web analytics


Written By: - Date published: 11:30 am, June 16th, 2009 - 71 comments
Categories: employment, national/act government - Tags:

National’s line is that they are doing ‘everything possible save jobs and keep people in employment’. Are they living up to the promise?

Not even close.

The other week Paula Bennett was asked in the House how many jobs had been saved by initatives from John Key’s ‘Jobs Summit’. She proudly replied ‘223’, then corrected herself ‘303!’.  303 in three months. Meanwhile, at least 1000 extra people a week are joining the dole queue. In fact, the government has fired at least five times as many people as the number of jobs as it claims to have saved. The economy lost 26,000 jobs in the March quarter and probably lost at least that many in the last quarter.

Let’s put those numbers in perspective.

Over-promise and under-deliver, that seems to be this government’s motto.
-Marty G

71 comments on “Perspective ”

  1. Redbaiter 1

    Well, the whole point of course that the government can only ever generate real jobs by reducing the number of pretend jobs.

    In other words, making itself smaller. I guess in that case you could say the Nats are on the right track. Eventually, the jobs will come.

    Maybe what Marty is really pissed off about is that he wants everyone to work for the gummint.

    That’s right isn’t it Marty?

    BTW, what’s that called again, and can you tell me where that has ever led to prosperity??

  2. Redbaiter 2

    Comment deleted by Redbaiter.

    ( I promise I won’t use gum*int any more)

    But why why why “gum*int”???

    What’s wrong with that????

    [lprent: nothing in itself, except it got over-used by trolls and therefore became a signature of trolls.
    Once something becomes a spam signature then it is there forever protecting you against the old spam engines.]

  3. What’s interesting is that many overseas countries are starting to see signs of “green shoots”, with government stimulus packages kick-starting manufacturing and creating a bit of demand.

    Meanwhile, our gently gently policies are leading to no signs of recovery and things looking like they’re getting worse and worse.

  4. Zaphod Beeblebrox 4

    Now that interest rates have shown that they can’t go any lower, stimulus packages are the only means of countering the money that was sucked away by the GFC.

    Cutting government spending is the last thing we should be doing.

  5. Liam 5

    If the national government werent cutting jobs and increasing poverty in new zealand they wouldnt be much of a national government would they

  6. It must be recognised that New Zealand has taken a very different approach to combating this recession than most other developed world economies around the world. Australia, the USA and the UK (to a lesser extent) have all embarked heavily on a borrow and spend economic stimulus approach to getting demand going again. New Zealand has approached things quite differently, with the budget doing everything it can to minimise increasing debt.

    Now we can argue the pros and cons of the different approaches from an ideological point of view until we’re all blue in the face, but the reality is that we don’t yet know which approach is going to be more successful. However, TIME WILL TELL.

    I just wonder whether the fact that other economies do seem to have having “green shoots” whereas things are still looking pretty shit for NZ is the first sign that perhaps we were wrong and the rest of the world was right.

    In my opinion this will be the key political issue for the next couple of years: National deciding to take quite a different approach to getting us out of the recession to the approach of overseas countries, and whether that has worked or not. Personally, I’m not confident that it will work.

    • Walt 6.1

      Recent figures from Australia show that their unemployment fell and their economy grew.

      • jarbury 6.1.1

        I think the Australian unemployment figures were seen as a bit of a blip, or perhaps they are a sign that Aussie’s stimulus is working.

      • Merlin 6.1.2

        Actually, Aussie unemployment fell from in March 5.7% to April 5.3% then went up to 5.7% again in May

      • GC Martin 6.1.3

        no surprises whatsoever in the services-egocentric swap economies… wot a jolly chap you are..

  7. Pat 7

    The question of what the Govt has done to create jobs – off the top of my head:

    – Roading projects including Waterview
    – Home insulation.
    – Cycleway.
    – Waterfront redevelopment.
    – Increased police numbers.

    Even small projects like juvenile military style programs create jobs for someone.

    It will be hard to measure the precise numbers of “jobs saved” but if unemployment rate stays significantly under Treasury forecasts, then you can credit the government with doing well.

    • Merlin 7.1

      cycleway – lol.

      In case you missed it Pat, not one of those programmes you mention have started yet (even the additional police currently being recruited are funded out of the 2008 Budget). Meanwhile, the jobs keep on being lost.

    • Maynard J 7.2

      Home insulation production and installation is going full-tilt at the moment, you are right there. In fact, you could say you are onto something.

      For a relatively small investment, the government has stumulated demand in an area that provides social, economic and environmental benefits worth many times the initial input.

      Why would the government do more like this? New Zealand chose a brighter future, but failing to pick up on opportunities like this looks positively…dim.

  8. – Roading projects including Waterview

    Spending on roads is one of the lowest “jobs-per dollar” returns you can get for economic stimulus.

    – Home insulation.

    The government wanted to cancel this. Basically a Green Party initiative

    – Cycleway.

    LOL. How many jobs has this saved?

    – Waterfront redevelopment.

