Monday, 29 August 2011

Christchurch quake cost added to our yearly oil import bill?

Denis Tegg has written another great piece analyzing what could happen to oil prices in the next few years.

That is, if the economy doesn't implode before that.

By 2015 New Zealand could face an extra $10 billion cost each year to import oil, compared to 2011 prices. That's more than the cost to government of the Christchurch earthquake each and every year! By 2020 the oil import cost each year could soar to $19 billion more than the present cost. That's the bill for two Christchurch earthquakes every year.

How come?
For article GO HERE

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