Latest news with #ToddEnergy
Scoop
03-06-2025
- Politics
- Scoop
$200 Million For Oil And Gas An Affront To The Youth Of Aotearoa
Press Release – Climate Justice Taranaki Driven by corporate greed, Jones, McLeod and the current government are quite happy to sacrifice the future of a liveable climate for coming generations for short-term profits for their mates in the oil and gas industry, says Urs Signer, from the community … 'The government's budget announcement to use $200 million of taxpayers money to subsidise the oil and gas industry while we are in the middle of a climate crisis is completely out of touch with the global scientific community's call for drastic action to reduce greenhouse gas emissions' says Urs Signer, from the community group Climate Justice Taranaki. 'It is obvious that MPs like Shane Jones and our local New Plymouth MP David McLeod are stuck in the dark ages when it comes to taking urgent action on climate change and have demonstrated once again that they do not understand that there is no economy on a dead planet. For decades, the neoliberal agenda of resource extraction to accumulate more and more wealth for the rich and powerful has driven us into what is now called the sixth mass extinction. Driven by corporate greed, Jones, McLeod and the current government are quite happy to sacrifice the future of a liveable climate for coming generations for short-term profits for their mates in the oil and gas industry. It is an absolute affront to the youth of Aotearoa that this government is happily throwing their future away for fleeting economic gain.' 'We all know the fossil fuel industry has no future. The government needs to get real and invest in transition jobs like Jobs For Nature, rural health clinics, sustainable timber milling for local markets and fossil-free technology for small-scale local agriculture.' 'We will also be organising against Todd Energy's new application to explore for oil and gas off the coast of Kawhia or the government's proposed new offshore wells near Maui.' 'Climate Justice Taranaki has been holding weekly Friday pickets outside oil and gas giants like OMV, Beach and Todd Energy in New Plymouth to highlight our community's opposition to their agenda of drilling us into extinction. We will keep pushing back against this government's mining agenda. Seabed mining, oil and gas drilling and coal extraction have no future in Aotearoa' concludes Signer. To join the Fossil Fool Fridays for Future pickets, meet 8am on Gill St outside oil and gas miners: OMV, Todd and Beach Energy with a banner or placard. The picket will visit the ANZ bank afterwards due to their investment in Bathurst Resources coal mining in the South Island.
Scoop
03-06-2025
- Politics
- Scoop
$200 Million For Oil And Gas An Affront To The Youth Of Aotearoa
Press Release – Climate Justice Taranaki Driven by corporate greed, Jones, McLeod and the current government are quite happy to sacrifice the future of a liveable climate for coming generations for short-term profits for their mates in the oil and gas industry, says Urs Signer, from the community … 'The government's budget announcement to use $200 million of taxpayers money to subsidise the oil and gas industry while we are in the middle of a climate crisis is completely out of touch with the global scientific community's call for drastic action to reduce greenhouse gas emissions' says Urs Signer, from the community group Climate Justice Taranaki. 'It is obvious that MPs like Shane Jones and our local New Plymouth MP David McLeod are stuck in the dark ages when it comes to taking urgent action on climate change and have demonstrated once again that they do not understand that there is no economy on a dead planet. For decades, the neoliberal agenda of resource extraction to accumulate more and more wealth for the rich and powerful has driven us into what is now called the sixth mass extinction. Driven by corporate greed, Jones, McLeod and the current government are quite happy to sacrifice the future of a liveable climate for coming generations for short-term profits for their mates in the oil and gas industry. It is an absolute affront to the youth of Aotearoa that this government is happily throwing their future away for fleeting economic gain.' 'We all know the fossil fuel industry has no future. The government needs to get real and invest in transition jobs like Jobs For Nature, rural health clinics, sustainable timber milling for local markets and fossil-free technology for small-scale local agriculture.' 'We will also be organising against Todd Energy's new application to explore for oil and gas off the coast of Kawhia or the government's proposed new offshore wells near Maui.' 'Climate Justice Taranaki has been holding weekly Friday pickets outside oil and gas giants like OMV, Beach and Todd Energy in New Plymouth to highlight our community's opposition to their agenda of drilling us into extinction. We will keep pushing back against this government's mining agenda. Seabed mining, oil and gas drilling and coal extraction have no future in Aotearoa' concludes Signer. To join the Fossil Fool Fridays for Future pickets, meet 8am on Gill St outside oil and gas miners: OMV, Todd and Beach Energy with a banner or placard. The picket will visit the ANZ bank afterwards due to their investment in Bathurst Resources coal mining in the South Island.
