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Source: Pixabay

New Zealand Just Announced They Will No Longer Issue Oil Exploration Permits

By Brian Spaen

New Zealand is the latest country to ban future offshore oil and gas exploration in their area. Prime Minister Jacinda Ardern said on Thursday that climate change was a major impact in the decision. The move has a rippling effect on the fossil fuel industry and is met with criticism, but it shows how much opposition has increased over the years.

These actions come after Ardern accepted a Greenpeace petition to end oil and gas exploration with 50,000 signatures. The country’s 22 exploration permits that are currently active will not be affected after the announcement. Companies holding these permits are able to continue drilling under their expiration, with some going into 2030.

“By ending new oil and gas exploration in our waters, the fourth-largest exclusive economic zone on the planet is out of bounds for new fossil fuel exploitation,” Greenpeace New Zealand’s executive director, Russel Norman, said on their website. “New Zealand has stood up to one of the most powerful industries in the world.”