    The government spent $20m on buying a half-share of the Queens Wharf. I dont’ see how that has generated any jobs. If any jobs will be generated it will be through council spending on actually doing something with the wharf.

    – Increased police numbers

    Surely off-set by huge cuts in other public sector employment.

    Compare this to the Greens New Deal, which calculated that the policies in that document (in particular the housing policies) would save around 40,000 or so jobs. 28,000 jobs saved in the construction of a few thousand state houses ALONE.

  9. Pat 9

    Jarbury – the point is, all those projects will create jobs. Unless you can somehow explain to me that they won’t.

    The offsets will come from job losses in the public sector and the Auckland council amalgations etc.

    In the wash-up, the measurement will be unemployment actuals vs treasury forecasts.

    • jarbury 9.1

      I’m a big fan of the Cycleway, a big fan of the Insulation package, a big fan of the government buying half of Queens Wharf and so forth.

      However, it seems like a bit of a drop in the bucket. One has to ask “are we really doing all we can?” and “what more could we do?”

      I think there is more the government could be doing to protect jobs, and the Greens New Deal pretty much nails it (I wish Labour would come up with some sort of equivalent).

      Our conservative calculations are that this package would save or create almost 18,000 jobs (FTE for 1 year) directly and almost 43,000 in all. These calculations exclude the 40% extra jobs from investing in transport efficiency instead of motorways. Other benefits are indicated here, but we have not included the very substantial saving on unemployment benefit almost half a billion dollars in relation to 42,602 jobs.

      Yes there’s a cost, but it seems relatively small:

      The measures suggested in this stimulus package are a first bite at the Green New Deal apple. They represent a range of measures totalling $3.3 billion over 3 years, along with a shift in the direction of committed transport funding. This is about 0.5% of GDP and small compared with the stimulus packages of other countries.

    • Zaphod Beeblebrox 9.2

      These jobs are off in the never never. The cycleway funds won’t be committed until later in the year, the home insulation funds are still two months away and who knows when Waterview will get going.
      Whilst I applaud all these initiatives and lets see more (all of them have some merit), the time for action is now, not next year.
      By then 1/2 our skilled workforce will be over the ditch where they have come up with ideas to try and do something about the money that was sucked up by Citigroup, AIG, BoA and the rest.

  10. Pat 10

    With respect “the time for action is now” is just a slogan. Any initiative to create jobs requires some degree of planning etc before they can start. Otherwise you are suggesting that there is a whole lot of things the government can do today (Tuesday) that will create jobs tomorrow (Wednesday).

    Heck, even the “planning” stage creates or maintains jobs (even public sector jobs) surely!

    • Merlin 10.1

      They’ve had six months Pat and there’s only one signficant job creating programme even in the pipeline, the housing insulation package which might create a couple of thousand jobs (better than nothing) and is good sense, and they had to get the Greens to come up with that.

  11. jarbury 11

    Pat, as a planning consultant worried about my future employment, I can assure you there are plenty of jobs in the planning of projects too!

    Edit: Just to elaborate, it seems like I’m agreeing with you on this rather than disagreeing.

  12. Pat 12

    Surely what happens in a global recession like this one, is that it causes sea-change shifts in employment. Jobs in some areas become obsolete e.g. manufacturing of large cars, and new jobs open up in other areas.

    In my background of banking/finance (once one of the safest jobs of all) staff numbers are reduced/capped and few new jobs are available.

    The reality is that in the current climate having a job is better that waiting for the dream job. Our grand-parents survived the depression by doing whatever it takes to get their family through. That is the lesson for our generation right now, although we can be thankful that we won’t even get close to their levels of hardship.

    • jarbury 12.1

      Yes, and that’s what the Greens New Deal is all about. Investing, and creating jobs, in green parts of the economy that will come into their own in the next few decades, that can respond to peak oil and climate change and so forth. In some cases it’s not even about spending more money, but rather shifting money from investing in outdated areas (motorway building) to areas that have a mind to the future (public transport investment).

  13. Pat 13

    “…outdated areas (motorway building)…”

    We have talked about this before, but this is where I think the Greens create a disconnect. I fully expect to be driving a car for the rest of my life. I don’t expect that it will always run on petrol.

    The Greens (seem to) create a vision of us all living in a modern day Middle Ages village. The true message might be good, but it gets lost somewhere on the way to the masses.

    • jarbury 13.1

      I agree Pat. Often I hear Russel Norman simply saying “we should spend more on public transport” and I cringe a bit. Not because what he’s saying doesn’t make sense, but he should be suggesting actual alternatives.

      If he says the $1.4 billion that will be spent on the Waterview Connection should instead be spent on “public transport” people just think of a few more buses and some new bus stops, and really nothing much at all. If he says “for that same price you could get a CBD rail loop!” then the message is better.

      A choice between a road tunnel and rail tunnel. I’m sure there are costs and benefits each way for both options, but in my opinion it’s a no brainer the CBD rail loop would be a better option.

