6 years ago
New Zealand may have just killed its oil industry
New Zealand has stunned the energy industry by slapping a new cap on drilling for oil and gas in its waters as part of efforts to combat climate change. Prime Minister Jacinda Ardern announced Thursday that the government will "no longer be granting any new offshore oil and gas exploration permits." "This is another step on our transition away from fossil fuels and towards a carbon neutral economy," Ardern said in a speech.
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