Post by University College Dublin

🇳🇿🛢️ Nearly 60% of New Zealand's petroleum reserves are held offshore in other countries. As global tensions disrupt oil markets and put pressure on key shipping routes, that model is being tested. 🗣️ "To bolster its energy security in the meantime, New Zealand could look at increasing strategic onshore reserves, while shifting away from ticket contracts toward physical stockpiles to support critical sectors such as farming and freight." "At the same time, it could make a greater push toward electrification and the uptake of alternative energy sources, particularly by powering transport with renewable electricity." "Ultimately, this requires an orderly transition away from oil altogether, with a clear national focus on reducing dependence over time." "Right now, New Zealand’s strategy is a gamble on global stability. To protect the economy from future global oil supply shocks, it must bring its petroleum reserves home – then work hard to make them obsolete." ✍️ Olga Dodd, Senior Lecturer in Finance, Auckland University of Technology and Adrian Fernandez-Perez, Assistant Professor in Finance, UCD Lochlann Quinn School of Business 🔗 https://lnkd.in/eh4U5p_J #EnergyCrisis