      I am trying my hardest to improve “the message” with regards to transportation through my blog: http://www.transportblog.co.nz

  14. Ianmac 14

    National have apparently created few jobs and yet we are surviving (deeply concerned for those who have lost their jobs though) Is there any evidence that the Nats could get away with this BECAUSE the Labour Govt left us in a very strong position?

  15. Zaphod Beeblebrox 15

    Remember the first thing Nats did once elected was to legislate tax cuts. If they had sunk that money into more of the projects such as those listed maybe we wouldn’t be having this discussion.

    I know conservatives argue about how good tax cuts are to the economy. If properly thought through, I would argue that this money ends up in the economy anyway after being directed to much more socially and economically beneficial purposes.

    • cocamc 15.1

      but didn’t the National tax cuts get fully funded from changes to Kiwisaver. so that money would not be available unless the same Kiwisaver changes were made

      • Zaphod Beeblebrox 15.1.1

        Good point. It shows that there are lots of ways of funding projects, reductions in super benefits, taxation or cutting other areas. In the current climate, there are good arguments for spending on projects like home insulation where the benfits outweigh the costs.

        • jarbury

          In the same way that the money went from KiwiSaver to tax cuts, it could have also gone from Kiwisaver to Economic Stimulus package.

          Which one would have been more effective in combating the recession?

          Was that question even asked, or are tax cuts more ideological than practical?

  16. Shona 16

    Would please explain why you fully expect to be driving a car for the rest of your life? And give us your approximate age group ?Why you think the average NZ wage earner will be able to afford and maintain technology not created in NZ?And what mode of transport you expect your offspring or future generations will use?
    The only disconnect in regards to the Greens message is the failure of the seriously uninformed NZ masses to grasp the reality of the enormity of change we are experiencing.
    Believe me it will still be happening when you turn up ya toes.

    • Galeandra 16.1

      ‘The only disconnect in regards to the Greens message is the failure of the seriously uninformed NZ masses to grasp the reality of the enormity of change we are experiencing.
      Believe me it will still be happening when you turn up ya toes.’
      Hooray and atta girl.
      The paradigm has shifted. There’s a lot more to be done about this so- called ‘recession’ than to think we can spend aka consume our way out of it. (Of course, Labour might like this recession- it’s been referred to as an L shaped one)
      Remember the zero-growth ideal of the old Values Party days?
      The same discourse is now current in a lot of mainstream blogs and is well embedded in academia also. Have a look at Oil Drum for example. Why oh why did Labour buckle so easily? Nine wasted years.

  17. Pat 17

    Shona I am 42. I expect to be still driving at 85.

    One of the benefits of globalisation is that when the collective focus goes on addressing certain issues, technological changes can happen very fast. The chinese have developed a low cost electric car with can run 100km on the battery. GM have developed a hydrogen car. I’m not sure why people think old inventions like trains and bicycles will be the future of transport.

    I don’t know what sort of car I will be driving at 85. But when I was born there wasn’t a mobile phone, the internet, a home PC, a CD or even a microwave oven. If I could have predicted what technological changes were going to happen, I would be a very rich man.

    • jarbury 17.1

      Pat, just because we will still be driving in 40 years time doesn’t necessarily mean we will need MORE roads. It does mean we will need to keep our roads, but surely we will only need MORE roads if we have more cars on them.

      Traffic levels on state highways around NZ fell last year by around 5%, largely due to rising oil prices (most of the decline was in June-September when the prices were really really high). The government is planning to spend $10.7 BILLION on building more state highways in he next decade, even though use of them is declining (and looks like it will decline further).

      How sensible is that? Surely that $10.7 billion could be spent in a more “forwards looking” manner?

    • Zaphod Beeblebrox 17.2

      No matter what technology you choose in the foreseebale future. it will still be a lot more expensive than $1.75/litre oil.
      New technology is still at least 15 years away.
      You may be right though by the time you are 85 if may well be cheap to drive.

      • jarbury 17.2.1

        That’s an excellent point. There is simply no replacement for oil in terms of “bang for your buck”. Electric cars are one option, but there are issues relating to the scarcity of some of the metals that go into the batteries, and also that you need to generate a lot of additional electricity to fuel the car fleet.

        In any case, fully electric cars are unlikely to become particularly affordable to your average person for another 10-20 years. What do we do in the meanwhile?

        • Pat

          “New technology is still at least 15 years away.”

          I disagree, but we will have to wait and see. With the pace of technological change, 5 years is a long time. Compare your mobile phone to the one you had 3 years ago and the one you had 3 years before that.

