Lesson for NZ from Iran War is our need to be electrified and not gas or oil reliant
Surely the lesson for NZ from what is happening in Iran right now is that we need to be self sufficient on electricity?
At a time when the Government have dumped EV subsidies and clean car subsidies, is investing in a multi-billion dollar gas scam and have avoided subsidising solar, we are faced with the perfect storm of oil price hikes.
Iranians are now Mining the Straits of Hormuz – I think Trump has bitten off way more than he can chew – he has mistakenly believed Theocratic Religious Zealots could be as easily bullied as Corrupt Crony Revolutionary Venezuelans – this isn’t ending soon.
The South Koreans are looking at ending refined oil exports, NZ gets 48% of our oil from them.
If they shut down exports, it will be crippling to NZs economy.
NZ has 20 days of petrol on shore and a further 30 days in tankers heading here – BUT – those tankers can sell to other clients before they get to NZ, so we HOPE they come here, but if the situation goes longer, that oil can be sold before it gets here and they will turn around.
Bernard Hickey has the report on what sitting the straits means for NZs fuel…
Report advised on Hormuz risks, including forecast of hit to GDP
An Envisory-Castalia report on Fuel Security for the Government last year considered the risk of a major disruption such as an extended closure of the Strait of Hormuz and estimated a GDP hit of upwards of 1% of GDP. It estimated prices would increase by twice as much as during the Ukraine crisis.
…I think the 1% GDP destruction is optimistic.
Trump has damaged so much with this illegal war.
Climate change is happening faster than predicted and its impacts are only going to cause geopolitical stresses to occur.
The solution is massive electrification of the NZ system so that we are not held hostage.
That means more electric cars, more electric car subsides, more solar, more solar panel subsides, wind and turbine energy creation.
We are refusing to acknowledge the massive change coming.
