Six Unique Years

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.