    • Shona 17.3

      How many 85 year olds do you know who drive?
      The techno fix fairy is not going to sprinkle her fairy dust in NZ. The Chinese electric car is not suitable for the NZ environment. We do not have any policies or planning or infrastructure to support the techno fix fantasy. Chinese engineering is not that great. They have alot of catching up to do and are not noted for their competence or honesty. Better to look to India and the compressed air vehicle. We have no policies for hydrogen development, biofuel or the infrastructure to support the electric car. The car and battery the Chinese have they bought from California when it was destroyed there. We are in a state of chaos the economic system is in tatters and we have visionless incompetent leadership in this country. How many semi-trailers run on hybrid engines in NZ ?and this is all going to happen in 15 years. Get a grip.! You didn’t answer my question . How is the average NZ wage earner going to pay for this imported technology.?
      None of the supposed technological marvels you have listed have ever seemed remarkable to me and I am a lot older than you. I have always read science fiction tho’. CD players were first marketed in Aussie in 1977.That’s 30 years ago.By way of comparison and are fast becoming obsolete.We do no research into new technology in NZ that benefits the public at large and have not done so for nearly 30 years. Our best and brightest leave the country. There is no government investment in Rand D large enough to help us catch up. You are pissing in the wind.!

      • Pat 17.3.1

        You asked a lot of questions. I answered many of them, and honestly. May I suggest that if you want someone to answer your questions or generally converse on the blogosphere, you should refrain from using remarks like

        “Get a grip!”
        “You are pissing in the wind!”

        • Pat

          Bugger it, I’m gonna answer your questions:

          “How many 85 year olds do you know who drive?”

          3 (of my direct relatives). When I’m 85 I expect there will be a lot more, since we will be generally fitter and healthier and working longer.

          “How is the average NZ wage earner going to pay for this imported technology.?”

          I suspect this question leads onto some sort of doomsday scenario I’m not aware of. But like all technology, once it is massed produced economies of scale kick in, and the price will be set relative for its biggest target market i.e. middle class income earners around the world.

      • Zaphod Beeblebrox 17.3.2

        We did make some steps toward biofuels but they seemed to disappear for some reason at the end of last year. Thats right, it was about the same time we decided we needed an inquiry into whether global warming is man made.

      • GC Martin 17.3.3


        not that I would disagree with much of the tenor and tone of what you are saying, it is worth pointing out how sustainable 8-gauge and DIY mentality is.

        on a future front I know for certain of the solar-powered airplane.. a present flyer has 200’+ wingspan to accomodate 11,000+ PV cells.. it goes.. and well from all the latest accounts, albeit requiring wide runways..

        a large R&D expenditure – government or private, or both – will achieve little without the necessary will to succeed.. and in my own experience recognition of one’s poverty, as opposed to wealth, is the greatest promoter of better. Of all, by all and for all.

        keep up the good work..

  18. Pat 18

    “MORE roads” – I think you could more accurately define the major projects as making existing roading networks more efficient, such as Waterview to complete the Western Ring Route. The spin-off is that they also improves public transport systems such as bus lanes, bicycle routes, rail park’n’rides etc. .

    • jarbury 18.1

      The Waterview Connection is “another road”. It doesn’t simply make an existing network more efficient. It’s not even the widening of an existing road – it is the building of a new road. So therefore it most definitely would be classified as “more roads”.

      And from what I’ve read, there won’t be any public transport improvements from the Waterview Connection. There may be a slight improvement to cycle-lanes, but that work could be done anyway without having to spend $1.4 billion.

      • Pat 18.1.1

        “It doesn’t simply make an existing network more efficient”.

        Except the obvious one – the Western Ring Route.

        • jarbury

          Pat, I do see your point to some extent here – that the full benefits of the Western Ring Route aren’t properly realised until the whole thing is built. But the same could be said for Auckland’s rail system – the full potential of the system, most particularly the higher frequencies that spending $1b on electrification will allow, cannot be realised until the CBD rail loop is built. This is because the huge choke-point that is Britomart.

          So it’s the same argument really, that both projects are needed to fully realise the efficiency of the network. That still brings us back to comparing which one might be a smart use of $1.4 billion, with oil prices rising, traffic volumes falling and rail ridership booming.

      • felix 18.1.2

        “There may be a slight improvement to cycle-lanes…”

        Yay, that should pull us out of recession fairly aggressively.

  19. Jenny 19

    The left too, has a role to play. The unions in particular should be forcing employers to consider their workers interests over their shareholders interests. Unions should be demanding that empployers take up the nine day fortnight option, before allowing lay offs, and back this demand up with industrial action if need be.

    Union inaction in the face of this crisis could lead to their irrelevance.

  20. Ianmac 20

    It is easy to see why some of us in the South Island perceive Aucklanders as those folk who only see things only from their point of view. The rest of us have big problems too ya know. (We have no traffic lights in our town. Should we get some? HaHa.)
    And Pat remember that National had some years to plan let alone the warnings from a Recession noted from March 2008. I was hoping that they were poised with the answers rather than just wondering what to do next.

    • Pat 20.1

      Ianmac – it’s time we let you know that we have cast your island adrift into the Southern ocean. Let us know when you bump into Chile.

    • jarbury 20.2

      Good points Ian. Generally I do not oppose the spending of transport money on roads in small towns and rural areas – because there is no alternative. However, in Auckland there are alternatives.

  21. Zaphod Beeblebrox 21

    You have a lot of faith in technology. If you know of a cheap new alternative to oil tell me so I can invest my money.

