Guest essay by Eric Worrall
Coming soon to the USA? Pathfinder Ethical Investment Fund manager John Berry advising on what sectors to avoid to protect your money from New Zealand’s Climate Emergency. But the reality is there is likely now no safety from damaging political interference, even if your interest is green energy.
Monday thoughts: Investors can’t afford to ignore climate change
John Berry
05:00, Dec 07 2020OPINION: This week, our government announced a climate emergency, following the lead of the UK, France, Canada and Argentina. This reinforces our target to be carbon neutral by 2050 and supports our Paris accord commitments.
Declaring a climate emergency challenges investors by highlighting the future impact on corporate operations and profitability.
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The most widely used tool for investing responsibly is exclusions. This means avoiding investments that cause harm, and is typically applied to weapons, gambling and alcohol companies.
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But simply avoiding companies will not bring change. For this reason, exclusions do not go far enough.
A positive lens to investing can be applied by using environmental, social and governance (ESG) factors to assess companies alongside traditional financial metrics. There’s plenty of research globally showing this analysis helps create lower risk, better performing portfolios.
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A final strategy for responsible investors concerned about climate change is to narrow the investment universe only to positive themes that benefit our planet. These themes could include water companies, forestry and renewable energy like wind and solar manufacturers.
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John Berry is co-founder of ethical investment manager Pathfinder Asset Management, and ethical KiwiSaver provider CareSaver.
Read more: https://www.stuff.co.nz/business/opinion-analysis/300176326/monday-thoughts-investors-cant-afford-to-ignore-climate-change
What a nasty uncertain regulatory environment for New Zealand investors.
At any moment oil companies or airlines could be slammed with punitive taxes, under the aegis of addressing the climate emergency. But history suggests that when unfashionable but vital business sectors begin to collapse under the weight of punitive regulations, they could also receive surprise government handouts to enable them continue operating.
Australia is already in the midst of experiencing this sorry mess. When vital coal power plants started closing thanks to a hostile business environment maintained through successive administrations, the Australian government panicked and started signing murky support deals which likely included substantial cash subsidies to keep ageing coal plants operating – Australia still needs the power they produce.
But you cannot rely on handouts arriving in time to save your investment, or being continued for a predictable period – so those decrepit coal plants are likely being run into the ground with minimal maintenance. Nobody is interested in replacing them with new plants.
“Ethical” green investments are no better. Even if you stick to Berry’s advice and invest in wind farms or solar plants, the subsidies your investment needs to be profitable only exist at the pleasure of politicians and bureaucrats. As Green investors in Spain learned in 2010, such subsidies can be withdrawn without warning if the government runs out of money.
Even fostering a special relationship with government won’t necessarily provide protection; plenty of very large investors, regardless of what relationships they thought they had, were badly caught out when Spain abruptly broke all their agreements and slashed renewable energy subsidies.
The unpredictable investment landscape created by New Zealand’s climate emergency declaration amounts to a substantial reason not to invest in New Zealand, even if your interest is green energy. Politicians have effectively seized control of the formerly free market. The investment capital of New Zealand investors is now effectively under the control of politicians and bureaucrats. Profits now exist at the whim of social justice warriors.
History suggests fair treatment of investors will be at the bottom of a very long list of SJW concerns.
When you own the media you can direct anything ….. until the people figure out your motives. I think people are too educated today to let AGW hysteria go on forever. Taking a step back in evolution isn’t acceptable and no amount of lies will convince people otherwise.
Venezuelans thought so too. Their elections are being stolen once again today. They voted themselves into socialism come a dictator for life. Now they’ll have have to shoot their way out …. without guns. ooppps. most of the smarter ones have just fled already.
The US election is being stolen, using machines developed to put Chavez in earlier, as boasted by Lord Malloch-Brown of Smartmatic. The wannabee Guaido recognized Biden first.
You just could not make this stuff up.
“People are too educated today”? Really. I do hope you’re right.
30 yrs of dumbing down the kids and green agitprop in all systems from kinder
no sorry i do NOT think we have educated thinkers from that
let alone thinkers
we have followers and faithful believers conditioned to be and remain so.
;-((
exactly. Most haven’t been watching, the Western educational systems have been turning the crank the wrong way. If you can be convinced that Joey is a girl today and a boy tomorrow, what will you not believe for just as much logic?
