin City Leads on Peak Oil

In a first for NZ, Dunedin City Council has commissioned a Peak Oil Vulnerability Analysis Report, which included surveys on travel habits, private fuel consumption and vehicle dependence and the effect of petrol prices . Appendices to the Report here

It assesses the city’s vulnerability to increased fuel prices and reduced availability of oil. It helps identify the associated challenges and opportunities for Dunedin’s communities.

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