  22. Pat 22

    Zaphod. Just give me your money and I’ll invest it for you.

  23. Anita 23

    Marty G,

    I know it pisses you off when I pull you up on accuracy, but I think your numbers are bogus again.

    26,000 jobs lost in March quarter. Nope, the stats you link to don’t say that. The only sensible way to use the Household Labour Force Survey is seasonally adjusted – otherwise Dec->Mar always shows a huge drop which isn’t actually a loss of jobs, it’s a seasonal peak of student returning to study and seasonal demand decreases in horticulture and agriculture (and possibly tourism?).

    March 09 shows 26k fewer employed people than Dec 08, but that is 17k more than Mar 08. Mar 08 shows 22k fewer jobs than Dec 07. So the strongest thing you could possibly say is that the loss is 4,000 higher than last year. That is, you seem to be able to justify 4,000 not 26,000.

    Well of course you could misuse the stats and claim 26,000, but then you’d be behaving just like an untrustworthy political spinmeister.

    1,000+ increase in the dole every week. All I can see in the link you gave was that there was a single week of a 1,250 increase which, even Goff says, was “the biggest increase in the number of people going on to the dole in any week since the 1990s”. So you seem to have generalised from one atypical week of 1,250 a week to 1,000+ every week, without any evidence that I can see.

    In fact, if you use the HLFS figures that you linked to there was a 6,000 absolute increase in “unemployed” in the Mar 09 quarter, which looks like 462 per week. BTW that number is not seasonally adjusted, the loss was 6,000 the previous year – so no higher increase in people listing as unemployed in 2009.

    (Of course HLFS doesn’t give the number “on the dole”, but in the absence of any better stats from you it’s a decent sanity check.

    Finally, the graph: even if your numbers weren’t bogus, plotting a weekly rate, an absolute number and a quarterly number on the same graph is somewhat problematic.

    Look, I’m not saying that the recession isn’t happening, or that people aren’t losing their jobs, or that National is doing enough. But bogus stats are just bogus stats, and they don’t help.

  24. Shona 24

    Pat, becoming irritated at my perfectly valid questioning of your rosy coloured scenario is no way to communicate on the blogospere either.
    My points could be better made for sure but I loathe uninformed Pollyanna’s.
    I have had it with constant put downs of the Greens by the uninformed. NZ is totally unprepared for the change to a sustainable economy. we are a backward overpriced little country at the edge of the world and have our collective face firmly planted between our buttocks and have been in that position for a long time. i would happily give you a list of reading material to back up this view but I am beyond caring about the education of environmentally ignorant. I do not hold expressly doomsday views but global warming and peak oil are not eco nazi wet dreams they are are happening now.

    • GC Martin 24.1

      hi again shona..

      a small point to aid clarify the use of ‘peak oil’. If by its use you mean an actual or coming soon shortage of so-called sweet light crude oil then fine, I have no problems with this belief.

      If, however, the term is used to suggest a shortage of oil pers̩ then I point out that this is definitely not the case. There is much Рhugely Рoil in the earth. It is mainly heavy oil Р>API 23 for example Рand this is the stuff fossil fuel industries shall be reliant upon in the future. Yes, heavier means dirtier combustion products unless refiners undertake less profitability from greater clean-up processing and expenditures.

      For your information the Canadian tar sands extractions are even dirtier than heavy oils. Yet exceedingly profitable. which, of course, is exactly why they are being developed prior to heavy stuff.

      Time may yet come to pass when planetary concerns have gotten to folks even so much as those who profit from the works. Though not, I daresay, without knowing their minds as well as they claim to do…

  25. mike 25

    Bring back Clinton Smith at least his totally skewed, partisan and out of date numbers where semi-believable

  26. Shona 26

    GC according to Jeremy Leggat in Half Gone the Canadian tar sands are not all that profitable because of the vast amounts of fresh water required to process them. There isn’t enough water according to him to process the majority of the tar sands. And yes it’s filthy. Peak oil is primarily a reality because of the cost of production not the amount of fossil fuel left in the globe.And also because of our profligate use of existing easily accessible supplies.
    Anyway it wasn’t my intention to hijack a thread with one of my hobby horses.
    I reiterate the environmentally ignorant are a wind up for me. Must learn not to bite so readily.

    • GC Martin 26.1

      let’s say I’m curious at Leggat’s costings — are these actual or treated as commercially unaccountable ‘externalities’..?

  27. daredtodream 27

    There’s one BIG assumption underpinning arguments of “job protection”: people are employed in the most allocatively efficient occupations for the economy as a whole now and into the future.

    I would rather Government helped enable the market/economy and, where appropriate, directly intervened or supplied goods/services to help the market/economy reach allocative efficiency (bearing in mind we’ll never reach full allocative efficiency).

    Cutting certain public sector jobs is necessary but where appropriate Government should aid and assist affected workers move into more productive roles. That from a public servant – not some commentator with no public sector experience.

