It's fair to be concerned when you read stories such as this. But you have to put it into context:
One: The NZ government talks a very different tune to that of the conservative government in Canberra. Don't forget the ScoMo held up a lump of coal in Parliament and told people not to be scared of it. Can you see Jacinda Ardern doing that?
Two: There are very clear warnings from a wide range of organisations that Australia - and NSW and Victoria in particular - risk rising power prices if we don't adopt gas as a transition fuel. Ask yourself what's closer: 100% green power generation or an election with rising prices hurting consituents?
Three: Back to Jacinda because I feel like this point really needs reinforcing. Three years ago she slapped a ban on offshore exploration, so this news isn't a surprise:
But her opposition, futile as they are, sounded a lot like Keith Pitt does - and he's in power and he is making the decision on PEP 11:
BPH Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
