N@N

Oil and gas lobby asks government to underwrite fossil fuel exploration, minister 'considering options'

The oil and gas lobby in New Zealand has requested government support to underwrite fossil fuel exploration, citing the need for energy security and economic benefits. This request comes in light of the government's recent decision to lift the ban on offshore oil and gas exploration. The lobby argues that without financial backing, exploration activities might not be economically viable due to the high risks and costs involved. The government is currently considering various options, including potential financial incentives or guarantees, to encourage exploration while balancing environmental concerns. This move has sparked a debate about the future of New Zealand's energy policy, with environmental groups opposing the support for fossil fuels, advocating instead for investment in renewable energy sources.

Read the Full MSN Article at:
[ https://www.msn.com/en-nz/politics/government/oil-and-gas-lobby-asks-government-to-underwite-fossil-fuel-exploration-govt-considering-options/ar-AA1v4Npf ]