  28. jarbury 28

    Indeed Shona. The issue with the tar sands is partially environmental – that they create a heck of a lot of CO2 emissions through their extraction and refinement. But, as you say, probably a bigger issue is simply that they’re not scaleable due to the water required. By that I mean there may be billions and billions of barrels of oil locked up in the tar sands, but there is a fairly low maximum extraction rate for the area.

    So it’ll give us oil for a long time, it just won’t give us much oil at any one time. That’s the main issue with peak oil – there comes a point where you just can’t increase your production levels any more. Arguably, this was reached in 2005 (as I’m pretty sure oil production hasn’t increased beyond 2005 levels).

    • GC Martin 28.1

      hi there..

      your first para has me think be that as it may re scaleleability etc, but I would point out how Canadian tarsand oil producers are planning a two-to-three-fold production increase over the next year or so..

      the drive for this appears factored by:

      1. can’t drill offshore US (to any needed extent anyway);
      2. prices to sustain high cashflows

      this latter point requires acceptance by consumers/markets that baseline economics shall reward ‘scarcity’. Certain hedgefunds are working this.. which likely explains individual exponents’ donation capacity to earn community brownie points by which the so-influenced become fodder to their fees pool.

      Which you’ll recognise has bugger all to do with production, field jobs et cetera. And yet a great deal to do with hijacking economics in lieu of monetized manipulation/ whose era just fell over.

