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Too expensive to pump

Written By: - Date published: 10:30 am, November 16th, 2010 - 47 comments
Categories: Economy - Tags:

The International Energy Agency’s annual World Energy Outlook forecasts that by 2035 oil will cost $200 a barrel in today’s dollars. That’s not $200 during a price spike, that’s $200 as the new normal. The world entered recession when the price went over $100 in a spike during 2008. A permanent price of $200 a barrel is simply unaffordable.

What that price is telling us is that there is not enough oil to go around. But the experts are saying that the IEA is being far too optimistic in its outlook.

The big problem is that to arrive at ‘only’ $200 a barrel the IEA had to assume some remarkable things, the most remarkable of which was that in the next 24 years we will find and develop new oil fields with a production capacity equivalent to twice what Saudi Arabia currently produces. Iraq is predicted to more than double its output and Saudi Arabia to increase its by 50% – this despite the fact that oil producers failed to lift their production in reaction to the last great oil spike. Global oil output has been stagnant since 2004 but is meant to rise about 20% in the next 24 years (btw, the prediction for future output has fallen with each annual revision by the IEA this century).

So, $200 a barrel is very optimistic and higher total oil supply. Ludicrously optimistic, in fact.

The reality will be that the world economy will simply not be able to pay such a high price. Instead, there will have to be a long series of recessions to get oil demand down low enough that the price can drop to an affordable level. And in a world where the marginal barrel will be coming from lignite to liquids or deep drilling under the Arctic, even that ‘low-enough’ price will be eye-watering.

In the end, a lot of oil will remain in the ground because it is simply too expensive to extract.

47 comments on “Too expensive to pump”

  1. Lanthanide 1

    Checked out theoildrum.com the other day and they had the first summary of the IEA’s annual report.

    The biggest sore thumb in the lot was the graph where they showed conventional oil output completely flat up until 2035. That means new production is exactly equal to declines in existing fields. Lets stress this: *exactly equal*. How often does that sort of thing ever happen in real life?

    The conclusion is that the graph has been drawn to fit expectations of an everlasting oil bounty, and not to reflect the actual data.

    • Bored 1.1

      Lan, I mentioned what you pointed out on the graph below, you are right, its a crock from a pile of propagandists.

  2. Colonial Viper 2

    Actually there will be no new normal oil price IMO. Oil is going to experience massive cost variability over the next few years and that (in addition to its absolute price) is going to be what drives people away from it.

    There is a good chance that oil will touch US$200/barrel in the next two or three years; the fact it is holding near $90 in the middle of a deep global recession is amazing.

    • Bored 2.1

      The price of oil will yoyo big time. It is likely to crash as affordability (i.e the money to buy it) dries up, then to go ballistic as demand coinciding with underinvestment (from prior price crash) kicks in. Expect the peaks in real price (i.e inflation / deflation adjusted) to be very much higher than the $200 in 2010 scenario, many multiples more, and very much sooner (in 2035 there wont be much left).

    • Greg 2.2

      Oil is NZ’s single biggest import – around 14 percent of the total last year, from memory. And that was at an average $65 per barrel. When it’s $200 — well, you do the maths. But the problem is, half of our oil is used off-road: on farms and in the air. We’ll still need it.

      We could insulate ourselves from crazy prices, and live up to our green image too, if we had a government that could lead. Check out Kevin Cudby’s plan for growing it ourselves: http://fromsmoketomirrors.com/

  3. Bored 3

    Marty, you are so right that these people are ludicrously optimistic. Reports from people like the IEA are part of the problem, what this is all about is “denial”.

    The interesting graph for me was the one that showed “to be discovered / to be developed” oil fields taking up the whole slack of supply where existing fields drop off, in a flat line scenario. based entirely I would suggest on wishful thinking, and designed so as not to “scare the horses”.

    A more constructive approach would be a recognition of and a plan for the future. Whilst the mainstream is failing to make alternative provision I have, as have many more who are looked upon as pariahs and Cassandras.

    • Lanthanide 3.1

      IEA is funded by Opec, and principally the US. Don’t think much more than that needs to be said.

      Also, see my comment #1 above.

    • insider 3.2

      My limited understanding of their method is that they look at a highly developed key existing oil province like the US and its production history and they apply that to newer provinces. The assumption is that other producers will follow a similar path and get similar results.

  4. Bored 4

    On the subject of alternative plans there are a few really good sites for Standardistas to find out how to help themselves as opposed to awaiting for the powers who be to lead us into the “promised land”” of a “perpetually sunny energy rich upland”.

    The one thing that all of the sites agree upon is that survivng the energy decline will be about “communities” as opposed to “individual” initiatives. Survivalism wont help, but knowledge of our pre modern (oil based) existence will. Anybody interested would do well to start with the Archdruid for practical advise, and Transition Town sites. There is no unanimity, lots of disagreement but also a lot of good information. enjoy.

  5. rich 5

    We need to build a lot more renewables such that by 2035, we are using oil solely as a chemical feedstock. And stop burning coal, it’s going to be much more valuable than it is now.

    It’s doable – under Muldoon we had 80% plus renewables if I remember right?

    We just need to accept windfarms on hillsides and dams on rivers.

  6. nzfp 6

    On Oct 30, 2010 Bloomberg reported “Brazil Says Offshore Oil Field May be Americas’ Biggest Find in 34 Years”

    The article states:

    Brazil said its Libra field may hold “gigantic” reserves of as much as 15 billion barrels, almost twice initial estimates, which would make it the biggest discovery in the Americas in more than three decades.

    And that:

    A deposit of 15 billion barrels would be almost twice the size of state-controlled Petroleo Brasileiro SA’s nearby Tupi field, would eclipse Brazil’s total current reserve base and also be the biggest find in the Americas since Mexico discovered Cantarell in 1976. Deepwater fields in Brazil’s so-called pre- salt region have yielded the largest discoveries outside the Middle East in the past decade, said Julius Walker, an oil analyst at the Paris-based International Energy Agency.

    But it should also be cautioned that:

    “Nobody is making discoveries like these anywhere at the moment,” Walker said in a telephone interview today. It “makes deepwater Brazil the most exciting new area.”

    Doesn’t it seem too convenient that another “gigantic” field is found – just in time to save the day?

