Nov 9 • 11M

Choosing cheaper diesel over faster climate cuts

Govt again chooses to delay climate emissions reduction move to avoid fuel price shock; Townhouse kings Williams Corp to cut 30% of staff; China's producer price deflation; New crypto collapse

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Bernard Hickey
The latest daily snapshot of the news, detail, insight and analysis on geo-politics, the global economy, business, markets and the local political economy for citizens and decision-makers of Aotearoa-NZ.
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TLDR: The Labour-led Government supported by the Greens declared a climate emergency two years ago and PM Jacinda Ardern said five years ago that climate change was her generation’s ‘nuclear free moment’, but her Government has again delayed action to reduce emissions to avoid an immediate increase in fuel prices.

Energy Minister Megan Woods yesterday quietly announced1 another one-year delay in forcing fuel companies to use biofuels until April 1, 2024, saying it avoided a diesel price rise of as much as 10c/litre. An earlier move would have cut emissions by several millions of tonnes by 2030.

Emissions reductions still not top priority: motorists don’t need any extra costs in the current cost of living crisis, said Megan Woods. File photo: Lynn Grieveson / The Kākā

Paying subscribers can read and hear more detail and analysis below the paywall fold and in the podcast above. I’ll also be updating paying subscribers with news expected on open banking and the Reserve Bank’s own review of covid-era monetary policy later this morning in the chat section of the Substack App, with more detail and analysis in tomorrow morning’s email.

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