Links to post

Recent Comments

Recent Posts

  • Pause on Quarantine Free Travel from New South Wales extended
    The pause on Quarantine Free Travel from New South Wales to New Zealand will continue for a further 12 days, COVID-19 Response Minister Chris Hipkins says.  There are now 36 recent community cases of COVID-19 in New South Wales – including four not yet linked to the existing outbreak that ...
    BeehiveBy beehive.govt.nz
    8 hours ago
  • Address to the INZBC 7th International Summit 2021
    Day 2, India New Zealand Business Council 7th International Summit, Auckland (speech delivered virtually) Tēnā koutou katoa, Namaste, Sat sri akal, Assalamualaikum  Good morning and good evening to you all, Thank you for this opportunity to be with you virtually today. The India New Zealand Business Council has put together ...
    BeehiveBy beehive.govt.nz
    11 hours ago
  • Government commits $4 million additional support for flood-affected Canterbury farmers
    Prime Minister Jacinda Ardern today announced the Government is injecting a further $4 million into relief funding to support flood-affected Canterbury farmers who are recovering from the damage of a historic one in 200 year flood. An additional $100,000 will also be provided to the Mayoral Relief Fund to support ...
    BeehiveBy beehive.govt.nz
    15 hours ago
  • Appointment of Queen’s Counsel
    Attorney-General David Parker today announced the appointments of 10 Queen’s Counsel.   The newly appointed Silks are:   Auckland – Lynda Kearns, Stephen McCarthy, Ronald Mansfield, Alan (Fletcher) Pilditch, Davey Salmon, Laura O’Gorman  Wellington – Greg Arthur, Michael Colson, Victoria Heine  Christchurch – Kerryn Beaton   “The criteria for appointment recognise that ...
    BeehiveBy beehive.govt.nz
    15 hours ago
  • Prime Minister congratulates victorious Black Caps
    Prime Minister Jacinda Ardern has congratulated Kane Williamson and the Black Caps for their victory over India in the final of the inaugural Cricket World Test Championship. “The Black Caps have made New Zealand proud. This was a masterful performance from a team at the top of their game and ...
    BeehiveBy beehive.govt.nz
    19 hours ago
  • Further action to tackle cervical cancer
    Parliament has taken another step to help reduce the number of women who develop cervical cancer, with the Health (National Cervical Screening Programme) Amendment Bill passing its third reading. “I am very pleased by the robust consideration this Bill has received. It will ensure technology allows healthcare providers to directly ...
    BeehiveBy beehive.govt.nz
    19 hours ago
  • $500 million seized from gangs and criminals
    A significant Government milestone has been reached with $500 million in cash and assets seized from gangs and criminals by Police over the past four years, Police Minister Poto Williams announced today. “During our last term in office, this target was set for 2021 with Police as part of our ...
    BeehiveBy beehive.govt.nz
    20 hours ago
  • Congratulations to the Black Caps – World Champions
    Minister of Sport and Recreation Grant Robertson has congratulated the Black Caps as the deserved winners of the inaugural World Test Cricket Championship. “The Black Caps have pulled off a remarkable and deserved win in the World Test Championship final against India.  The final is the culmination of two years ...
    BeehiveBy beehive.govt.nz
    21 hours ago
  • Alert Level 2 in Wellington, Wairarapa and Kāpiti Coast
    Alert Level 2 measures are now in place for Wellington, Wairarapa and Kāpiti Coast to the north of Ōtaki, COVID-19 Response Minister Chris Hipkins says. These measures are precautionary, following the potential exposure of New Zealanders to a COVID-19 case from Sydney. The person visited a range of locations in ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Speech to the India New Zealand Business Council Summit
    5pm, Wednesday 23 June 2021 [CHECK AGAINST DELIVERY] Tuia te Rangi e tū nei Tuia te Papa e takoto nei Tuia te here tangata Ka rongo te pō, ka rongo te Ao Tihei Mauri Ora   Introduction Namaskar, tēnā koe and good evening. Thank you for your kind invitation to ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Financial support for caregivers widened
    Children’s Minister Kelvin Davis has welcomed changes that will make it easier for caregivers looking after children outside of the state care system to access much-needed financial assistance. The Social Security (Financial Assistance for Caregivers) Amendment Bill will also allow these caregivers to access further benefits previously unavailable to them. ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Agencies to have powers to secure maritime domain
    A Bill introduced to Parliament today aims to prevent serious criminal offending at sea, including transnational offending and organised crime, Foreign Minister Nanaia Mahuta announced. “Aotearoa New Zealand will be better placed to keep our maritime environment secure against threats like drugs trafficking, wildlife trafficking and human trafficking with the ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Critical support for New Zealand’s budding researchers
    Fellowships to attract and retain talented researchers in the early stages of their career, have been awarded to 30 New Zealanders, Associate Research, Science and Innovation Minister Dr Ayesha Verrall announced today. “I am pleased to congratulate these researchers, who will be receiving funding through the MBIE Science Whitinga Fellowship. ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Bill to stop taxpayers having to fund oil field decommissions
    The Government is preventing taxpayers picking up the bill for the decommissioning of oil fields, says Energy and Resource Minister Dr Megan Woods.  “After the Crown had to take responsibility for decommissioning the Tui oil field, it became clear to me that the current requirements around decommissioning are inadequate and ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Quarantine Free Travel from New South Wales to New Zealand to pause
    New Zealand’s Quarantine Free Travel from New South Wales to New Zealand will be paused while the source of infection of new cases announced in Sydney is investigated, says COVID-19 Response Minister Chris Hipkins. There are 10 new community cases of COVID-19 today in New South Wales, taking the Australian ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Milestone reached for Iwi Affiliation Population Counts
    Iwi affiliation data released today provides updated population counts for all iwi and addresses gaps in Māori data originating from the 2018 Census, says Associate Minister of Statistics Meka Whaitiri. “The release of the 2018 Iwi Affiliation Estimated Counts is a really important step, and I acknowledge the hard work ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Ngāti Rangitihi Claims Settlement Bill passes first reading
    Treaty of Waitangi Negotiations Minister Andrew Little welcomed Ngāti Rangitihi to Parliament today to witness the first reading of The Ngāti Rangitihi Claims Settlement Bill. “I know it took a lot of hard work, time and patience by all parties involved to reach this significant milestone. I am honoured to ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Speech to the Sustainable Healthcare and Climate Health Conference Aotearoa
    Mihi Tēnā tātou katoa Kei ngā pou o te whare hauora ki Aotearoa, kei te mihi. Tēnā koutou i tā koutou pōwhiri mai i ahau. E mihi ana ki ngā taura tangata e hono ana i a tātou katoa, ko te kaupapa o te rā tērā. Tēnā koutou, tēnā koutou, ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Infrastructure Acceleration Fund opening for business
    Criteria to access at least $1 billion of the $3.8 billion Housing Acceleration Fund (HAF), announced in March, is now available, and an invitation for expressions of interest will be released on 30 June, Housing Minister Megan Woods has announced.  “This is a key milestone in our plan to accelerate ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Bringing back the health of Hauraki Gulf
    New marine protection areas and restrictions on fishing are among a raft of changes being put in place to protect the Hauraki Gulf for future generations. The new strategy, Revitalising the Gulf – Government action on the Sea Change Plan, released today, draws on input from mana whenua, local communities, ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Speech to AI Forum – Autonomous Weapons Systems
