Kia Ora all, I’m Paul Bailey, Green Party spokesperson for Hawkes Bay and I’ve been thinking about Apache Corporation pulling out of their farmout agreement they have with Tag Oil.
Yes, you heard it right, the company that was getting tooled up to start fracking the Hawkes Bay is leaving the East Coast.
Taken in conjunction with Petrobras’s decision to return their offshore East Coast permits, it’s no wonder that Tag Oil’s share price dropped by 37% this week. This demonstrates that even the stockmarket doesn’t believe there is as much money to be made on the East Coast as the oil companies and this government would have us believe.
Apache’s decision also makes the $100,000 rate payer funded East Coast Petroleum Development Study something of a white elephant.
However the war is not over yet. Another exploration company, Marauder Resources, have been granted an oil and gas exploration permit on a block to the northwest of Napier and Hastings including all of Bayview, Rissington and Sherenden. One has to wonder why our local MPs bothered protecting of the Heretaunga plains aquifer when the water that feeds the aquifer is now being put at risk.
We will be working hard to educate landowners on their rights, so that they can make properly informed decisions when Marauder comes knocking on their doors. Landowners are under no obligation to sign access agreements and we ask that before making any decision that they talk to their neighbors, and local community, to see what they want. The oil companies are experts at using divide and conquer tactics, not something that is going to assist them in gaining their social licence to operate.
The Green party believes that we need to start weaning ourselves off our addiction to fossil fuels. This won’t be easy for anyone, including myself, but at the end of the day we live on a planet with finite resources and pumping more carbon into the atmosphere than it can handle sustainably is a zero sum game, which is why we have such an aversion to further oil and gas exploration.
Thanks for listening, I’m Paul Bailey, Green Party Spokesperson for Hawkes Bay, wishing you a frack free New Year.