New Zealand abandons Jacinta Ardern's 'net-zero emissions' policies

New Zealand is abandoning the previous Labour government's plan to achieve net-zero emissions by banning oil and gas drilling in the country.

This week, the government of Christopher Luxon unveiled plans to invest some $120 million of taxpayer money in developing new offshore gas fields to attract international oil and gas companies willing to participate in such projects, announced The Telegraph.

The announcement was made by Finance Minister Nicola Willis, who has made history the climate policy imposed by the previous Labour Prime Minister Jacinda Ardern.

In 2018, Ardern went so far as to claim that "the world has moved on from fossil fuels."

The decision comes after the implementation of renewable energy failed in New Zealand, generating higher prices and increasing the risk of blackouts.

New Zealand Resources Minister Shane Jones said Ardern's policies had been a disaster:

"Natural gas will continue to be critical in delivering secure and affordable energy for New Zealanders for at least the next 20 years. We are already feeling the pain of constrained supply."

Also, Jones said the country is focused on "growing the New Zealand economy, creating jobs and increasing prosperity and resilience. The Government is not prepared to sit on the sidelines and watch our industrial and manufacturing dwindle because of energy security concerns."