Soaring energy bills are a problem for firms, households, and the government. This was a headline in The Economist last week – but it can’t happen here, can it?
After all, NZ has plenty of energy. Unlike Europe, 80% of its electricity is from renewable sources. And according to oil industry authorities, NZ is surrounded by a massive continental shelf — the fifth largest in the world, beneath which lie vast quantities of undiscovered natural gas and, probably, some light oil.
So surely NZ can face the future with confidence?
Well, no: let’s not forget Prime Minister Jacinda Ardern had her “non-nuclear” moment and placed a ban on new offshore exploration permits for oil and gas. Since then, as international oil explorers gave up their offshore exploration licences, supplies from existing producing wells have begun to diminish for several reasons.
Higher costs are starting to flow into household and business …
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Utopia, you are standing in it! 
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