Yes really going to hurt high household debt nations with Govt that love to increase living costs with increasing taxes
Printable View
And with today's announcement to ban further offshore oil and gas exploration (which will actually make global greenhouse gas emissions worse), the rise in oil prices comes at a time when we now face a future were NZ will become even more dependent on overseas producers for our energy needs.
Yep we still need that Taranaki gas !Its running out
The oil and gas we would otherwise produce for domestic consumption will have to be shipped to NZ - shipping is one of the world's biggest polluters: https://qz.com/1064658/the-shipping-...ts-dirty-fuel/
There's also the question of where the imports will come from - a lot of oil/gas producing countries have much less rigorous environmental standards than we do.