    It should be noted that Mexico’s economy was destroyed almost immediately after the discovery of the Cantarell oil field.

    • Lanthanide 6.1

      At a rate of 76m barrels per day, 15 billion barrels lasts just 6 1/2 months. Sizeable, to be sure, but still not enough to stop the decline.

      Also I wouldn’t say discoveries of gigantic fields are particularly ‘convenient’. More convenient is that the OPEC states have kept static reserve figures, despite producing billions of barrels of oil. Again like the flat-line graph mentioned in #1, they’re fudging figures to fit their goals, and not presenting the real data.

      Also if you think Mexico was destroyed when it discovered Cantarell, you ain’t seen nothing yet because oil revenue makes up 40% of the government’s revenue and Cantarell is in precipitous decline.

  7. nzfp 7

    “despite the fact that oil producers failed to lift their production in reaction to the last great oil spike”

    Yet what is interesting is that on September 07, 2009 The Market Oracle reported that “Russian Oil Production Overtakes Saudi Arabia”

    The Market Oracle stated that:

    Russia is extracting more oil than Saudi Arabia, making it the biggest producer of “black gold” in the world, figures show.

    The statistics, from the oil cartel Opec, reflect a trend that has seen the Russians periodically surpass the Saudis as the world’s biggest oil producers on and off since 2002

    And that:

    These latest figures are being hailed in Russia as evidence that such periodic production spikes are not one-offs though and that Moscow really does have a right to lay claim to the No 1 spot.

    According to Opec, Russia extracted 9.236 million barrels of oil a day in June, 46,000 more than Saudi Arabia.

    The statistics also showed that Russian production in the first half of this year increased to 235.8 million tons, a year-on-year improvement of 2.3 per cent.

    Which begs the question why they didn’t do this during the peak of the Goldman Sachs (doing gods work) and friends oil speculation bubble.

    We know that Alberta Oil Sands is out of the question – considering the devastating impact on the environment to produce it. But maybe we could consider the Hydrocarbon lakes on Titan?

    Personally, I think we should just reduce our reliance on oil and energy by changing our economic system to promote economic and political freedom along with local and sustainable communities.

    • Lanthanide 7.1

      “Which begs the question why they didn’t do this during the peak of the Goldman Sachs (doing gods work) and friends oil speculation bubble.”

      Because oil projects take many years, often decades, from planning through to development and eventual production. I’m sure Russia would’ve loved to start producing more oil at the height of the spike, but there’s only so fast you can rush projects for sensible amounts of money. Very large projects in particular are much more subject to delays than they are speeding up – if things aren’t done correctly or corners are cut, there can be huge environmental, safety and economic consequences (eg, damage your well and ultimately reduce your total recoverable reserves).

      • nzfp 7.1.1

        Oh yeah – you hit it right on the head, BP case in point!

        By the way – the Hydrocarbon Lakes on Titan – while interesting were for sarcastic humour value only (just in case anybody thought I was serious – they do exist but we can’t produce them yet).

        • Bill 7.1.1.1

          How? What? You saying there was life on Titan?

          Well, ain’t the Martians are going to be pissed.

          • nzfp 7.1.1.1.1

            Heh heh – no, but hydrocarbons are common in the solar system – especially hydrogen and methane.

  8. insider 8

    That’s less than 4% price increase per year on a base of USD$85. HArdly a level that is going to destroy the global economy. Electricity prices have risen more than that for the last decade in NZ.

    • nzfp 8.1

      While that may or may not be true – that still doesn’t mean that we shouldn’t reduce our consumption of oil.

      We could do THIS (11 October 2010 at 2:17 pm). It may or may not work (you need to read the comment) but it is worth trying. The resultant change to our economy would at least significantly reduce our reliance on oil – making us a light unto the nations for sustainability.

      • insider 8.1.1

        why not just create free money to buy the oil and cut out all that other hassle?

        • nzfp 8.1.1.1

          Why buy oil when you can have free renewable environmentally sustainable energy?

          • insider 8.1.1.1.1

            It’s not free if it costs you $10b to invent it let alone implement.

            • nzfp 8.1.1.1.1.1

              It’s free forever after an initial investment of 10 Billion – along with all the new technologies developed as well.

              Costs us nothing because we – the public – create the credit. No cost at all to us.

              • insider

                So no maintenance or installation costs, no need to buy materials or expertise offshore? Sounds like a perpetual motion money machine

                • nzfp

                  Oh now you’re just being silly…

                  So no maintenance or installation costs, no need to buy materials or expertise offshore?

                  What do you think? While you’re thinking of the answer – ask yourself if it’s relevant – cos it’s not. there’s this little thing called an economy – it’s where people realise opportunities and fill niches. You could start an installation business yourself. As the technology was developed here – the expertise is here. Our Universities are world class.

                  Sounds like a perpetual motion money machine

                  It does doesn’t it – it worked in the original 13 US colonies – Pennsylvania in particular. But if you’re worried about inflation – I have this little thing to take care of that – it’s called “TAX”. Ever heard of it – Taxes? Great for pulling excess money out of an economy.

    • Draco T Bastard 8.2

      That’s less than 4% price increase per year on a base of USD$85.

      It said $200 in today’s dollars which means it would be the same as having $200/barrel oil today. The global economy, as it’s set up, cannot work with $200/barrel oil.

      • Bored 8.2.1

        Of course the global economy can work at $200 a barrel, it can work very well at any price (depending on where you are in the food chain), sort of suboptimal by todays standards BUT it wont work at all if it has no oil……sit back and watch the violence at the pumps overflow into the fiancial arena when it dries up.

  9. Least we forget …………….. December 20th, 2002

    Dear Mr Atack

    Thank you for your letter of 16 November 2002, addressed to the Prime Minister, in which you outline your views about international oil depletion and your concerns about New Zealand’s energy future. As the subject matter you cover falls within my portfolio the Prime Minister asked me to reply to you directly…………………….

