Wednesday, March 12, 2014

National's gamble fails again

National's big economic "strategy" for the past six years has been to gamble on finding oil. Their sole vehicle for this is Texan oil cowboys Anadarko, but they came up bust in Taranaki, and now they've failed in Otago as well.

Texan oil company Anadarko says it's too early to know if oil drilling in the Canterbury Basin has come up dry.

Greenpeace said today the exploratory well drilled off the Otago coast, about 60 kilometres northeast of Dunedin, has failed to yield any oil.

It would be the second such failure for Anadarko, after a well off the Taranaki coast also came up dry last month.

And its unlikely they'll stick around to try again. good riddance. And now they're gone, perhaps the government could get a real plan?