New Zealand Party Pushes For a Moratorium on Fracking and Deep Sea Oil Extraction

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New Zealand Party Pushes For a Moratorium on Fracking and Deep Sea Oil Extraction A political party in New Zealand is pushing for a moratorium on some mining and energy industry practices such as hydraulic fracturing, undersea and deep-sea extraction and oil waste disposal.

In its environment policy that was published on Sunday, the Internet Party also wants to promote the “absolute right” of the citizens to demonstrate at the sea in protest against deep-sea oil production, reported the New Zealand Herald.

“National has been pushing New Zealand towards a greater dependence on the extractive industries at a time when climate change and land and water protection demand the opposite,” said Laila Harre, the internet Party leader.”We will place moratoria on the hydraulic fracturing of oil and gas wells, and deep-sea drilling. The direct safety risks of these industries have not been adequately investigated or managed.

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Ms. Harre said that the cost associated with an accident such as an oil spill to the coastal and marine environment would be too steep. The Internet Party is also seeking to overturn the ban on holding protests opposing deep sea oil exploration. The Internet Party also supports the Green Party’s proposal to introduce carbon tax as the first step for policy negotiations after the elections.

However, the party said it wasn’t convinced of the viability of the proposal to spread all the revenue raised via the carbon taxes to every household.

In a separate report, energy firms Collier Resources Company and the Dan A. Hughes Oil Company agreed on Friday to end their lease agreement to drill exploratory wells in Naples, Florida. However, the agreement leaves out the Collier Hogan 20-3H well, which is adjacent to the Corkscrew Swamp Sanctuary. Hughes Oil abandoned plans to drill near the Golden Gate Estates Development. To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.

To contact the reporter of this story; Jonathan Millet at john@forexminute.com