    Snip ……………….. Let me say therefore that I do understand the concerns that you and many others hold about the future of oil resources. It is true that no one seriously disputed the notion that oil is a non-renewable resource that will run out some day, but there is considerable debate about when that “one day” will be. There are counter views to the one that says we have only a few years of oil left. New Zealand is a member of the International Energy Agency (IEA). Then IEA for example, in its latest ‘World Energy Outlook’ published in September this year, foresees enough oil to comfortably meet demand to 2030. After the 1970’s oil shocks the predictions were that the world would run out of oil by the year 2000. I think it is also fair to say that technological improvements mean that the oil industry is steadily increasing the amount of oil it is able to extract and there are many who argue that this technological revolution has only just begun. ………………….
    There in no easy answer, but I can assure you that this Government is aware of the oil situation, and determined to ensure New Zealand moves over time to a future where we are not overly dependent on oil.
    I have kept the interesting material you enclosed with your letter (the CD and tape).
    If you would like the material back please write, or ring my office, and let me know and I will ensure it is returned to you Thank you again for sending it.

    Yours sincerely
    Hon Pete Hodgson
    Minister of Energy
    December 20th, 2002
    http://oilcrash.com/articles/hodgson.htm

    Back then Labor was saying oil wouldn’t be over $25.00 out to 2020 ish …
    And in an email from Pete I receaved about 4 months ago he said he wouldn’t sign off on the above letter today, if he had been listening to us 8 F-ing years ago he wouldn’t have signed it then, and maybe (just maybe) we wouldn’t be heading for this 2012 shitstorm.

  10. 2004 ish
    Dear Mr Atack
    http://oilcrash.com/articles/duynhovn.htm
    Thank you for your email of 8 September sent to the Prime Minister.
    She has asked me to reply to your email as the subject matter that you cover falls directly within the energy portfolio.

    I am aware that you have corresponded many times with the Prime Minister, and also with my colleague the Minister of Energy, on this subject.
    I have read the replies they have sent you in which they have tried to make it clear that we all agree with your view that oil is a non-renewable resource that will one day run out? The point of contention is of course when that one-day will be.

    The article you sent with your email is interesting but certainly represents the most pessimistic view in relation to when that one-day will be. There is a myriad of “highly informed” views on this with “experts” holding different opinions and I think it is unlikely that they will ever all agree.

    The truth probably lies somewhere between the views of the “experts” on either side of the debate but it is the case that many international organisations do not share your views. The authoritative International Energy Agency, of which New Zealand is a member, while remaining cautious, still predicts enough oil to meet demand to 2030.

    Please be assured that the information you have been given before on New Zealand’s move to renewable energy sources, such as wind and biomass, still hold true. We are ensuring that they will play an appropriate part in our energy future by implementing strategies that will assist us to a more sustainable environmentally friendly future.

    The Government is aware of the oil situation, and determined to ensure New Zealand moves over time to a future where we are not overly dependent on oil. The one thing I can tell you for certain is that New Zealand takes the depletion of oil reserves seriously.

    As a general observation I have to say that the material you are continually providing to Ministers on various forms of energy is a continuing the. I am not at all sure that further such correspondence will be helpful to yourself or Ministers unless there are genuinely some new issues or points to be made.

    I understand from Caroline Parlane in the Ministry of Economic Development that you are in regular communication with her and have sent her a wealth of information? Articles, CDs and tapes on the issue of oil supplies. She has undertaken to let me know if she finds anything in that information of which I am not currently aware or of which she thinks I should be informed.

    Yours sincerely
    Hon Harry Duynhoven
    Associate Minister of Energy

    So the above statment from the then Associate Minister of Energy New Zealand Labour Govt 2001-2004 is that he knows it all and I should go away you silly boy, and take all that peak oil rubbish with you.

  11. Jeremy Harris 11

    It’s not really going to be a question of prices holding at any level, more market reactions to decline…

    Production peaks and goes into decline, it doesn’t hold steady at a set production rate, say 85 mbd, and stay there as price increases… It hasn’t acted in this way in any “peaked” country or region…

    In the end, a lot of oil will remain in the ground because it is simply too expensive to extract.

    About 60% – 65% of oil will remain in a field, there is simply no pressure (even with water injection) to force it up the pipe… In Russia and the Sudan some idiots are simply burning off the NG that comes out of oil fields, so even at this stage there is waste…

    • Lanthanide 11.1

      Yeah, I think this is a very interesting point. There is a lot of wasted energy right now, even at the extraction point. As prices go up, this waste will go down, and eke out small production increases that probably aren’t accounted for in (m)any models. This waste could even end up being quite a sizeable amount? Who knows.

      As much as techno-fixes are always decried, there is always the possibility that new technology could be created to get significantly more access to that currently unrecoverable oil. I alluded to OPEC keeping a flat-line in their proven reserves – their justification is ‘reserve growth’ which is essentially new technology increasing the URR in any particular field.

      Another point is that there are thousands of ‘sipper wells’ in the US that produce only tens or hundreds of barrels a day, but they’re still producing and still economic for the owners. If this is the future for many onshore fields, then after a steep falloff production could actually stabilise at a higher level than some predict it will.

      One site that I like to check every now and then is this one: http://www.trendlines.ca/scenarios.htm

      This guy is often derided by those he calls the “peak oil lunatic fringe”, and perhaps his actual prediction is bunk, but he has compiled a list of predictions made by others, and regularly compares them with current and recent historical production to try and find which predictions have held out best. He’s found that many of the pessimistic scenarios have been well off the mark, and currently the best predictions were those made back in 97 and 98. It’s worth digging into the site, although obviously it is very information-dense and not particularly easy to read.

    • Jeremy Harris 11.2

      When production peaks and Wall St gets it they’ll be a crash that is in no way consist with the problem… Then:

      I think we’re in a for a depression of about 5 – 10 years and massive, massive cuts in government spending – possibly a new financial system – Bretton Woods or Gold Standard and then it will a new world with different growth but ultimately this is a smaller problem than WW2…

  12. statisticallydeviant 12

    I can’t access the full report but all publicly available information including the presentation to journalists has the IEA forecasting the price not increasing above $140ish (US) under current policy.

    http://www.worldenergyoutlook.org/docs/weo2010/weo2010_london_nov9.pdf

    The main scenario is quoted below. Quibble about the assumptions.

    “The oil price is set to rise, reflecting the growing insensitivity of both demand and supply to price. In the New Policies Scenario, the average IEA crude oil price rises from just over $60 in 2009 to $113 per barrel (in year-2009 dollars) in 2035.”

    http://www.worldenergyoutlook.org/

    If the $200 quoted in the Herald is derived by converting to NZ $ then its misleading and sensationalist but what else to expect from the press (or a partisan blog)?