Maybe, it’s all part of a long-term plan: http://invisibleserfscollar.com/
See, they said this declaration was largely symbolic. They lied, as they always do. This “symbolic declaration” will now be used in various regulatory and non-regulatory ways as a real declaration would be.
One can also ask what sense a “symbolic declaration of climate emergency” even has.
The behavior of climate alarmists, rather than their statements, tells you all you need to know about how serious they think the “climate emergency” is. Clearly, they don’t act like it’s serious at all. They’re still driving fossil-fueled cars and participating in the fossil-fuel eceonomy as much as anyone else. But their innate tyrannical tendencies impel them to write rules to force everyone else to obey their diktats. It makes them feel sanctimonious and powerful.
Just yesterday, one of are warmunists declared that he had no problem with China and other developing countries increasing the amount of CO2 they emit.
When push comes to shove, they just can’t keep themselves from revealing that the goal has been wealth distribution from the get go.
So they don’t have the problem with more than half of the total CO2 being emitted? Lovely.
And the public believes them when they say “Earth has 18 months to live” while Chinese and Indian CO2 is harmless. I’ve seen university graduates from IT who can program complex stuff not being able to connect the dots here. It’s like normally intelligent people shutting down their minds to regurgitate learned propaganda. Pathetic.
The goal has been Socialism from the get-go. Wealth redistribution is but just one aspect of how those Socialists maintain power.
“Joel O’Bryan December 7, 2020 at 8:17 pm
The goal has been Socialism from the get-go. Wealth redistribution is but just one aspect of how those Socialists maintain power.”
I would call it wealth robbery. Stealing from the poor and middle class and giving to the uber rich!
The wealth has already been redistributed, only in the opposite direction of your Alice in Wonderland scare-mongering;
So whose goal was that?
“Loydo December 7, 2020 at 10:31 pm”
I wonder how and who determines inequality? Wasn’t clear at that website.
No more flights to New Zealand. Sailboats only, then quarantine for a year.
If only.
Climate emergency?
There’s a bit of a wind drought lately
Get to know who control you.
Have a look at page 33 of this study by Stefania Vitali, James B. Glattfelder, and Stefano Battiston.
On page 33 you can see a list of the top 50 corporations in charge of Planet Earth, inclusive NZ.
Place 1 = BARCLAYS PLC
Place 50 = CHINA PETROCHEMICAL GROUP CO.
The study is from 2007 from a group in Switzerland.
Meanwhile the state pension fund in Germany is in need of being saved from ruin, so Angela Merkel & Co. will meet to dictate who is going to pay and if the pensioners themselves will have to miss out of their daily bread.
To make things better komrate Merkel says to the newspaper Bild, that after December 27th the lock-down will be serious, following Denmark’s newly insane mass jail terms already initiated.
It all makes sense. Wasn’t it one or two persons from the British royalty who said we should not be more than 500 million on Earth and that “I would like to be reincarnated as a bad SARS-CoV-2 virus”
That sounds like something Chinless Charles would say.
It was his dad.
And living in close proximity at Balmoral the Royal herd is likely immune.
to reality?
yes its just not in their world view.
see Liz is going to accept the jab as is the hubby
dunno if thats a good idea the second dose side effects might be UN royally acceptable
the pharmas have total legal immunity(pity their products dont provide as much as theor ass covering deals do?)
but what would happen if a royal succombed to serious adverse events one wonders???
Yes, NZ has faced collapse of essentials before.
Look what the ongoing effects of the collapse of vowel supply have been.
One debilitating effect that has been suffered worldwide for decades past is the back-up of arrivals queues at international airports, caused by immigration officers trying understand what Kiwi passengers are saying without using any vowels.
Trained interpreters have so far been ineffective at solving the disconnect in Kiwi verbal communication where vowels are entirely absent.
So if anyone is looking for a great investment opportunity, go long on any biotech startup that’s developing a pill that provides a fast-acting vowel infusion.
(Just make sure they get the pill color right – it must be GREEN)
What you mean absent vowels? I have heard that New Zealanders are the only people in the world that talk clearly using the Queen’s English correctly and enunciating all the vowels perfectly and without a hint of an accent. Pssst…..I am a kiwi.
From “The Land Of The Long Lost Vowel”? 😃
Stick it in your chully bun, bro! Best wishes!
I heard that too , but that was before NZ secondary schools replaced English class with Integrated Studies.
Does “integrated studies” also teach that the NZ national anthem is “I Still Call Australia Home”?
If it teaches anything , it teaches the regurgitation of learned propaganda and disinformation.
