Episode Details
Back to EpisodesNew Zealand's Energy Reserves: Business as Usual
Description
New Zealands Prime Minister, Chris Luxon, is preparing for a potential energy crisis by securing additional fuel reserves, drawing from his experience at Air New Zealand. Despite current stocks being adequate, with 27.9 days of petrol, 21.7 days of diesel, and 25.3 days of jet fuel on hand, the government is taking proactive measures. Prices have surged, with unleaded petrol at NZ$3.42 per liter and diesel at NZ$3.44, up significantly this month. New Zealand is in the initial stage of a four-step crisis plan, considering further purchases and new diesel tanks. Luxon criticizes subsidies as bad policy, favoring a balanced approach to manage inflation and debt while monitoring supply levels.
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