ACC almost top shareholder in NZ Oil and Gas

[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%).