Scoop
02-06-2025
- Politics
- Scoop
$200 Million For Oil And Gas An Affront To The Youth Of Aotearoa
'The government's budget announcement to use $200 million of taxpayers money to subsidise the oil and gas industry while we are in the middle of a climate crisis is completely out of touch with the global scientific community's call for drastic action to reduce greenhouse gas emissions' says Urs Signer, from the community group Climate Justice Taranaki. 'It is obvious that MPs like Shane Jones and our local New Plymouth MP David McLeod are stuck in the dark ages when it comes to taking urgent action on climate change and have demonstrated once again that they do not understand that there is no economy on a dead planet. For decades, the neoliberal agenda of resource extraction to accumulate more and more wealth for the rich and powerful has driven us into what is now called the sixth mass extinction. Driven by corporate greed, Jones, McLeod and the current government are quite happy to sacrifice the future of a liveable climate for coming generations for short-term profits for their mates in the oil and gas industry. It is an absolute affront to the youth of Aotearoa that this government is happily throwing their future away for fleeting economic gain.' 'We all know the fossil fuel industry has no future. The government needs to get real and invest in transition jobs like Jobs For Nature, rural health clinics, sustainable timber milling for local markets and fossil-free technology for small-scale local agriculture.' 'We will also be organising against Todd Energy's new application to explore for oil and gas off the coast of Kawhia or the government's proposed new offshore wells near Maui.' 'Climate Justice Taranaki has been holding weekly Friday pickets outside oil and gas giants like OMV, Beach and Todd Energy in New Plymouth to highlight our community's opposition to their agenda of drilling us into extinction. We will keep pushing back against this government's mining agenda. Seabed mining, oil and gas drilling and coal extraction have no future in Aotearoa' concludes Signer. To join the Fossil Fool Fridays for Future pickets, meet 8am on Gill St outside oil and gas miners: OMV, Todd and Beach Energy with a banner or placard. The picket will visit the ANZ bank afterwards due to their investment in Bathurst Resources coal mining in the South Island.
Newsroom
27-05-2025
- Business
- Newsroom
Climate solution all but buried before it begins
It is sold as a bold step into the future, a technological fix to one of the world's dirtiest problems. But is New Zealand's climate solution, its first carbon-capture and storage project, over before it begins? 'Having read the submissions from the various companies on the Government's regulatory plans, it just doesn't seem like it's going to happen in the next four-and-a-half years before 2030,' RNZ's climate correspondent Eloise Gibson tells The Detail. 'Maybe after that, but I can't see it happening at a scale that's going to take the pressure off, in terms of having to cut our emissions. It's going to be one of the things in the Swiss army knife, I hope, but we are not going to be putting it out in the next couple of years.' The project, led by Todd Energy and backed by the Government, aims to capture carbon dioxide from industrial processes and inject it deep underground in Taranaki, at the Kapuni gas field, locking it away for centuries. The start date has been pencilled in for around 2027, and from then until 2030 it is expected to store a million tonnes of CO₂, with a further almost million tonnes stored over the following five years. It's a big part of the Government's broader plan to meet its legal obligations to cut emissions by 2030 – about a third of the carbon savings needed. But Gibson tells The Detail the project's future is now uncertain unless Todd Energy gets 'more money or less liability or a combination [of both]'. 'There is a whole raft of things that have changed, one is the carbon price is low compared to other countries … then there is the issue of the liability regime, so if there is a leak 15 years after you have filled up a field and closed it off, who is responsible for that … so there is wrangling going on around the rules.' Globally, carbon capture and storage has a mixed track record. Some projects, like Norway's Sleipner, have stored CO₂ safely for decades. Others have failed spectacularly, costing billions and storing less than promised. New Zealand's unique geology – riddled with seismic faults – adds a layer of risk. And if CO₂ does leak, it could undo years of emissions gains and pose unknown threats to groundwater and ecosystems. Then there is the fear that the method becomes a get-out-of-jail-free card for polluters. But putting that aside, if the project does not go ahead in New Zealand, what replaces it so the Government can meet its emissions targets? 