Key defends oil standards

VERNON SMALL
Last updated 18:33 23/01/2014

Relevant offers

Politics

Forget the sauna and Mr X sideshows, says Colin Craig's lawyer 'Anti-separatist' campaign launched against 'Maori favouritism' ahead of 2017 election Hollywood big guns among crowd at swearing in of new Governor-General Dame Patsy Reddy Presential election hype follows US expats to Marlborough Queenstown council bylaw review process hijacked by 585 submissions, some dodgy Green MP Kevin Hague: 'Unfinished business' in mental health Auckland mayoral debate turns into shoving match between screaming candidates Labour up 8 per cent in latest Roy Morgan poll but NZ First still holds the power Auckland mayoral candidate John Palino calls for 'task force' of retired police No show from Education Minister at school union conference

Prime Minister John Key has defended oil-exploration safety and environmental standards after Labour said they fell short of world's best practice.

Speaking after his state of the nation speech in Auckland today, Key said the Government saw opportunities to expand the country's resource base "including deep water under the right protections and under the right measures".

A record $750 million would be spent this year by oil companies looking for oil and gas reserves, he said.

"What we are doing is working and it's working safely."

Labour leader David Cunliffe on Wednesday reiterated his party's pledge to change the law to ensure world best practice on environmental standards, insurance and cleanup measures.

Labour was not opposed to exploration in principle, he said.

However, if new consents did not meet the new standards they would not proceed, but there would be no "moratorium".

Existing contracts would not immediately be halted.

Cunliffe said Labour's position on deep-sea drilling had not changed since comments he made in November.

Cunliffe said he had looked at Norway's law and its standards and at the way it used the income from royalties in a sovereign wealth fund. It was an interesting idea, but no decisions had been made.

He and MPs from other parties met representatives of Norway's Statoil in December.

"We have long recognised Norway as a good example of environmental regulatory practice, but no specific matters were discussed in detail and certainly no changes to party policy or any policy position took place as a result of my meeting with Statoil," he said.


Ad Feedback

- Fairfax Media

Special offers
Opinion poll

Should the speed limit be raised to 110kmh on some roads?

Yes

No

Vote Result

Related story: 110kmh limit moves closer

Featured Promotions

Sponsored Content