There was someone a long time ago wanted to change the lyrics to;
“New Zealand is so very very very very good!
New Zealand is so very very very very good!
New Zealand is so very very very very good!
New Zealand is so very very very very good!”
And so on…
Because migrants to NZ were not good English speakers and had trouble with the anthem as it stood. I am glad he was laughed out of the studio.
NZ muxes up iny vowels eh. Uts eccint us strenge eh. Uts berely Unglush eh.
Obviously you’ve spent quite a bit of time in NZ – “getting amongst the people” Mike . I wouldn’t advise it.
I dunno, the bist six life I had for 10 years was in Nuh Zilund.
;-)) closest comparator is Seth effriken, sometimes it takes me a minute or two to figure where theyre from, they can be very similar
Jesis crast min!
so you eat fUsh n chUps often then?
you guys do have vowels
its just that you confuse I with E
not sure about your A and E or U either;-)))
grins from the bigger Island
When I was on my OE in Oz I was often asked if I was a Pom, but when in England I was often accused of being from Oz. A fellow kiwi holidaying in USA was trying to buy a flight back to Auckland NZ and was sold a flight to Oakland California. Thought he had got a really cheap deal !
That’s funny right there – I don’t care who y’are.
Would it be possible to get an NSFW warning for pictures of that wannabe dictator?
I can’t even watch the news anymore for fear of throwing something at the TV in response to her ramblings.
She’s not only afflicted by the vowel supply problem, but also a ‘T’ supply problem.
And don’t get me started on her politics…. a conniving cuckoo dressed as a white dove.
I’d like to see a cost/returns breakdown.
cost means nothing when you are “saving the planet”
That’s why I’d like to see what’s specifically outlined under ‘returns’ – because it damn sure ain’t saving the planet.
SJW?
Social justice warrior
Here’s a similar example like NZ’s of the futility of declaring “climate emergency” –
the city council of my local country town of ~ 30,000 population has also declared a “climate emergency” and has handed over an undisclosed amount of $$$$s to some foreign consultancy to produce a “municipal plan” to tackle this emergency.
(This for a city council that can’t fix numerous potholes in our main street)
Anyway, buried in the details of the published “plan” is the disclosure that while the average per head emissions for people across our country are currently ~ 9 tons per annum, the average per head emissions for our municipal area are currently ~ 2.4 tons per annum.
My question to the council was – “why are we bothering with this “emergency plan”? We’re already where most other places aspire to be.
I reckon the same could be said for NZ.
hope youve done a letter to the editor to wake the townsfolk up?
I repeatedly did that when my local council paid thousands to CIGIAR mobsters
not much got said publicly but I noted our town vanished off the list some time later;-)
If you have enough money to invest, that makes you part of the evil rich. At least that’s how progressive thinking usually goes.
Investors tend to invest where they are welcomed and avoid the the rest.
Along these lines, my old (Fortune 100) company assigned country risk to operations in country. Same should be done by investors. Countries run by certain politicians/governments should be avoided, including avoiding investing in companies heavily dependent on those countries. Sad point is right now, it’s getting hard to avoid all the problem countries.
I’m a New Zealander and I **DESPISE** that woman.
The problem is – half of the voting population here have “drunk the Kool-Aid” and have fallen in love with her. They have bought her lie that “we (the govt) acted promptly on Covid” – it actually took them 39 days until they did anything.
They’ve been seduced by free stuff. New Zealand is currently in a very favourable debt position, so Ardern has access to a lot of borrowed cash to burn, before she runs out of ways to hide the economic wreckage she is causing.
Buried in the middle of last week’s Transpower Security of Supply weekly update was this gem:
“OMV yesterday announced that planned production for Pohukura will be around 39PJ in 2021, this represents a 40% decrease in production from 2019. This announcement comes off the back of a long term investigation into the unexpected decline of production from the Pohokura field since May 2020. We anticipate that this decline will cause a constraint on thermal generation if we experience extreme dry year conditions.”
That’s a 40% reduction in output from NZ’s largest gas field that provides half of all the gas consumed in the country. New Zealand just lost 20% of its total gas supply to our cities, hospitals, industries, dairy companies and homes, not to mention the big users like Huntly and Stratford power stations as well as the Methanex gas to methanol plant at Motonui, and not a peep from the media or the Government.
If used for electricity production, that loss equates to about 370 MW of continuous 24/7 generation. That’s equivalent to the output of about 12 windfarms the size of the new Waipipi or Turatea ones that are still under construction.