    • Colonial Viper 12.1

      All of these guys are rubbish at forecasting anything. Do not put heed into their Mediocre-stan forecasts when we are clearly entering a period of full on Extremi-stan.

      • insider 12.1.1

        And how good have all the predictions of imminent doom and collapse in oil stocks been?

        • Robert Atack 12.1.1.1

          Well insider (another gutless no name) the current predictions from ‘our lot’ are playing out quite well ….
          Peak 2005 yes @ around 73 mbd of CRUDE
          Economic ‘problems’ starting not long after 2005, well 2007 – 8 is around that time, so we got that right.
          Now Parliamentary support have come out and confirmed another prediction … economic upheavals/crash 2012 – 2015 * http://oilcrash.com/articles/wake_up2.htm *
          Considering the govt have been saying since I bought it up in 1999 that the 2005 peak in Crude extraction wouldn’t happen until 2035, I think my predictions have been a shit load better, and I gave them out for free.
          I posted about 5 copies each twice to every one of the criminals in charge in 2000 of this statement http://oilcrash.com/articles/running.htm … it crunches down to 2 sides of an A4, I gave out 3,000 in one day on the streets of Wellington, I ended up getting 10,000 printed. And I know several hundred were handed out and placed on every seat at the Nelson Greed Party conference around 2001 ish?

          So Mr no name please read this * document and feel free to point out were we got things wrong.

          • insider 12.1.1.1.1

            I think you’ve made an error – 82mbd not 73 and in 2008 not 2005

            How many times did Colin Campbell wrongly predict peak and how much has he revised up his estimate of URR? Laherrere?

            When was Ken Deffeyes 99% sure PO was going to happen?

        • Colonial Viper 12.1.1.2

          Actually insider, that is my point – how good have all these forecasts been? Not at all!!!

          Further there are hundreds of billions of barrels of oil locked up in tar sands around the world. The world is not going to run out of oil, just oil that will give us petrol at less than $4/L.

  13. alloverrover 13

    Its not just the price… the IEA is warning of less oil being used in OECD nations…

    Whether you are a petrol head or a mum and dad happy motorist you will be living with less oil in the future. That’s the sober conclusion of the New Zealand government’s most trusted energy adviser — the International Energy agency (IEA) in its latest annual report.

    Starting now, and year after year, there will be less and less oil used per capita for transport in OECD nations — including New Zealand
    http://oilshockhorrorprobe.blogspot.com/2010/11/nz-will-live-with-less-oil-its-official.html

    • M 13.1

      AOR, less oil for sure but people won’t change their habits until they absolutely have to. Price is one thing, availability another, as fierce competition for Texas tea may mean we have intermittent supply.

      Time to get your hands on a bike, spare tyres and chain etc. For those that have bikes they will need to hawkeye them as theft will shoot up so it may necessitate housing your bike inside your house at night. When out, having chain of sufficiently heavy gauge and a good lock to protect your bike as best you can wouldn’t be a bad idea either. Hand mowers will make a comeback – Michelle Obama’s arms will have some competition.

      It’s time for the government to put the bit between its teeth, get the truth out and put this country on a wartime footing; given Key’s jellyfish nature that day will never come unless a tidal wave of reality threatens to engulf him.

      • alloverrover 13.1.1

        “It’s time for the government to put the bit between its teeth, get the truth out and put this country on a wartime footing; ”

        yes but where is Labour in all this? They are silent and no pressure is being applied to the government.

        • Lanthanide 13.1.1.1

          Because being doom and gloom doesn’t get you votes until it is widely acknowledged that there is a problem.

          • Jeremy Harris 13.1.1.1.1

            It can get you 8% of the vote… Ask the Greens…

            Captcha: extract (lol)…

            • Bored 13.1.1.1.1.1

              Actually, you will be lucky to be voting at all if provisions are not made for the the post oil economy.

