The Government is in the process of handing out oil exploration permits which would if unchanged allow drilling 6 nautical miles out from the west coast beaches of Auckland. And Auckland Council had the chance to submit on the proposal and did so, in a very gentle way, but forgot to ask the locals including the local board. There has to be a better way.
John Key’s government is going full tilt at dismantling everything of value in NZ, and selling as much as possible to the overseas investors. It’s the government of Drill It, Mine it, Sell it. Find out about the asset sales referendum & how to vote.
So, Mighty River Power has so much spare cash at the moment that it just doesn’t know what to do with it. Rather than pay out a special dividend, they’re going to buy back some shares. This, naturally, has raised eyebrows because these shares were only just sold to ‘mum and dad’. But the bigger question is: where did Mighty River get a spare $50m in the first place?
John Key’s role as Obama surrogate in chairing TPP discussions at APEC just reinforce how much Key is deeply involved in crony capitalist, Big Corporate serving networks of influence: ones that link him with anti-democratic Big Tobacco, Big Oil, and climate change denial propaganda.
Simon Bridges has been keeping a low profile lately but he’s in the news again today, and onceagain he’s been caught being somewhat less than honest.
It turns out he’s been caught trying to bury a report showing a huge quarterly jump in electricity prices.
“I just utter one fear…”
Remember that?
Sometimes the most complicated and complex situation becomes clear when viewed from a simple and obvious perspective.
Meanwhile back in the real world, the nuclear disaster at Fukushima is creeping back in to the headlines, for all the wrong reasons.
National spent $30m of our money to save (some of) the 800 jobs at Tiwai Point (for an extra year). People have reasonably pointed out that’s the a lot of money – especially when government agencies are routinely destroying jobs by sending work overseas over contract prices that save far less. But what about the broader picture: did the Nats consider the opportunity cost?
Yesterday John Key gave $30 Million of tax payer’s money to Rio Tinto in order to prop up its electricity deal with Meridian – and thus to prop up his privatisation ideology. Mighty River Power shares took a hit. Smart investors getting out?
John Key just spent another $30 Million of tax payer’s money to prop up his privatisation ideology.
There’s an issue for solar power about to hit: Standards NZ’s new proposed standard requires the use of a particular, untested, inverter which is not expected to even exist until July 2014. The current 2005 standard on solar power production allows electricity lines companies to enforce their own set of standards onto independent solar power installers.
The leaderless uprising in Brazil exposes unbearable inequalities in a dysfunctional post-growth world. Extravagant sports events and expensive stadium contrast with anti-public service austerity measures. Home building lags in Christchurch, while Key looks to asset sales to fund a stadium.
I/S at No Right Turn on deep water drilling off our coast line.
The polls are in. Despite an unprecendented assault by the capitalist forces to protect the profits of the electricity companies, the people want change, they want lower power prices. A TVNZ poll shows 57% of people support for the Labour/Green NZ Power plan, while the TV3 poll shows 54% support. So, keep on howling, Righties. Keep putting profit before people.
The Nats have tried to do too much too soon, and now the wheels are obviously falling off their sad “flagship” privatisation programme.
John Key has been caught in yet another lie, over his claim that Solid Energy asked for a $1 billion injection of taxpayer’s money.
The Right unleashed the most brutal campaign in living memory against an opposition policy when the Greens and Labour announced the NZ Power plan to bring down power prices. They (rightly) saw it as a challenge to the whole rentier class that has been bleeding NZ dry for quarter of a century. It’s heartening, then, that the Right hasn’t managed to fool people.
Following the Labour and Greens’ rejection of their demand that the parties drop their NZ Power policy to lower power prices, the business elite has announced capital flight. ‘If Origin Energy loses its rentier profits, who’s next? said Phil O’Reilly, close to tears, ‘The banks? The Telecoms duopoly? The petrol companies?* The construction materials oligopoly? The ports and airports?
