Posts Tagged ‘great southern basin’

Local Bodies: Shell and the Great South Basin

Written By: - Date published: 12:31 pm, January 8th, 2014 - 170 comments

The Southland Times devoted the whole of the front page to celebrate Shell’s decision to do some exploratory drilling in the Great South Basin. The best scenario will be that they discover a sizable gas field similar to the one in Taranaki. Then royalties we will get are only 5% of the value of what is sold, almost 40% less than the OECD average AND we will have to pay full commercial rates to have any of it ourselves. The worst case scenario…. Well that is really bad and has no effective cover

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