Economic impact of ending new oil and gas exploration permits outside onshore Taranaki
In: http://hdl.handle.net/11540/9701
The Petroleum Exploration and Production Association of New Zealand (PEPANZ) commissioned NZIER to estimate the macroeconomic and regional economic impacts of the Government decision to ban the granting of new oil and gas exploration permits outside onshore Taranaki. This ban was given effect through the Crown Minerals (Petroleum) Amendment Act 2018, and this report refers to this policy in shorthand as "the ban" To date, publicly available economic analysis on the decision has been limited to primarily the fiscal analysis contained in the Regulatory Impact Statement (RIS) accompanying the Cabinet paper, prepared in support of the Crown Minerals (Petroleum) Amendment Bill. This outlined the regulatory changes required to implement the ban and focused on the fiscal impacts to the Government through taxes and royalties, rather than the wider economic impacts. It is important to note that this analysis on financial impacts to the Crown was conducted after the policy had already been announced.