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    . . 24 March 2020 9.46AM Number of covid19 cases in Aotearoa New Zealand: 102 . As of 11.59 on Thursday, most of New Zealand will go into “lock down”. People will be expected not to travel to work; not to socialise; and to stay home. I will not be ...
    Frankly SpeakingBy Frank Macskasy
    3 days ago
  • Aggressive action to address climate change could save the world $145 trillion
    This is a re-post from Yale Climate Connections A respected research group, Project Drawdown, finds that deploying solutions consistent with meeting the Paris climate targets would cost tens of trillions of dollars globally. But crucially, those outlays would also yield long-term savings many times larger than the up-front costs. The new 2020 Drawdown ...
    3 days ago
  • After the Pandemic
    It will pass. What happens next? Not immediately, but longer term. There are many opinions, fewer certainties. Will it “change everything!” as many confidently, and contradictorily predict? In this post I look at how foresight can help bound some of the uncertainties so you can more objectively consider the future. ...
    SciBlogsBy Robert Hickson
    3 days ago
  • Coronavirus – Cuba shows the way
    We’ve been meaning t write something on Cuba and the coronavirus but have just discovered a very good article on the subject in the US left publication Jacobin.  The article looks at how Cuba, a poor country but one where capitalism has been done away with, is leading the way ...
    RedlineBy Admin
    3 days ago
  • Using privacy law to prevent the death penalty
    In 2018, El Shafee Elsheikh and Alexanda Kotey - two British citizens who had purportedly been stripped of their citizenship by the British government - were captured while fighting for Isis in Syria. The British government then conspired to hand them over to the US, and agreed to provide evidence ...
    No Right TurnBy Idiot/Savant
    3 days ago
  • It’s Time For Disaster Socialism.
    Transformers: The disaster of the Great Depression was transformed into a new and fairer society by the democratic socialism of the First Labour Government. The disaster of the Covid-19 Pandemic offers a similar transformative possibility to the Labour-NZ First-Green Government. Seize the time, Jacinda! You will never have a better ...
    4 days ago
  • Skeptical Science New Research for Week #12, 2020
    Tamper with The System? Well, we already are. But there's a difference between accidentally trickling sand into a precision gearbox versus formulating a plan to alter it on the fly with improvements in mind. One action is more or less innocently unscrupulous, the other amenable to earning an easy ...
    4 days ago
  • Avoidable hospitalisations: Helping our health system get through COVID-19
    Associate Prof George Thomson, Louise Delany, Prof Nick Wilson While it is possible that New Zealand can use intense public health controls to eradicate COVID-19 from the country – we must also plan for other scenarios where thousands of New Zealanders are sick – including many urgently hospitalised.1 Better resilience ...
    SciBlogsBy Public Health Expert
    4 days ago
  • Raise the Bar: 10 questions to ask your employer proposing redundancy
    Kia ora my name is Chloe Ann-King* and I am the founder of Raise the Bar, a campaign and non-profit that gives free legal aid, advocacy and tautoko to hospitality workers in Aotearoa. Right now all over our country hospo workers are being fired at will, having shifts cut or being ...
    PosseBy chloeanneking
    4 days ago
  • An equitable way to support business
    The Herald reports that the government is planning to lend billions of dollars to large businesses to keep them operating during the pandemic. As with mortgage relief, this is necessary: we need companies to stay in business, to reduce the economic damage and help things get restarted again when this ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • Hard News: Together Alone
    We're about to do something unprecedented as a nation. We hope that by taking this extraordinary action before a single life in New Zealand has been lost to the deadly novel virus we will save tens of thousands of lives. Our  lives. We'll do it together, in households, in isolation ...
    5 days ago
  • Why timing is everything: ‘A time to refrain from embracing’ starts today
    “There is a time for everything,    and a season for every activity under the heavens.”So writes the author of Ecclesiastes, a book in the Old Testament that’s counted as a ‘wisdom’ book and written as if by an unnamed king of Jerusalem. But who would have thought there would be a time ...
    PunditBy Tim Watkin
    5 days ago
  • Dealing with the Covid-19 Tsunami.
    I was surprised when the prime minister described the Economic Response to Covid-19 package as the ‘largest peacetime government spend in New Zealand's history’. Reflecting – checking through history – I realised that the term ‘spend’ was crucial and the package had no income tax cuts. Even so, it has ...
    PunditBy Brian Easton
    5 days ago
  • What about renters?
    The government today announced the latest part of its pandemic relief package: a six-month mortgage holiday for people whose incomes have been affected by the pandemic. Which is great, because these people are going to need help, and that's what the government should be doing. At the same time, it ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • Living within our means.
    Years ago the Argentine sociologist Carlos Weisman wrote a book titled “Living within our Means.” It was a critique of Argentine society that focused on the paradoxical question of why, in a land of plenty, there was so much economic instability, inequality, corruption and political turmoil. His conclusion was basically ...
    KiwipoliticoBy Pablo
    5 days ago
  • Transparency and the pandemic
    Parliament will be leading by example and adjourning tomorrow after a special sitting to consider an epidemic notice and state of emergency. Day-to-day oversight of the government will be delegated to a select committee. But that's not the only overight mechanism. The OIA will still be law, and (so far) ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • ‘Overjoyed’: a leading health expert on New Zealand’s coronavirus shutdown, and the challengin...
    Michael Baker, University of Otago Overjoyed. That’s not a word epidemiologists normally use, but that’s how I felt after hearing Prime Minister Jacinda Ardern’s announcement about New Zealand’s COVID-19 shutdown of everything except essential services for at least four weeks from midnight on Wednesday. More than anything, I just ...
    SciBlogsBy Public Health Expert
    5 days ago
  • One way to solve the housing crisis
    How much homelessness is caused by house hoarding? We're about to find out. The pandemic has destroyed tourism, which means that house hoarders who put their hoarded properties up as short-term tourist rentals are now offering them on the ordinary rental market:Property investors are pulling properties from Airbnb to offer ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • The pros and cons of planting trees to address global warming
    This is a re-post from Yale Climate Connections by Bruce Lieberman It seems like such a simple, straightforward, empowering idea: plant trees – a lot of trees – all over the world, and watch the planet’s temperature fall. Who doesn’t love a tree or two, even far more – the right ...
    6 days ago
  • Not a grand coalition, but a government of national salvation
