The Kākā’s Journal of Record for Friday, July 12

Brown says 20% fall in gas reserves justifies reversal of drilling ban, but MBIE says that would lift emissions by 14.2mt; ACT MP lodges bill banning councils from considering climate in planning

Photo by Dominik Scythe on Unsplash

TL;DR: The top six announcements, rulings, reports, surveys, statistics and research around housing, climate and poverty in Aotearoa’s political economy in the day to 6:00 am on Friday, July 11 are:

1. Climate: Transport Minister Simeon Brown said in a release the Government's plan to reverse New Zealand's oil and gas exploration ban was further justified by new MBIE data showing a 20% fall in natural gas reserves over the past 12 months, with 44% of the reduction due to gas extraction and use.

2. Climate: MBIE released the Climate Implications of Policy Assessment (CIPA) for the Government's proposed repeal of the ban, estimateing it would increase CO2 emissions by 14.2 million tonnes by 2035.

3. Climate: ACT MP Mark Cameron announced he would lodge a new private member’s bill to “restore longstanding provisions to the Resource Management Act that prohibit regional councils from considering climate change as a factor in their plans.”

4. Climate: The Environmental Defence Society released a report recommending climate adaptation legislation.

5. Cost of living: Stats NZ reported selected price indices showing food prices dropped for the first time in almost six years.

6. Economy: ANZ’s Truckometer Index for heavy traffic, a a leading indicator of production GDP, fell 5.2% in June, its biggest monthly fall outside of the covid lockdowns, which “adds to the pile of indicators suggesting Q2 GDP could make for ugly reading,” said ANZ NZ Chief Economist Sharon Zollner.

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The Full Journal of Record in the day to 6:00 am on Friday July 12: