High cost for virtue signalling

September 25, 2018

Government officials estimate the ban on offshore oil and gas exploration will cost $7.9 billion.

. . .Foregone revenue to New Zealand could be higher under high exploration, $14 .3 billion, or as low as $2.7 billion with low exploration.  . .

Even if it is “only” $2.7 billion foregone that is only part of the cost.

. . .The Petroleum Exploration and Production Association of New Zealand (PEPANZ) says it is time for a re-think on plans to end new offshore exploration.

“The Regulatory Impact Assessment (RIS) shows that ending new offshore permits is a disastrous policy for New Zealanders, likely to cost the Crown $7.9 billion in lost revenue and potentially up to $23.5 billion,” says PEPANZ CEO Cameron Madgwick.

“Importantly, this is only a part of the picture. Company profits could also reduce by billions which will cost jobs and investment into New Zealand, and the wider economic costs have not even been modelled.

“At the same time, it is considered more likely to increase greenhouse gas emissions than reduce them. It’s hard to think of a worse overall outcome.

“As well as the lost revenue it will mean higher energy prices for New Zealand homes and businesses, increasing the cost of living and destroying jobs. . .

That is a very high price for a policy that is at best virtue signalling and at worst will not only have a high economic cost, but a high environmental one too.

Good government would ensure there are viable and sustainable alternatives before a policy to knock off an industry and kill off a local supply of energy was announced.

Instead of which, we’ve been given blurt and hope – policy announced without any consideration of the costs and consequences.

That is not a credible way to run a country.

 


Quote of the day

September 25, 2018

As a rule, when we can’t find even one good quality in a person, we are prejudiced, and by that rule I must admit my prejudice.- Jessica Anderson who was born on this day in 1916.

 


September 25 in history

September 25, 2018

275  The Roman Senate proclaimed Marcus Claudius Tacitus Emperor.

303 On a voyage preaching the gospel, Saint Fermin of Pamplona was beheaded in Amiens.

1066  The Battle of Stamford Bridge marked the end of the Viking invasions of England.

1396  Ottoman Emperor Bayezid I defeated a Christian army at theBattle of Nicopolis

1513  Spanish explorer Vasco Núñez de Balboa reached the Pacific Ocean.

1555 The Peace of Augsburg was signed in Augsburg by Charles V and the princes of the Schmalkaldic League.

1690  Publick Occurrences Both Foreign and Domestick, the first newspaper to appear in the Americas, was published for the first and only time.

1694 Henry Pelham, Prime Minister of the United Kingdom, was born (d. 1754).

1725 Nicolas-Joseph Cugnot, French steam vehicle pioneer, was born (d. 1804).

1764 Fletcher Christian, English Bounty mutineer, was born (d. 1793).

1775  Ethan Allen surrendered to British forces after attempting to capture Montreal during the Battle of Longue-Pointe. At the same time,Benedict Arnold and his expeditionary company set off from Fort Western, bound for Quebec City (Invasion of Canada (1775)).

1789   The U.S. Congress passed twelve amendments to the United States Constitution: the Congressional Apportionment Amendment (which was never ratified), the Congressional Compensation Amendment, and the ten known as the Bill of Rights.

1804   The Teton Sioux (a subdivision of the Lakota) demanded one of the boats from the Lewis and Clark Expedition as a toll for moving further upriver.

1819 1819 Samuel Marsden planted what is believed to have been the first grape vines in New Zealand.

New Zealand's first grapevines planted?

1846  U.S. forces led by Zachary Taylor captureed the Mexican city of Monterrey.

1862 Billy Hughes, seventh Prime Minister of Australia, was born (d. 1952).

1868  The Imperial Russian steam frigate Alexander  Nevsky Neuski was shipwrecked off Jutlandwhile carrying Grand Duke Alexei of Russia.

1889 C. K. Scott-Moncrieff, Scottish writer and translator, was born (d. 1930).

1897 William Faulkner, American writer, Nobel laureate, was born (d. 1962).

1906  Leonardo Torres Quevedo successfully demonstrated the invention of the Telekino in the port of Bilbao, guiding a boat from the shore, in what is considered the birth of the remote control.

1911 Eric Williams, first Prime Minister of Trinidad and Tobago, was born (d. 1981).

1912  Columbia University Graduate School of Journalism was founded in New York.

1915   World War I: The Second Battle of Champagne began.

1916 Jessica Anderson,  Australian author, was born (d 2010).

1921 Sir Robert Muldoon, New Zealand Prime Minsiter was born (d 1992).

1922 Hammer DeRoburt, first President of Nauru was born (d. 1992).

1929   Jimmy Doolittle performed the first blind flight from Mitchel Field proving that full instrument flying from take off to landing was possible.

1929 English comedian Ronnie Barker was born (d. 2005).

1929 US broadcaster Barbara Walters was born.

1938 Jonathan Motzfeldt, first Prime Minister of Greenland, was born.

1942  World War II: Swiss Police Instruction of September 25, 1942 denied entry into Switzerland to Jewish refugees.

1944 Michael Douglas, US actor was born.

1944  World War II: Surviving elements of the British 1st Airborne Division withdraw from Arnhem in the Netherlands, ending the Battle of Arnhem and Operation Market Garden.

1946 English actress Felicity Kendal was born.

1952 US actor Christopher Reeve was born (d 2004).

1955  The Royal Jordanian Air Force was founded.

1956   TAT-1, the first submarine transatlantic telephone cable system, was inaugurated.

1957  Central High School in Little Rock, Arkansas, was integrated by the use of United States Army troops.

1959 Solomon Bandaranaike, Prime Minister of Sri Lanka was mortally wounded by a Buddhist monk, Talduwe Somarama.

1962  The People’s Democratic Republic of Algeria was formally proclaimed. Ferhat Abbas was elected President of the provisional government.

1969 English actress Catherine Zeta-Jones was born.

1970 Cease-fire between Jordan and the Fedayeen ended fighting triggered by four hijackings on September 6 and 9.

1972  In a referendum, the people of Norway rejected membership of the European Community.

1977 About 4,200 people took part in the first Chicago Marathon.

1978 PSA Flight 182, a Boeing 727-214, collided in mid-air with a Cessna 172  in San Diego, resulting in the deaths of 144 people.

1981  Sandra Day O’Connor became the 102nd person sworn in as an Associate Justice of the Supreme Court of the United States and the first woman to hold the office.

1983  Maze Prison escape: 38 republican prisoners, armed with 6 handguns, hijacked a prison meals lorry and smashed their way out of the Maze prison.

1996 The last of the Magdalene Asylums closed in Ireland.

2002 The Vitim event, a possible bolide impact in Siberia.

2003 A magnitude-8.0 earthquake struck just offshore Hokkaidō.

2008  China launched the spacecraft Shenzhou 7.

2009 – U.S. President Barack Obama, British Prime Minister Gordon Brownand French President Nicolas Sarkozy, in a joint TV appearance for a G-20 summit, accuse Iran of building a secret nuclear enrichment facility.

2010 – Mahmoud Abbas spoke at United Nations General Assembly to request that Israel end its policy of building settlements in the West Bank.

Sourced from NZ History Online & Wikipedia


365 days of gratitude

September 24, 2018

Weather forecasting might be a science but it is an inexact one.

No matter the knowledge and skill of forecasters and the advances in technology at their disposal, nature will always have the last say.

In spite of that more often than not, forecasters are right and when they warn of a cold snap it pays to take heed.

In farming, especially at this time of year with lambing and calving underway, it is particularly important to act on intimations of inclement weather.

Tonight I’m grateful for a weather forecast that allowed us to plan for cold and wet.

 


Word of the day

September 24, 2018

Eggtaggle – the act of wasting time in bad company.


Awakening New Zealand

September 24, 2018

Aren’t we blessed to be able to wake up to this?

 


Rural round-up

September 24, 2018

There is support out there for Hawke’s Bay farmers – Georgia May:

Farmers constantly deal with situations that are out of their control, heavy weather, dairy payouts and stock illness. A vulnerability that doesn’t weigh on the minds of many others.

It’s been nearly three weeks since heavy rain struck the Hawke’s Bay region where some farmers lost up to 25 per cent of their newborn lambs.

While attitudes of farmers generally remain stoic through difficult times, others have spoken out, saying that they feel forgotten about. . .

Plant shows Alliance is serious

Processing has begun at Alliance’s new $15.9 million venison plant at Lorneville in Southland.

The first deer went through the plant last Monday. 

Once operating at peak capacity the plant will employ about 60 people.

It has improved handling facilities and an enhanced configuration. 

The slaughterboard, boning room and offal area are larger than those at Alliance’s venison processing facilities at Smithfield and the company’s former Makarewa plant. . .

Comprehensive interim tax report a useful step:

The Tax Working Group’s (TWG) Interim Report provides a useful resource for how New Zealand’s tax system could be improved says Federated Farmers vice president Andrew Hoggard.

“It’s a good piece of work. The report clearly articulates and explores the issues we raised in our submission – it’s a highlight when you can see you have been heard.”

A big issue explored in the report is whether to extend New Zealand’s taxation of capital income, says Andrew. “Federated Farmers remains opposed to a significant broadening of the capital gains tax particularly if it taxes unrealised capital gains.”

“The report outlines the value of providing ‘roll-over relief’ for farms sold to the next generation and for farmers wanting to ‘trade-up’ to a bigger more expensive farm.  These were two critical issues we raised in our submission to the TWG back in April so we are pleased that it has listened to us on those points. . .

Tax Working Group findings support private land conservation:

QEII National Trust is pleased to see the Tax Working Group’s recommendations acknowledged the scope for the tax system to support, sustain and enhance land protected by QEII covenants.

QEII National Trust CEO, Mike Jebson says “our covenantors know the value of investing in protected private land and we are pleased to see the Tax Working Group include suggestions that costs incurred in looking after land protected by QEII covenant should be treated as deductible expenses for tax purposes in their interim conclusions.” . .

UK farmers have edge on Kiwis – Jack Keeys:

Over the past 12 months I’ve visited numerous farms and agricultural companies throughout Britain. 

That insight provided an opportunity to observe New Zealand agriculture from an outside perspective and get a clear comparison with those on the other side of the world. 

Driving through Scotland, Ireland, Wales and now England I see the farms here exhibit a large variation in size, topography, climatic conditions and pasture management. 

However, some broad commonalities become very apparent.

The farms have insufficient infrastructure, they are under-stocked and have very inefficient pasture management.

Most farms require subsidies s to be profitable.  . .

Hunters under attack again:

Hunters all over new Zealand feel like they under an intense attack from the Conservation Minister Eugenie Sage who has let her personal hatred of wild animals cloud her judgement.

“This mass killing of up to 25,000 Himalayan Tahr is unprecedented in this country and about one million kilos of meat will be left to rot on the mountains of New Zealand. The stench and pollution of headwater streams will be on the Minister’s head. This is our food basket on which many families rely on.” says Alan Simmons President of The NZ Outdoors Party. . .


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