Having done nothing as the oil majors closed down the Marsden Point refinery, the Ardern government is now belatedly moving into the market to ensure what it calls “supply resilience”.
Energy and Resources Minister Megan Woods says she wants “to strengthen NZ’s fuel sector” through a suite of initiatives to encourage more competition.
She doesn’t say why suddenly there should be a need for more competition, but implicitly there is criticism of the big petroleum companies for their high prices – as if government taxation wasn’t taking more out of motorists’ wallets than the actual cost of the petrol.
It’s rather like the Prime Minister saying bank profits are too high, while ignoring the government’s action in printing money during the Covid pandemic to ensure so much cash sloshing around waiting to be banked.
Continue reading “Government wants to make the Fuels Sector more resilient — but will this do it?”