    AI Forum New Zealand, Auckland Good evening and thank you so much for joining me this evening. I’d like to start with a thank you to the AI Forum Executive for getting this event off the ground and for all their work and support to date. The prospect of autonomous ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • New Zealand boosts support to Fiji for COVID-19 impact
    Aotearoa New Zealand is providing additional support to Fiji to mitigate the effects of the current COVID-19 outbreak on vulnerable households, Foreign Minister Hon Nanaia Mahuta announced today. “Recognising the increasingly challenging situation in Fiji, Aotearoa will provide an additional package of assistance to support the Government of Fiji and ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Round 2 of successful energy education fund now open
    $1.65 million available in Support for Energy Education in Communities funding round two Insights from SEEC to inform future energy hardship programmes Community organisations that can deliver energy education to households in need are being invited to apply for the second funding round of the Support for Energy Education in ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New Ngarimu scholarships to target vocational training
    Associate Education Minister Kelvin Davis today announced three new scholarships for students in vocational education and training (VET) are to be added to the suite of prestigious Ngarimu scholarships. “VET learners have less access to study support than university students and this is a way to tautoko their learning dreams ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Recognising the volunteers who support our health system
    Nominations have opened today for the 2021 Minister of Health Volunteer Awards, as part of National Volunteer Week. “We know that New Zealanders donate at least 159 million hours of volunteer labour every year,” Minister of Health Andrew Little said in launching this year’s awards in Wellington. “These people play ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Drug Free Sport supported to deal with new doping challenges
    Drug Free Sport New Zealand will receive a funding boost to respond to some of the emerging doping challenges across international sport. The additional $4.3 million over three years comes from the Sport Recovery Fund announced last year. It will help DFSNZ improve athletes’ understanding of the risks of doping, ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government support for South Auckland community hit by tornado
    The Government is contributing $100,000 to a Mayoral Relief Fund to support Auckland communities impacted by the Papatoetoe tornado, Acting Minister for Emergency Management Kris Faafoi says. “My heart goes out to the family and friends who have lost a loved one, and to those who have been injured. I ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Celebrating World Refugee Day
    World Refugee Day today is an opportunity to celebrate the proud record New Zealanders have supporting and protecting refugees and acknowledge the contribution these new New Zealanders make to our country, the Minister of Immigration Kris Faafoi said. “World Refugee Day is also a chance to think about the journey ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Face to face meeting delivers significant progress on NZ-UK FTA
    New Zealand and the UK have committed to accelerating their free trade agreement negotiations with the aim of reaching an agreement in principle this August, Trade Minister Damien O’Connor announced. “We’ve held constructive and productive discussions towards the conclusion of a high-quality and comprehensive FTA that will support sustainable and inclusive trade, and ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Government taking action to protect albatross
    New population figures for the critically endangered Antipodean albatross showing a 5 percent decline per year highlights the importance of reducing all threats to these very special birds, Acting Minister of Conservation Dr Ayesha Verrall says. The latest population modelling, carried out by Dragonfly Data Science, shows the Antipodean albatross ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Adoption laws under review
    New Zealand’s 66-year-old adoption laws are being reviewed, with public engagement beginning today.  Justice Minister Kris Faafoi said the Government is seeking views on options for change to our adoption laws and system. “The Adoption Act has remained largely the same since 1955. We need our adoption laws to reflect ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Wider roll-out of cameras on boats to support sustainability and protect marine life
    Up to 300 inshore commercial fishing vessels will be fitted with on-board cameras by 2024 as part of the Government’s commitment to protect the natural marine environment for future generations.  Minister for Oceans and Fisheries David Parker today announced the funding is now in place for the wider roll out ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Plan for vaccine rollout for general population announced
    New Zealanders over 60 will be offered a vaccination from July 28 and those over 55 from August 11, Prime Minister Jacinda Ardern announced today. The rollout of the vaccine to the general population will be done in age groups as is the approach commonly used overseas, with those over ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealand introduces Belarus travel bans
    New Zealand has imposed travel bans on selected individuals associated with the Lukashenko regime, following ongoing concerns about election fraud and human rights abuses after the 2020 Belarus elections, Foreign Affairs Minister Nanaia Mahuta has announced. The ban covers more than fifty individuals, including the President and key members of ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • NZ economy grows driven by households, construction and business investment
    The Government’s efforts to secure the recovery have been reflected in the robust rebound of GDP figures released today which show the economy remains resilient despite the ongoing impact of the COVID-19 pandemic, Grant Robertson said. GDP increased 1.6 percent in the first three months of 2021. The Treasury had ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Milestone 250th tower continues to improve rural connectivity
    The Government has welcomed the completion of the 250th 4G mobile tower, as part of its push for better rural connectivity. Waikato’s Wiltsdown, which is roughly 80 kilometres south of Hamilton, is home to the new tower, deployed by the Rural Connectivity Group to enable improved service to 70 homes ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Quarantine Free Travel pause with Victoria to lift on Tuesday
    Following a further public health assessment of the COVID-19 outbreak in greater Melbourne, New Zealand’s Quarantine Free Travel pause with Victoria has been extended to 11.59pm on Tuesday 22 June, COVID-19 Response Minister Chris Hipkins says. It has been determined that the risk to public health in New Zealand continues ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Prime Minister mourns passing of Dr Sir Ian Hassall
    Prime Minister Jacinda Ardern is mourning the passing of Dr Sir Ian Hassall, New Zealand’s first Children’s Commissioner and lifelong champion for children and children’s health. As a paediatrician Sir Ian contributed to a major world-first cot death study that has been directly credited with reducing cot deaths in New ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • APEC structural reform meeting a success
    APEC ministers have agreed working together will be crucial to ensure economies recover from the impact of COVID-19. Minister of Commerce and Consumer Affairs David Clark, chaired the virtual APEC Structural Reform Ministerial Meeting today which revolved around the overarching theme of promoting balanced, inclusive, sustainable, innovative and secure growth ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Digital hub to boost investment in forestry
    A new website has been launched at Fieldays to support the forestry sector find the information it needs to plant, grow and manage trees, and to encourage investment across the wider industry. Forestry Minister Stuart Nash says the new Canopy website is tailored for farmers, iwi and other forestry interests, ...
    BeehiveBy beehive.govt.nz
    1 week ago