Every few years, since the 70s, they’ve promised the great New Zealand oil boom is coming. It ain’t going to happen. If there is lots of oil, it’s deepsea and expensive. And they haven’t found it in 40 years of looking. We have a worse production-consumption ratio now then the 80s.
If the foreign oil companies did hit the jackpot the currency would skyrocket, our domestic exporters would be made uncompetitive and would die leading to unemployment (oil doesn’t actually create many jobs) and making the government dependent on oil for its revenue, most of the profits would head offshore and we would become a petrostate. Our public policy, by necessity, would be all about keeping the oilers happy and the royalty revenue coming (bye bye environment and labour standards).
Be careful what your wish for.