"Legislation is expected to be rammed through Parliament this week after a blisteringly short select committee process. However expert evidence from those hearings have raised serious questions that deserve proper scrutiny," says Petroleum Exploration and Production Association of New Zealand (PEPANZ) CEO Cameron Madgwick.
"To ensure we have the best outcome possible, we’re calling on the Government to consider three crucial pieces of research before progressing the Bill.
"Independent analysis on the economic impacts should be commissioned. The Government dismissed their own advice saying it could cost the Crown around $7.9 billion in lost tax and royalties, but if anything this was an underestimate as it doesn’t consider the wider impacts on the economy.
"The Interim Climate Change Committee should be asked to investigate what impacts, if any, this will have on emissions.
"Finally, the Electricity Authority should also be asked to consider what impact this could have on our electricity supply and costs to households.
"Once this analysis is gathered, a better informed and evidence-based decision can be made and provide the basis of good quality consultation for those affected. The Government shouldn’t be afraid of proper scrutiny."