So what are the choices to deal with this real emergency?
Shut down the Motunui gas to methanol plant (and lose $0.75 billion a year).
Stop burning gas at Huntly and Stratford and start using hydro storage faster than it is being replaced and hope for more rain.
Burn strip mined Indonesian coal at Huntly flat out for the foreseeable future
What do you think the electricity industry is doing already? Yes that’s right – burning coal flat out at Huntly!
So why don’t we just search for more gas? Well this government banned that three years ago.
But not to worry, the Government has just declared a Climate Emergency so sustainable and environmentally safe solutions will be coming shortly.
Indo coal?
why?
aus is closer for shipping and high grade
or is it purely money ie ex rate influenced?
NZ coal is even closer , and high -grade.
Makes sense .
Indonesia Thermal Coal Price US$49.42/tonne
Australia Thermal Coal Price US$62.82/tonne
NZ always buys the cheapest even if it comes from strip mines in the jungle. As long as we can’t see the horrendous environmental destruction we don’t care. Even better if its in a foreign country. Our own coal mining is restricted by the Greenies and we can’t supply the volumes needed at short notice.
Under Ardern NZ will follow UK, EU and now US, developing into a corporate state, a tendency speculated by James Burnham in The Managerial Revolution (1941).
Robert Conquest, Slouching Toward Byzantium (2005):
‘… there is a tendency in the West to move in the direction of a non-totalitarian but nevertheless single-minded corporatism — stultifying and intrusive on law and liberty … political parties become more and more alike … the largest and most intrusive and expanding element is, of course, the new bureaucracy …’.
https://www.hoover.org/research/slouching-toward-byzantium
Bureaucracies in large corporations and governments are indistinguishable and have one overriding mission, to grow.
Pournelles Iron Law of Bureaucracy
“ John Berry advising on what sectors to avoid to protect your money from New Zealand’s Climate Emergency”
I thought this meant he was sensibly telling us to avoid renewable sectors i.e. a lone voice against the ESG mantra that’s swamped my Twitter feed. So…still waiting.
For fun I actually threw darts at the newspaper stock exchange page and tracked the five companies for about six months. I ended up ahead of the DJA at the end but only because I had hit a Canadian Tobacco company.
Reality seems totally counter to the advice in the article.
I bet she has no trouble eating corn on the cob.
New Zealand is the real World equivalent of Noddy Land in which reality is overtaken by an Enid Blyton style political system which is attempting to force the local population into a preconceived economic system that will not work. The fact that no one can understand them even when they speak English will not save them.
NZ’s share market seems just fine Eric. Thanks for caring though.
And Eric, seeing that you seem to have such a great feel for the share market, how are those deadbeat Tesla shares going that you seemed to think had no future? Oh that’s right, up 600% this year alone. Still I’m sure they will plummet… unless this guy is right…
https://www.marketwatch.com/story/theres-only-one-company-that-could-get-in-the-way-of-teslas-path-to-2-500-and-its-not-an-automaker-says-veteran-tech-investor-11607376292
Thank goodness I bought a few recently. And just quietly, I might buy a few more.
I admit it didn’t evaporate the way I thought it would. But even CNBC is still expressing concern. Time will tell.
https://www.cnbc.com/2020/12/03/kelly-evans-being-wrong-on-tesla.html
Bernie Madoff took $billions from the Simons of the world for over 30 years.
https://en.m.wikipedia.org/wiki/Bernie_Madoff
Elon has got a long way to go yet.
And the Simons will keep his $$$$s rolling in. 🤪
There’s a reason that they are known as Simple Simons
Simon, small investors are piling into Tesla shares. Meanwhile, Tesla is one of the most shorted shares on the American stock market by professional investors. I wonder who is going to be proved correct?
and professional investors have lost a bundle on shorts. That doesn’t mean they’re not right about Tesla, just that it could be a long time yet before their being right is reflected in the stock price. The business fundamentals of Tesla are not good (Tesla uses up more money than it makes in a year, every year. eventually that catches up to a company, the only outstanding question is when) especially if you take away the subsidies such as the regulatory
indulgencescredits that sees Tesla’s rivals (Ford, GM, etc) pumping half a billion dollars or so a year into Tesla’s coffers (and still Tesla spends more money that it takes in).A trend is a friend until it ends. If Tesla fails, its shares will fall 100%. If it succeeds, its shares will fall only 90%. That shows the enormity of the bubble in Tesla shares. I have never seen a share price as detached from reality as Tesla’s.
