Brownlee, oil and gas, growth and the free market.

Come in, come in, here’s the family silver. We polished it up at our own expense, so that it was worth more to you. Here, let me hold the sack , while you fill it.

Thanks, Gerry, but no thanks. Your little effort is bankrupt in both senses. For a start, this is a finite resource. Secondly, it’s a carbon-releasing resource.

Being finite, it is an interim measure. This is not an ‘energy strategy’, this is a ‘let’s milk it temporarily, and leave the kids the bill’ one.

Being a carbon emitter, this resource needs to be sequestered, and of course, there isn’t the sequestration around to deal with it. Worse, by the time it is ready to be produced, the sequestration will have to be 100%.

Exploration and production folk, of course. aren’t the ones to know about, care about, or do anything about – sequestration. So- we have to look to our leaders….. What a joke – both major parties. One gives awards to (diesel) train drivers for being more efficient – when they’re hauling coal from the West Coast over Arthur’s Pass, for shipping to China, where it will be burnt. The other just doesn’t care. Full steam ahead, boys, there is no abyss.

Sadly, the lead-times are such (ten years at least from seismic to flowing) that none of the oil will see the light of day. The world will have experienced it’s epithany by then, or is that it’s Armageddon. Let’s just say that collectively, the world will be in the same frame of mind an individual is in, when they come out of Oncology, having been told their time is up.

Long before then, the ‘free market’ will have fallen over  – bailouts cannot fix it’s intrinsic failing.

Meantime, we are funding the Bergen Resolution and the Kan Tan 1v, to the tune of $20 million this fiscal year. The information will be free – yes, free from the taxpayer – and this has been ‘well recieved’ by the exploration industry.

Surprise, surprise.

Brownlees last statement to the Conference, was the most gormless. He says the Government is doing this because it is “serious about raising living standards’ and  – the beauty – ‘increasing economic growth’.

Sorry Gerry, fiscally flawed as usual. I’d try and stop you, but the process will stop itself before it gets going. You simply get to run into the brick wall Ger, just before you change up into 5th.

What a pity we can’t confiscate and crush Portfolios.

One Response

  1. Ahh the cold light of reality. Thanks for pulling back the curtain 🙂

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