Six Unique Years

Abstract

This article addresses the question of what caused the 1980 growth strategy which led to investment in major energy projects in NewZealand. It argues that it was a rational policy response at the time. However, the political goal of self-sufficiency in transport fuels was costly and inefficient. Pressure on construction resources and inflation led to unacceptable cost overruns and the forecasting of future prices was astray. As a result, the ventures needed financial restructuring. Some lessons for the imminent investments to combat climate change are drawn.