A listen to the podcast of RNZ Morning Reports' discussion with NZR CEO is more instructive and constructive than the unsubstantiated fear mongering on here
A listen to the podcast of RNZ Morning Reports' discussion with NZR CEO is more instructive and constructive than the unsubstantiated fear mongering on here
Absolutely - great stuff. Worthwhile as well to read the associated article:
Apparently there is a government report from 2012 saying that a short outage would cost the NZ economy close to $100m and a long outage up to $500m.
Government says as well that an outage of more than a week or 10 days would risk international tourism and exports, while NZ Refining said it would take 10 to 15 days to repair the pipe.
No need to worry - all hunky dory.
Just wondering who is going to pay for this mess?
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"Prediction is very difficult, especially about the future" (Niels Bohr)
It was in the papers at the time. The OECD I think said that NZ should hold greater reserves to meet international standards and Bridges announced we would use ofshore contracts. It has also been ibn the papers that there was a cabinet paper in 2012? that looked at greater fuel reserves at Wiri , advocated by AirNZ, and it was turned down. It would have cost $57m
I would say the pipeline is monitored enough. They send a 'pig' down that takes readings of the pipeline condition (I'm sure RefiningNZ PR would love to tell anyone interested about it). The only reason this occurred was due to outside input (scraping the pipeline). Corrosion is a nasty disease. This is also not to do with not having enough reserves. There is plenty of fuel. It's a matter of transport.
What was it 70000 ltrs in the ground. 0.77% of what they send down the pipeline daily. It does suck for the environment but that's the price to pay for all our luxuries. I'd say no one is more upset then the NZR and the shareholders. That pipeline is their bread and butter.
In the otherside, during this crisis, the market will be known how important the NZR means to New Zealand economy，and better understand its monopoly position.
10 - 15m not chump change for sure 4% revenue but if insurance covers some and extra throughput in coming mths would easliy make it back , definately not the end of the world
But what happens if some political party decided in the run-up to the election that it must fix the problem and to paraphrase Trump build a second pipeline and NZR will pay for it. Disc don't hold and no inside knowledge of this as any parties policy
But what happens if some political party decided in the run-up to the election that it must fix the problem and to paraphrase Trump build a second pipeline and NZR will pay for it. Disc don't hold and no inside knowledge of this as any parties policy
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Originally Posted by Xerof
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