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Climate Minister Simon Watts says the ban was halting exploration that underpins our energy security. Photo / Alex Burton
By Russell Palmer of RNZ
The Government’s repeal of the 2018 oil and gas exploration ban has passed its final reading in Parliament.
The legislation had been set down for Tuesday night, but was delayed after a last-minute amendment to change the rules around liability for
the clean-up of decommissioned oil and gas fields.
The Climate Minister Simon Watts, standing in for Resources Minister Shane Jones, said the ban has pushed power prices up.
“The ban sent a chilling message to the investment community, halting the very exploration that underpins our energy security, and leading directly to the supply constraints and price volatility that we see today,” he said.