    According to Newshub, Simon Bridges is open to joining a “grand coalition” with Labour as we hunker down to go into a month long lockdown. The idea is sound. Before now, the role of the opposition was to scrutinise and oppose. In the context of what almost amounts to a ...
    PunditBy Liam Hehir
    6 days ago
  • Raise the Bar: hospitality workers & wage subsidy entitlements
    Kia ora my name is Chloe Ann-King* and I am the founder of Raise the Bar, a campaign and non-profit that gives free legal aid, advocacy and tautoko to hospitality workers in Aotearoa. Right now all over our country hospo workers are being fired at will, having shifts cut or ...
    PosseBy chloeanneking
    6 days ago
  • Lifting our game against COVID-19
    We need to be lifting our game against COVID-19. You and I need to help those working to prevent the spread of COVID-19 while they’re trying to lift the testing and treatment efforts. We don’t want to be playing this game running backwards. Best to play it solidly forward, from ...
    SciBlogsBy Grant Jacobs
    6 days ago
  • The maths and ethics of minimising COVID-19 deaths in NZ
    Prof Tony Blakely, Prof Michael Baker, and Prof Nick Wilson The NZ Government must do more to clearly articulate its COVID-19 strategy: eradication or ‘flattening the curve’ mitigation. But to do so means understanding the maths and ethics of both these strategies. In this blog, we adapt our work for ...
    SciBlogsBy Public Health Expert
    6 days ago
  • All aboard the Covid Train
    A few days ago I was starting to write something about the pandemic, which now seems unconscionable. It took the form of a letter to an agony aunt:“Dear Deidre, I have an ugly confession. I am quite excited by Covid-19.”This is how the piece went:“I’m not a psychopath, honest. Although the ...
    PunditBy Phil Vine
    6 days ago
  • 2020 SkS Weekly Climate Change & Global Warming Digest #12
    Story of the Week... Toon of the Week... Climate Feedback Article Review... Coming Soon on SkS... Climate Feedback Claim Reviews... SkS Week in Review... Poster of the Week... Story of the Week... In Just 10 Years, Warming Has Increased the Odds of Disasters The likelihood of extreme events ...
    6 days ago
  • We are all socialists now
    Last week, the government announced a $12 billion initial package to support people during the pandemic. Today, the Reserve Bank is buying government bonds - effectively printing money - to keep up the money supply during the crisis. Normally such moves would have the right apoplectic. Instead, the National Party ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • A plea to experts: safeguard your role in public life
    I am a pundit, somebody who opines and comments on the news. There are no real qualifications to punditry though having a rudimentary way with words and good general knowledge helps. That is one reason there is a constant oversupply of would-be pundits and why it is quite hard to ...
    PunditBy Liam Hehir
    1 week ago
  • Enlightenment when?
    I recently encountered the following prescription from a Faculty of Education at a leading New Zealand University. At first I wondered if it was another product of the postmodern generator (http://www.elsewhere.org/journal/pomo/), designed to create gibberish in the postmodern form, but I’m told it is real: The “schooled” society: Towards the ...
    SciBlogsBy Michael Corballis
    1 week ago
  • What the Crisis Can teach Us
    The coronavirus pandemic has of course had a major impact on individual lives and on societies as a whole. But, long after the crisis has passed (assuming it does), we will begin to realise that its real and lasting significance lies in the lessons it has taught us, if only ...
    Bryan GouldBy Bryan Gould
    1 week ago
  • Hammering home measures to stop COVID-19
    COVID-19 has plunged Aotearoa New Zealand (indeed, the world) into territory that, while maybe not totally unprecedented, certainly hasn’t been seen during the lifetimes of most of us here today. Our borders are closed to non-citizens, we’re being told not to gather in groups of more than 500 outside/100 inside, ...
    PunditBy Andrew Geddis
    1 week ago
  • What does ‘level two’ mean – and why does it matter?
    For the last few weeks, I’ve been urging you to prepare yourself, your family, business, and community for Covid-19. Now it’s time for real action.  Yesterday the director-general of health Dr Ashley Bloomfield announced another 13 confirmed cases of Covid-19 in New Zealand, bringing our total to date to 52. ...
    SciBlogsBy Siouxsie Wiles
    1 week ago
  • 2020 SkS Weekly Climate Change & Global Warming News Roundup #12
    A chronological listing of news articles linked to on the Skeptical Science Facebook Page during the past week, i.e., Sun, Mar 15, 2020 through Sat, Mar 21, 2020 Editor's Pick Now Isn’t the Time to Forget About Our Climate Change Efforts   Tasha Tilberg, Lindsey Wixson, and Liu Wen photographed ...
    1 week ago
  • Is the Guardian becoming  a real newspaper again?
    by Jan Rivers The article has been corrected to show that it was Ewen MacAskill, former Guardian journalist and not Luke Harding who travelled to meet Edward Snowden with journalist Glenn Greenwald and filmmaker Laura Poitras.  Some of the Guardian’s well-known journalists who did not sign the protest letter are ...
    RedlineBy Daphna
    1 week ago
  • Life asserts itself regardless
    by Cultural Worker Late March 2020 amidst the virus. With gigs crashing and burning all around it was without much hope that I called a long standing rest home booking: “ Hi, I’m supposed to be entertaining at your place this afternoon – is it still on?” “”If you don’t ...
    RedlineBy Daphna
    1 week ago
  • Politics, the possible, and the pandemic
    Whenever people demand real change from their politicians, we're told that "politics is the art of the possible". The implication is that change isn't possible, so we'd better just get used to the sucky status quo. But now that there's a pandemic, a lot of things we were previously told ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • The Only Way Through This Crisis Is Together.
    Together: In leading New Zealand through the Covid-19 Pandemic, the Prime Minister could do a lot worse than allow herself to be guided by the spirit of collective sacrifice and co-operation that animated the New Zealanders of 80 years ago. Most Kiwis alive today have had no opportunity to prove their ...
    1 week ago
  • GFC vs Covid-19
    It is said that generals fight the last war. In the case of the early stages of the Global Financial Crisis (GFC) they had learned from the Great Depression of the 1930s and they fought intelligently and successfully. Later their advice would be ignored in favour of the Austerians who ...
    PunditBy Brian Easton
    1 week ago
  • Nobody Left Behind.
    Solidarity Forever: All over the world, the arrival of the Covid-19 virus has exposed the fragility of the walls we erect around ourselves and our loved ones. It has shattered our illusions of autonomy and revealed to us how utterly dependent we all are on other human-beings. Finally, we see ...
    1 week ago
  • Rebuilding a truly “Democratic” counter, or a “moderate Republican” bolt-hol...
    Looking across the various arguments for/against the leading candidates to take the Democratic Nomination, you might honestly be very hard pressed to tell. There are a number of things that have now started happening since Amy Klobuchar and “Mayor Pete” Buttigieg both threw the towel in and immediately (and ...