The chief executive of the New Zealand Manufacturers and Exporters Association supports the Labour / Green electricity proposals.
The “market specialists” say that the loony left have scared of all the Mum and Dad investors. The “investment sources” say the Mums and Dads are signing up in droves. I’m so confused! Why oh why would those nice “market specialists” be lying to us about the effects of the Labour / Green electricity policy? I just can’t work it out…
Yesterday, Phil O’Reilly’s Business New Zealand basically declared war on Labour and the Greens. Their ‘open letter’ demanded opposition parties to withdraw the NZ Power policy or risk a capital strike. Unprecedented in modern NZ history. It was a boots and all attempt by the capitalist elite to try to monster the Left. It proves that they think NZ Power is both practical and popular.
A couple of people have questioned this series of posts outing the financial interests of supposedly ‘independent’ commentators who are coming out against the Green/Labour plan to lower power prices. ‘Everyone has links to everyone in New Zealand’. Maybe so, but not everyone is paid by the people whose interests they’re protecting while pretending to be independent in the msm.
Hot on the heels of electricity industry funded Lewis Evans publishing an op-ed about how terrible NZ Power is, another academic has popped up to claim the policy is the end of the world.
An Advantage New Zealand conference at SkyCity is the centre of major PR for John Key-backed, big oil exploration in NZ. While promoting and backing each others’ destructive profiteering, and endangering NZ’s environment, they are nurturing their networks of influence over expensive dinners and on the golf course.
Lewis Evans had an op-ed in the Dompost yesterday. It attacked NZ Power in confused terms. Evans claimed, for instance, that all the savings from lower costs would come from lower dividends to the Government, when a moment’s thought shows you that’s not true and will be even less true after the asset sales. The disclosure statement at the end of Evans’ op-ed doesn’t mention Contact and Meridian pay him.
National and their proxies have claimed that Labour / Green NZ Power announcement has crashed the stock market and wiped out savings. Lies lies lies. Here’s the data.
Aotearoa is Not for Sale is counting down to the National Day of Action this Saturday 27 April. Now is the time to support NZ (People) Power & say there are alternatives. Get your banners & placards ready, polish up your chants and slogans, and get ready to make some noise. [Update: added poster][Updated posting time to move it to the top today] Update – AKL photos]
A Jackson PR video promoting NZ scenery as a beautiful backdrop for the Hobbit & tourism; a Campbell Live video on a Dannevirke protest against Big Oil exploiting their area; an anti-fracking Canadian team filming in NZ.
Brokers and analysts, you’ve nothing to lose but your fees. (although there’s already been $200million from the taxpayer). Now Steven Joyce has turned to the axe-grinders for support. There couldn’t be a clearer indication that Joyce and National are on the side of investors with money to burn, while Labour and the Greens with are on the side of the consumers who worry about turning on the heater.
Which is really the party of “economic sabotage”?
Eddie explored yesterday who stands to lose from falling asset values in electricity companies resulting from lower power prices. The answer: the Crown and foreign investors. Now, JBWere has estimated those book value losses at up tp $1.4b for Contact and Trustpower, meaning $4b all up. But, despite the cries from the Right, that doesn’t mean wealth is being lost, it’s moving.
New Zealand’s energy pricing over the last twenty years was thoroughly canvassed by Dr Geoff Bertram last year in a paper presented to the Fabian Society as part of its “Light-handed Regulation” series. In the light of the Labour/Greens’ announcement last week about NZ Power his paper is well worth a read.
The government announced about an hour ago, that it has suspended the share offer for Mighty River Power until tomorrow, while it devises a supplementary disclosure in the light of the Labour-Green NZ Power policy.
Aotearoa is Not for Sale is counting down to the National Day of Action this Saturday 27 April. Some people have explained why they will be joining the Day of Action on Saturday. Why do you support action against asset sales? What are the alternatives? [Updated: details of actions around NZ]
