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[NZ] Govt has no plan for high oil prices

Scoop, 21 October 2010

Minister of Finance Bill English demonstrated that the Government has no plan for coping with high oil prices, said the Green Party today. An independent report published by the Parliamentary Library last week states that another oil supply crunch is likely to occur soon after 2012 and high oil prices will be sustained in the future because low-cost reserves are near exhaustion.