    exhALANtBy exhalantblog
    1 week ago
  • Abortion law reform a win for women
    by Daphna Whitmore Abortion is no longer in the Crimes Act in New Zealand. The law reform passed yesterday and now abortion is a medical matter between a woman and her doctor. Many women’s groups and progressive people have campaigned for reform for decades. The women’s liberation movement and some ...
    RedlineBy Daphna
    1 week ago
  • How to spot bogus science stories and read the news like a scientist
    Doug Specht, University of Westminster and Julio Gimenez, University of Westminster When fake news, misreporting and alternative facts are everywhere, reading the news can be a challenge. Not only is there plenty of misinformation about the coronavirus pandemic, climate change and other scientific topics floating around social media, you also ...
    SciBlogsBy Guest Author
    1 week ago
  • Why New Zealand needs to continue decisive action to contain coronavirus
    Michael Baker, University of Otago and Nick Wilson, University of Otago With some of the toughest border restrictions and a newly-announced NZ$500 million boost to health services, New Zealand is among a small number of countries with a strategy to contain the COVID-19 pandemic. New Zealand is also fortunate in ...
    SciBlogsBy Public Health Expert
    1 week ago
  • Parliament and the pandemic II
    As expected, the government has introduced a sessional order to allow Parliament to operate during the pandemic. You can read it on the Order Paper here, but the short version is that questions and motions can be filed electronicly, select committees can work remotely, and the the Business Committee can ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • When a virus goes viral: pros and cons to the coronavirus spread on social media
    Axel Bruns, Queensland University of Technology; Daniel Angus, Queensland University of Technology; Timothy Graham, Queensland University of Technology, and Tobias R. Keller, Queensland University of Technology News and views about coronavirus has spread via social media in a way that no health emergency has done before. Platforms like Twitter, Facebook, ...
    SciBlogsBy Guest Author
    1 week ago
  • How to survive 14 days of self-isolation
    So you’ve recently returned from overseas, come into contact with someone who tested positive, got a bit of a dry cough yourself or perhaps just want to self isolate for 14 days to avoid other people who might have COVID-19. Here are a few tips and tricks to help get ...
    2 weeks ago
  • Abortion Legislation Bill passes third reading
    Some fave speeches:     ...
    Boots TheoryBy Stephanie Rodgers
    2 weeks ago
  • Why Leadership Matters – More Than Anything.
    Our Good Fortune: Precisely because she has never been an ideologue (she calls herself a “pragmatic idealist”) Jacinda Ardern has a political nimbleness and spontaneity which, when infused with her exceptional emotional intelligence, produces spectacular demonstrations of leadership. Jacinda's empathic political personality contrasts sharply with the less-than-sunny ways of her ...
    2 weeks ago
  • Skeptical Science New Research for Week #11, 2020
    2 weeks ago
  • 68-51
    The Abortion Legislation Bill has just passed its third reading, 68-51. NZ First MPs bailed because their referendum amendment didn't pass, but there were plenty of MPs to provide a majority without them. The bill is a long way from perfect - most significantly, it subjects pregnant people who need ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • The ‘herd immunity’ route to fighting coronavirus is unethical and potentially dangerous
    As most of the world tries to suppress the coronavirus spread, some countries are going it alone – trying to manage the pandemic through so-called “herd immunity”. Herd immunity means letting a large number of people catch a disease, and hence develop immunity to it, to stop the virus spreading. ...
    SciBlogsBy Guest Author
    2 weeks ago
  • Eight new COVID-19 cases today. It’s no surprise when you look at some numbers
    So, as I sit at home with a very, very slight headache (i.e. not at work when I would otherwise be so), the now familiar figure of Ashley Bloomfield reports eight new confirmed cases of COVID-19  including two in Waikato. A surprise, given that we had just twelve yesterday? No. ...
    SciBlogsBy Marcus Wilson
    2 weeks ago
  • The WINZ Paradox versus the new COVID-19 Reality: Get real people, seriously…
    Many who advocated for, and voted for, the current Coalition – particularly those who voted Labour and the Green Party – expected to see a sea change in the reality of social services. A real, deep change of attitude, approach of process through which the system negotiates the difficult and ...
    exhALANtBy exhalantblog
    2 weeks ago
  • The Air New Zealand bailout
    Stuff reports that the government is going to have to throw $2 - 3 billion at Air new Zealand to get it through the pandemic. Good. While international routes are basicly closed, Air New Zealand is a strategic asset which is vital to our tourism industry, not to mentioning airfreight. ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Why NZ’s tough coronavirus travel rules are crucial to protecting lives at home and across the Pac...
    New Zealand’s border restrictions will come with significant job and business losses in the tourism sector, both at home and in the Pacific. But the new travel rules are absolutely necessary to protect the health of New Zealanders and people right across Pacific Islands, because New Zealand is a gateway ...
    SciBlogsBy Guest Author
    2 weeks ago
  • The tiniest of teeth
    Back in early 2018, as a shoddy legal tactic to try and avoid the prisoner voting ban being formally declared inconsistent with the BORA by the Supreme Court, Justice Minister Andrew Little floated the idea of greater legal protection for human rights. When the Supreme Court case didn't go the ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • One simple, common factor to success against COVID-19
    Professor Philip Hill and Associate Professor James Ussher Most infectious diseases have an Achilles heel, the secret is to find it. The question is if we don’t have a drug or a vaccine for COVID-19, is there something else we can do to beat it? Some people estimate that, without ...
    SciBlogsBy Guest Author
    2 weeks ago
  • National should isolate Simon Bridges
    The Coalition Governments $12.1 billion economic package to help combat the financial effects of COVID-19 was generally well received across the board, even amongst many business leaders who would normally be critical of a Labour led Government.However there was one glaringly obvious exception, Simon Bridges. The so-called leader of the ...
    2 weeks ago
  • How testing for Covid-19 works
    With confirmed cases of Covid-19 in New Zealand up to 12, many influential people are writing open letters and opinion pieces and doing press conferences asking why we aren’t pulling out all the stops and testing thousands of people a day like they are in South Korea. The thing is, ...
    SciBlogsBy Siouxsie Wiles
    2 weeks ago
  • The COVID-19 package and the limits of capitalism
    by Daphna Whitmore The willingness to put human life before business shows that sometimes capitalism is capable of suspending its relentless drive for profit. For a short time it can behave differently. Flatten the curve is the public health message since COVID-19 suddenly overwhelmed the hospital system in northern Italy. ...
    RedlineBy Daphna
    2 weeks ago

