ACC almost top shareholder in NZ Oil and Gas

[sammcj]

Not sure if anyone's seen this - ACC is the Number Two in NZOG's Top 20 shareholders!

http://investorcentre.nzog.com/phoenix.zhtml?c=171108&p=irol-ownershipsummary

http://media.corporate-ir.net/media_files/IROL/17/171108/top20nov09.jpg

[Mr Merde]

So raising the levy on fuel would be good short term for this company

Dont they have a vested interest in this company doing well.

[scissorhands]

It just gets more and more corrupt doesnt it. Fucking government for the people my arse

[rainman]

So raising the levy on fuel would be good short term for this company

Dont they have a vested interest in this company doing well.

Hang on... the ACC levy on fuel doesn't go to NZOG, it goes to ACC. So they're not double dipping. NZOG are at the exploration and extraction end of the process, not the fuel pump end.

Are NZOG involved in the Southern Basin oil thing? They might not be a bad investment, given oil is only going to get more expensive long term. Small company though.. only 20 people in Wellington.

[James Deuce]

It's bloody brilliant and an example of exactly what Government fund managers SHOULD be doing with taxpayer money - investing in stuff that will benefit NZ long term as well as making money for ACC.

They should keep that up.

[riffer]

Exactly Jim. Note the Cullen fund in at No 5.

[Ixion]

Well, they have ot invest that 12 billion in something.

Of course, an intelligent government would say "Well, we have a fund of 12 billion to invest. And one of the safest investments is housing. And we have a lot of Kiwis struggling to finance themselves into a first home. Hm. Sorted"

[riffer]

Well, they have ot invest that 12 billion in something.

Of course, an intelligent government would say "Well, we have a fund of 12 billion to invest. And one of the safest investments is housing. And we have a lot of Kiwis struggling to finance themselves into a first home. Hm. Sorted"


Might I remind you that's been tried in the US with disastrous results? Exactly how Fanny Mae and Freddie Mac came unstuck.

I believe if you did this the cost of housing would rise immediately to a nearly unsustainable level unless you regulated the market to reign in the speculators.

[avgas]

Government fund managers
I would ask myself some very simple questions when it comes to grey areas such as fund management.

- Is there a conflict?
- Should there be an established fund?
- What is the purpose of the fund?

Unfortunately with ACC in this case - I see major issues here.
Rather than paint them out for you - mabey you can have a think about it.

[James Deuce]

I would ask myself some very simple questions when it comes to grey areas such as fund management.

- Is there a conflict?
- Should there be an established fund?
- What is the purpose of the fund?

Unfortunately with ACC in this case - I see major issues here.
Rather than paint them out for you - mabey you can have a think about it.

The purpose of the fund is Compensate NZers and they need a steady stream of funds to do that. If they can do that by investing money that isn't used for it's primary task (you know, left over), which is exactly what they have been doing for the last decade at an average return of 8.7% then that means they can avoid passing cost increases on to the users - Us. Our levies don't need to go up. ACC makes money at 2-3 times the rate of inflation.

The guys who run ACC's investments need to take over the Reserve Bank as well.

[p.dath]

There is nothing wrong with ACC investing in NZ companies.

Would you prefer they invested in off shore companies?

[p.dath]

Now if we could just get ACC to invest in some motorcycle companies then they would have a financial reason to lower the levies to increase sales ... :2guns:

[FastBikeGear]

Now if we could just get ACC to invest in some motorcycle companies then they would have a financial reason to lower the levies to increase sales ... :2guns:

If I had shares in an oil company I would encourage people to drive cars instead of econmical motorbikes!

But I am confident that ACC doesn't think like I do.

[Waxxa]

"with all the various investments that ACC have partaken in Minister, why are the levies going up across the board for all NZers when the investments are producing a return?"

[flyingcrocodile46]

Well, they have ot invest that 12 billion in something.

Of course, an intelligent government would say "Well, we have a fund of 12 billion to invest. And one of the safest investments is housing. And we have a lot of Kiwis struggling to finance themselves into a first home. Hm. Sorted"

No good for them investing in housing. They know better than anyone just how sick our housing stock is. After all they wrote the building code and acceptable solutions that resulted in Billions of dollars worth of leaky rotten homes.<_<

[sammcj]

I guess (In a round-a-bout way) that it would possibly be in ACC's best interests that fuel companies are making money because they get better returns from their investment - correct?

I.E. Soccer mum in her gas-hugging Toyota Landcruiser is in effect earning ACC more money through her use of fossil fuels than say... let me think... A Biker! - Who's not using 1 / 10th the fuel.

[p.dath]

I guess (In a round-a-bout way) that it would possibly be in ACC's best interests that fuel companies are making money because they get better returns from their investment - correct?

I.E. Soccer mum in her gas-hugging Toyota Landcruiser is in effect earning ACC more money through her use of fossil fuels than say... let me think... A Biker! - Who's not using 1 / 10th the fuel.

If it's any consolation, NZOG export all their oil. Funny as it sounds, NZ exports around $1bn in oil each period (can't remember if it is per annum or per quarter), and imports around $900m.

Apparently the grade of crude oil is too high for the local market, and we aren't prepared to pay enough for it.

[James Deuce]

Not quite. We'd have to ship it elsewhere to get it refined. That's what adds to the cost. Light sweet crude makes exceptional kerosene and diesel and is very low sulphur (less than 0.5%).