Strypey
@strypey@mastodon.nzoss.nz  ·  activity timestamp 4 weeks ago

"Todd Energy's permit may simply end up as an accounting fiction, used to boost the nominal value of the company while the gas stays in the ground."

@norightturnnz, 2025

Is there anything we can do to encourage this? Or even better, make keeping fossil fuels in the ground more financially valuable than extracting them? Other than the obvious, ie replacing then ASAP with renewables.

#FossilFuels#ClimateAction
Idiot/Savant
@norightturnnz@mastodon.social replied  ·  activity timestamp 4 weeks ago
@strypey I think simply increasing political risk encourages it. Exploiting a new offshore gas field is a billion dollar financial risk which takes 5-10 years to happen and then 20 years to pay off. During which the polluter wants certainty that they'll be allowed to continue.

Political parties saying "we will ban this" denies that certainty, and increases fear that any money spent will be wasted.