Eric
Good on you for admitting you may have got it wrong (at this stage). I admire that. But as you say time will tell. Hope you don’t mind, but my share account is hoping you keep being off target.
I had a chat to a senior car sales exec today, I was interested in doing a drive test / review of EVs.
It looks like EVs aren’t really a thing in Australia. From what he was saying sales are almost entirely subsidy driven, largely by generous Norwegian subsidies.
Obviously its up to you what you do with your money, but I’d personally be nervous about putting my money into a company whose profits appear to be dependent on the whims of politicians.
Eric
If you drive a Tesla 3 you wont want to give it back. Sooo much fun.
And I am always nervous wherever my money is invested. I wouldn’t invest in a company like Tesla unless I could afford to lose it.
I’m not against the idea of EVs Simon, I’ve said before I could imagine myself driving someday. But I am against pricing people out of the car market by banning gasoline cars, and I don’t think current generation EVs are suitable for much beyond a little short distance urban commuting. If you ever need to do a few long distance drives, and who doesn’t need to drive a long way sometimes, having to use an EV would be a pain in the butt.
Indeed Eric, For certain individuals with specific driving needs, an EV would be a perfectly fine car to own.
However, such individuals are a small niche – mainly urban, but with a home that includes a garage or other means of charging at home, who regularly commutes small distances, in areas of the country that don’t often get extremely cold for extended periods of time during the year, and who can afford the premium price that EVs (even with “tax credits”) command.
But, for those who don’t have means of charging at home (apartment dwellers for example), or who regularly travel long distances (rural folks for certain, but even urban dwellers can have need to travel long distances. for example to visit relatives in the countryside) or live in parts of the country that have extremely frigid winter temps (Alaska for example), are among the poorer segments of the population, etc an EV simply isn’t going to cut it and they have a long ways to go before they even have a hope of being able to.
From the link:
‘… just North America their “blue sky” scenario is $300 billion, and that’s predicated on selling five million solar roofs a year (plus Powerwall storage panels) …’.
Nevada would seem an ideal location to demonstrate the efficiency and economy of Tesla solar panels and batteries as the future of electricity generation.
Is the Tesla Nevada plant still connected to the grid, why isn’t the entire roof covered with its own product and could that be an electrical substation below the big tank?
Has Tesla finally managed to put together back to back quarters where it made a profit?
Mark W
“Has Tesla finally managed to put together back to back quarters where it made a profit?”
You really do shoot first then think later don’t you (maybe I ‘m being kind abut he think later bit). Clearly you know as much about shares as you do about climate.
“Tesla made a profit of $331 million in the third quarter of 2020, its fifth straight profitable quarter “
Simon I can’t find where Tesla Motors has ever paid a dividend to investors.
So if that’s the case, they’re using your money for free, and the only way you can get a return on your investment is by selling it to someone else for more than you paid for it.
Basically drive-by flipper play.
How wonderfully capitalistic of Tesla supporters.
Mr., that’s because they haven’t.
1) until this past year or so, they’ve had annual losses. It’s only this past year that they’ve had 4 or more quarters in a row of claimed profit. Companies making annual losses aren’t in a good position to give out dividends
2) When it costs more to make your product than you get in revenue selling your product, you’re not too likely to spend your money giving out dividends. Those multiple quarters in a row profits mentioned in 1) come not for selling their product (cars) but from government regulated credits. take away the government regulated credits and Tesla would have ZERO quarters of profits. And while that credit revenue is currently rising (due to more stringent emissions standards) the sources of that money (other car makers) are ramping up their own EV initiatives (meaning in future, they’ll have less need to buy Tesla’s credits, so those credits are only a short term band-aid on Tesla’s long-term money losing business (selling EVs).
” Clearly you know as much about shares as you do about climate. ”
Shot!!
LOL . How’s the foot Simon?
I bet that hurt.
Has Tesla finally managed to put together back to back quarters where it made a profit?
Technically. yes. They’ve reported several quarters in a row of profit under generally accepted accounting principles (GAAP), however, that’s entirely down to the regulatory credit revenue, not actual profits from selling their product. Take away the credit revenue, and they’d be in the red (which is important to note, since the other car companies are ramping up their own EVs meaning they’ll have less need in future to pay Tesla for their credits).
