Latest / Early Edition with Ryan Bridge
Ryan Bridge: A billion-dollar Gamble on oil
New Zealand First wants to spend a billion bucks looking for oil and gas fields to make our country rich again.
Well, richer.
A bit more like the place our kids go to earn a living, Australia, who've pulled in $430 billion in mining royalties over the past decade alone.
A bit more like Norway, where per person GDP is $153,000, one of the highest in the world, ours is only about $85,000.
The Norwegians, of course, got a big boost from oil post 1960s and have a $2-trillion wealth fund, which pays for the stuff the Greens and Labour here could only dream of.
And herein lies one of two big…
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