It's yet another layer of environmental impact that offshore oil exploration involves. From cradle to grave, oil and gas hits the environment.

What the NOAA letter does is confirm that the Navy analysis is fundamentally flawed.

As long as an all-out effort is made in exploration, it is possible to find new oil and gas resources in China.

This kind of figure is bound to generate negative headlines for New Zealand. Higher oil prices also suggest the deficit could widen further.

The oil is in the ground waiting to be exploited. But how do we get access to what is left? At the end of the day the drill bit has to hit the ground.

There's a geopolitical overlay that's going to look similar to oil.