Bottom line is that they lose money on every car made with the only “profit” coming from a government subsidy scheme (regulatory emissions credits).
err Simon…
Dec 8, 2020 7:31 AM
Tesla Drops After Announcing Another $5BN “At The Money” Stock Offering, 4 Days After Goldman Upgrade
Coincidence?
Can’t blame Tesla there, pretty wise move on their part. Musk knows the shares of his company are “too high” (and has publicly said so), might as well cash in on that as a means of generating cash for the money losing business (they’re certainly not profiting off of selling cars. It costs more to make a Tesla than it get back in sales. It’s only the regulatory credits than enable Tesla to claim to have made a quarterly profit ).
The article is about future trends. Simon counters by pointing out that everything is fine right now.
Yes, simon actually is that simple.
The share market is the main indicatory of economic success? How did that work in 1929?
“Tesla made a profit of $331 million in the third quarter of 2020, its fifth straight profitable quarter ” Trump seems to think so… but no, I get there are lots of pieces in the puzzle.
Is Tesla listed on the NZ stock exchange?
genuine question: Did the New Zealand share market crash along with the NYSE in 1929? (I would assume it did, but you know what Benny Hill says happens when you assume). All the articles I can find about the 1929 crash focus on wall street/the NYSE (and occasionally mention London’s SE) but don’t specifically mention any of the other stock exchanges such as the one in New Zealand.
Simon, I would not invest in any NZ company (like Fonterra) that goes along with the crap of the climate scam. I have put my ANZ shares up for sale because the CEO follows the woke line. There are better investments. I see that broker financial advisors rate CBA and ANZ at the bottom of the banks while NAB and Suncorp rate higher. Macquarie MQG also rates well. I have taken no hit through the Covid period and in fact am doing fine especially with US shares. Woke companies in woke countries will crash.
Unfortunately more and more companies in the US are caving in to woke crap. Get woke, go broke.
The reality is that, based on the paleoclimate record and the work done with models, the climate change that we have been experiencing is very small and is caused by the sun and the oceans over which mankind has no control. Despite the hype, there is no real evidence that CO2 has any effect on climate and there is plenty of scientific rationale to support the conclusion that the climate sensitivity of CO2 is zero. There is no real climate emergency but even if there were, mankind does not have the power to change it.
Remind me, is it still official NZ government policy to solve NZ employment by shifting all their skilled workers to the West Island?
New Zealand needs to be very careful. In practical terms its main industries are sheep and hobbits. Sheep don’t actually directly employ that many people and hobbits are in grave danger because the movie industry has been massively reshaped in the past 9 months and may never return to the ‘old normal’.
That basically leaves tourism and the All Blacks, and anyone who believes tourism is going to bounce back overnight probably needs a good sit down before they harm themselves.
“Craig from Oz December 7, 2020 at 8:10 pm”
True. But NZ’ers are temporary residents in Aus on a special 444 visas, thanks to another great NZ Marxist PM, Helen Clark.
A few lawsuits by former rugby players with permanent brain injury should put the skids under rugby commerce. There is still some confusion here as to whether tourists are essential or non-essential persons.
It does seem that the making of “movies” , also known as propaganda may improve one’s chances of being deemed essential.
New Zealand will have a bit of spare generating capacity to charge their growing fleet of Tesla’s when the Taiwan Point smelter closes next year. The 800MW that will become available will enable the 1234 Tesla owners in New Zealand to drive with gay abandon between charging spots.
Taiwan Point produces the purest aluminium in the world. Was in high demand for high strength aircraft alloys. I figure there will be fewer planes built in the next few years than there was in the years preceding 2020.
Rather than making aluminium for airplanes, New Zealand can now power their rapidly growing fleet of Teslas; which doubled in number in the last 12 months despite Covid. Investment in charging stations looking good.
New Zealand is the Norway of the Southern Hemisphere – even has fjords. They do not get paid to sink electricity from Germany though.
Given the trouble Australia has with the Tasman undersea power cable I don’t think anyone is in a rush to build an undersea power sharing cable to New Zealand.
How depressing but it is all happening and it appears unstoppable.
from a Kewe
Tiwai
I did spell it incorrectly but it was spellchecker that converted it to Taiwan and I did not notice.
It will not be good news for Invercargill.
a long cable to Taiwan
Jeez, dont say Taiwan Point, it will give the CCP just the excuse they need to annex us.
An explanatory video….
That is so funny. They’re like “where’s the car?” And we’re like “where’s the car?” Kiwi humour….