as I predicted at the beginning of the FORESHORE and SEABED saga. it is all about OIL. as usual the govt. lied to us!
...and it's all been planned since 2000 or earlier:
http://www.ig.utexas.edu/research/projects/canterbury/?PHPSESSID=def1b9
...and,a recent article:
An Australian consortium of oil companies will begin drilling for oil in the Canterbury basin in August.
Beach Petroleum says seismic surveys suggest the Cutter 1 well could contain a reservoir of 80 million barrels of oil equivalent (boes).
The well is located 21km off the coast near Oamaru, about 100km north-northeast of Dunedin.
It will be drilled by Beach and two other investors, Tap Oil and Australia Worldwide Exploration.
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What exactly does this have to do with ...
What exactly does this have to do with the foreshore and seabed? are you saying that the countries oil reserves are the exclusive domain of the Maori now?
The reason an overseas consortium is exploring is because it probably isn't economically viable for New Zealand companies to do it, Maori or not. ...
I think what he's saying is that the ...
I think what he's saying is that the reason why they changed the law is so that Maori would have no claim to oil (or other mineral resources) in the foreshore and seabed.
I'm not convinced. If there is oil or gold under your house or farm you don't own it. The government does, and they can give the right to extract it to whoever they like.
I'm pretty sure taranaki tribes/landowners are already embittered by not getting any money from oil/gas under their property. In fact, I'm pretty sure there've been court cases over it...
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exactly my point. if Oil was drilled ...
exactly my point.
if Oil was drilled on land (which would be cheaper) the govt. would have to
make some kind of deal with the owners of the land. So, to counter that
they bring in a law to make it clear that no one owns, or has rights to
the foreshore and seabad.
no ownership - no deals.
interesting link limegreen:
'All naturally occurring gold, silver, uranium, and petroleum in New Zealand is owned by the Government.'
I wonder where all the profites go?
do we get a tax cut if they make a bilion dollars from oil ?
//the govt. would have to make some ...
//the govt. would have to make some kind of deal with the owners of the land
actually, I don't think they do. I don't think the people who live in Waihi who live over the goldmines (which are now collapsing) particularly have much say over what goes on underneath.
//I wonder where all the profites go?
They don't make a lot of profits (see the link below). Because exploration and mining is so expensive, the government basically takes a 5% cut of the profit of the company from the sale of that product (at least for oil).
//do we get a tax cut if they make a bilion dollars from oil ?
If they made billions, then yes(!), although they might choose to pay off government debt first (although given that tax dollars are used to pay that debt currently, you'd still expect tax cuts, or an increase in govt services). There is a reason why Kuwait (at least used to) have no government debt, and some other places have very lavish govt services....
and the link......
and the link...
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interesting....
interesting.