New Zealand Bans New Offshore Drilling, Citing Climate Change

New Zealand will stop issuing permits for offshore oil and gas exploration as it moves to combat climate change. 

“When it comes to climate change, our plan is clear,” said Ms. Ardern, a member of the center-left Labor Party. “We are committed to the goal of becoming a net zero emissions economy by 2050.”

The government said it would allow the existing 22 active offshore permits, covering more than 38,000 square miles, to run until their expiration, which is “as far out as 2030.

The decision is a lose-lose for New Zealand’s economy and environment, likely to threaten jobs and mean higher prices for consumers.

I'm not really sure how to feel about this - it's a great step forward for the environment - however taking loses in the economy isn't great either. 

Welcome to the 21st century. 

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