How the fossil fuel companies worked to derail New Zealand’s transition to a low carbon economy.
Who: Dr Terrence Loomis
Entry: Koha to The Earth Hub.
The climate crisis is worse than previously thought, according to scientists. 100 fossil fuel companies are responsible for over 70% of the world’s runaway emissions.
These corporations have long known their products are killing the planet. They comprise what political economists call a ‘harm industry’ whose business model depends on off-loading their externality costs onto the environment and society. This places them on a collision course with governments, communities and progressive businesses seeking to cut emissions and end reliance on fossil fuels.
When the Labour-led Coalition came to power in New Zealand, promising to end the country’s reliance on fossil fuels and transition to a low carbon economy, the petroleum industry saw the writing on the wall. This is the story of how they worked to derail the transition.
Speaker: Dr Terence Loomis specialises in the political economy of the oil and gas industry. He was Professor of Development Studies at Waikato university before becoming a policy advisor under successive National and Labour governments. His 2017 publication Petroleum Development and Environmental Conflict in Aotearoa New Zealand was written while he was a Visiting Research Scholar at Victoria University’s Institute of Governance and Policy Studies.
Dr Loomis has recently launched his latest book The Predatory Delay Diaries: The petroleum industry’s survival campaign to slow New Zealand’s transition to a low carbon economy. Dr Loomis also serves as coordinator of the Fossil Fuels Aotearoa Research Network (FFARN).