  • Tariff concessions on COVID-19 related products
    New Zealand will temporarily remove tariffs on all medical and hygiene imports needed for the COVID-19 response. Trade and Export Growth Minister David Parker and Commerce and Consumer Affairs Minister Kris Faafoi said today that the New Zealand Customs Service will apply tariff concessions to all diagnostic reagents and testing ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Clarification of modification to wage subsidy scheme
    Minister of Finance Grant Robertson has clarified that the changes to the wage subsidy scheme announced yesterday mean that employers should be passing on the full subsidy to workers, except in the case where the person’s normal income is less than the level of the subsidy. “We still want employers ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Face masks flowing to DHBs
    Medical face masks from the national reserve supply are now being distributed to District Health Boards, while at the same time local production is being ramped up. Yesterday more than 640,000 masks were sent to DHBS – that is an immediate two week supply, with more to follow in coming ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • COVID-19: Further steps to protect New Zealanders’ jobs
    The Government has made modifications to the wage subsidy scheme to ensure people don’t lose their jobs during the national lockdown. These changes will soften the impact of COVID-19 on workers, families and businesses, and position them to exit the lockdown and look to recovery, Finance Minister Grant Robertson says. ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Tax relief for Mycoplasma Bovis farmers
    Farmers whose herds were culled in response to the outbreak of Mycoplasma bovis will be able to minimise the tax treatment of their income in some circumstances. Revenue Minister Stuart Nash says Cabinet has agreed to change the law. It means farmers may be eligible to spread their income over ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • $27 million for NGOs and community groups to continue providing essential services
    A $27 million dollar package, effective immediately, is being provided to social sector services and community groups to ensure they can continue to provide essential support to communities as we stay at home as a nation to stop the spread of COVID-19, Minister for Social Development Carmel Sepuloni announced. “At ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Statement on guilty plea of March 15 terrorist
    “The guilty plea today will provide some relief to the many people whose lives were shattered by what happened on March 15,” Prime Minister Jacinda Ardern said. “These guilty pleas and conviction bring accountability for what happened and also save the families who lost loved ones, those who were injured, ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • COVID-19 updates
    The Prime Minister is holding daily press conferences to update New Zealanders on the Government's response to COVID-19. Links to videos and transcripts of these updates below. These transcripts also include All of Government press conferences led by Director Ministry of Health's Director-General of Health Dr Ashley Bloomfield. 25 March: Live update from the Prime ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Police numbers break through 10,000 mark
    Frontline Police numbers have broken through the 10,000 mark for the first time in history as officers step forward to keep the community safe during the COVID19 lockdown. “Two Police graduations in Auckland and Wellington in the past week have been conducted in unprecedented circumstances,” Police Minister Stuart Nash said. ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Urgent tax measures for economic recovery
    Urgent legislation has been passed to support the package of economic and social measures needed to recover from the impact of the coronavirus outbreak. “The COVID-19 Response (Taxation and Social Assistance Urgent Measures) Bill will cushion New Zealanders from the worst economic impacts of the COVID-19 outbreak,” said Revenue Minister ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Further support for farmers and growers as drought persists
    From tomorrow, Government support for farmers and growers affected by drought will be expanded and extended across the country, with access to Rural Assistance Payments (RAPS) available throughout the North Island, parts of the South Island and the Chatham Islands, Social Development Minister Carmel Sepuloni announced. “These challenging conditions have ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • COVID-19: Temporary changes to Education Act
    Parliament has passed amendments to legislation that give the Secretary of Education stronger powers to act in the fight to limit the spread of COVID-19, Education Minister Chris Hipkins said today. “They are part of a suite of changes passed under the COVID-19 Response (Urgent Management Measures) Legislation Bill,” Chris ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Canada, Australia, Chile, Brunei and Myanmar join NZ and Singapore in committing to keeping supply a...
    Canada, Australia, Chile, Brunei and Myanmar have joined forces with New Zealand and Singapore by committing to keep supply chains open and remove any existing trade restrictive measures on essential goods, especially medical supplies, in the face of the Covid-19 crisis.  Trade and Export Growth Minister David Parker today welcomed ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • COVID-19: Rent increase freeze and more protection for tenants
    Immediate freeze on rent increases Tenancies will not be terminated during the lock-down period, unless the parties agree, or in limited circumstances Tenants who had previously given notice can stay in their if they need to stay in the tenancy during the lock-down period Tenants will still be able to ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Working together to protect businesses and workers
    As New Zealand unites to lock-down in the fight against COVID-19, the Finance Minister is urging all businesses and workers to stay connected over the next four weeks. “We understand the extreme pressure many businesses are under right now. I know most business owners think of their workers as family ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • State of National Emergency declared to fight COVID-19
    A State of National Emergency has been declared across the country as the Government pulls out all the stops to curtail the spread of COVID-19. “Today we put in place our country’s second ever State of National Emergency as we fight a global pandemic, save New Zealanders’ lives and prevent ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Prime Minister’s statement on State of National Emergency and Epidemic Notice
    Mr Speaker I wish to make a Ministerial Statement under Standing Order 347 in relation to the recent declaration of a State of National Emergency. Having considered the advice of the Director Civil Defence Emergency Management, the Minister of Civil Defence declared a State of National Emergency for the whole of ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Deadline for domestic travel extended
    People needing to travel on domestic flights, trains and Cook Strait ferries to get home before the country moves into level 4 lock-down tomorrow night will be able to continue using the passenger services until midnight on Friday, Transport Minister Phil Twyford said today. Domestic passenger services, particularly ferries, have ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Mortgage holiday and business finance support schemes to cushion COVID impacts
    The Government, retail banks and the Reserve Bank are today announcing a major financial support package for home owners and businesses affected by the economic impacts of COVID-19. The package will include a six month principal and interest payment holiday for mortgage holders and SME customers whose incomes have been ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government working to keep air freight moving
    Minister of Transport Phil Twyford has today announced details of the Government’s support package to keep key air freight moving and ensure New Zealanders retain access to essential goods during the four-week level 4 lockdown. “The Government is working with airlines and air freight operators to ensure New Zealand’s key ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • New Zealand moves to COVID-19 Alert Level 3, then Level 4 in 48 hours
    New Zealand moved up to COVID-19 Alert Level 3 – Restrict New Zealand to move up to COVID-19 Alert Level 4 – Eliminate, in 48 hours Two-staged approach to give people and businesses time to prepare  Level 3, from tomorrow Non-essential businesses must close All events and gatherings must be ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Prime Minister: COVID-19 Alert Level increased
    Good afternoon  The Cabinet met this morning to discuss our next actions in the fight against COVID-19.  Like the rest of the world, we are facing the potential for devastating impacts from this virus. But, through decisive action, and through working together, do we have a small window to get ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Govt takes significant economic decisions as NZ readies for Alert Level 4 in COVID-19 fight
    The Government is announcing significant further support for the economy, workers and businesses as the country unites to prepare for Alert Level 4 in the fight against COVID-19. Cabinet today agreed to remove the cap on the Government’s wage subsidy scheme, which will inject a further $4 billion into the ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Govt backs RBNZ move to support economy with lower interest rates
    The Government is backing the Reserve Bank’s latest action to support the economy by reducing longer-term interest rates, meaning lower costs for businesses and mortgage holders, and a lower currency to help our exporters. The Minister of Finance has signed a memorandum of understanding and a letter of indemnity with ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Government statement on commercial cooperation during COVID-19
    The Government has asked the Commerce Commission to take account of the exceptional circumstances created by COVID-19 when monitoring business behaviour in coming weeks.   “The purpose of my request to the Commerce Commission is to make sure businesses can work together in ways that will allow them to provide ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealand temporarily closes diplomatic posts in Barbados and Myanmar due to COVID-19
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