'I approached the climate minister, and he did stress that the Government takes an 'adaptive approach' with their emissions budget, which I guess means they can pivot if something doesn't pan out,' Gibson says. 'But given they have cut a bunch of Labour-era policies that could have given them about a million tonnes of savings – which is what they need if this falls over – they are not likely to start these up again and there's absolutely nothing on the table that I have seen that would fill that gap, that this Government would support, so it does give them a problem.' Ultimately, Gibson says she wants the Government to use 'everything in the toolbox'. 'I don't think this is a time to be ruling out solutions. But it's also not a time to be distracted by expensive solutions, when we have other stuff that we know works, right there.' Check out how to listen to and follow The Detail here. You can also stay up-to-date by liking us on Facebook or following us on Twitter.
RNZ News
27-05-2025
- Politics
- RNZ News
Climate solution all but buried before it begins
Photo: 123RF It is sold as a bold step into the future, a technological fix to one of the world's dirtiest problems. But is New Zealand's climate solution, its first carbon capture and storage (CCS) project, over before it begins? "Having read the submissions from the various companies on the government's regulatory plans, it just doesn't seem like it's going to happen in the next four and a half years before 2030," RNZ's climate correspondent Eloise Gibson tells The Detail . "Maybe after that, but I can't see it happening at a scale that's going to take the pressure off, in terms of having to cut our emissions. It's going to be one of the things in the Swiss army knife, I hope, but we are not going to be putting it out in the next couple of years." The CCS project - led by Todd Energy and backed by the government - aims to capture carbon dioxide from industrial processes and inject it deep underground in Taranaki, at the Kapuni gas field, locking it away for centuries. The start date has been pencilled in for around 2027, and from then until 2030 it is expected to store a million tonnes of CO₂, with a further almost million tonnes stored over the following five years. It is a big part of the government's broader plan to meet its legal obligations to cut emissions by 2030 - about a third of the carbon savings needed. But Gibson tells The Detail the project's future is now uncertain unless Todd Energy gets "more money or less liability or a combination [of both]". "There is a whole raft of things that have changed, one is the carbon price is low compared to other countries ... then there is the issue of the liability regime, so if there is a leak 15 years after you have filled up a field and closed it off, who is responsible for that ... so there is wrangling going on around the rules." Globally, CCS has a mixed track record. Some projects, like Norway's Sleipner, have stored CO₂ safely for decades. Others have failed spectacularly, costing billions and storing less than promised. New Zealand's unique geology - riddled with seismic faults - adds a layer of risk. And if CO₂ does leak, it could undo years of emissions gains and pose unknown threats to groundwater and ecosystems. Then there is the fear that CCS becomes a 'get-out-of-jail-free card' for polluters. But putting that aside, if the project does not go ahead in New Zealand, what replaces it, so the government can meet its emissions targets? "I approached the climate minister, and he did stress that the government takes an 'adaptive approach' with their emissions budget, which I guess means they can pivot if something doesn't pan out," Gibson says. "But given they have cut a bunch of Labour-era policies that could have given them about a million tonnes of savings - which is what they need if this falls over - they are not likely to start these up again and there's absolutely nothing on the table that I have seen that would fill that gap, that this government would support, so it does give them a problem." Ultimately, Gibson says she wants the government to use "everything in the toolbox". "I don't think this is a time to be ruling out solutions. But it's also not a time to be distracted by expensive solutions, when we have other stuff that we know works, right there." Check out how to listen to and follow The Detail here . You can also stay up-to-date by liking us on Facebook or following us on Twitter .
