John Fedup
The Bunker Group
No way because there's all them luverly minerals, including hopefully hydrocarbons in the NZ Antarctic territory, just waiting to be extracted. In order to fully fund Defence, we just need to start extracting the oil and gas in the Southern Basin just below the South Island. It is thought to have significant hydrocarbon resources possibly on par with the Saudi fields or greater, but it hasn't yet been fully explored and quantified.
Isn't there a ban on mineral extraction from the Antarctic? With regard to oil and gas, climate change awareness will make most future projects in both polar regions less attractive to energy companies. It is less expensive to concentrate on extraction from easier regions and there would be less political hassle. The latter point would be especially true in NZ's case. It will interesting to see how both Canada and NZ approach development of their fossil fuel resources in their respective polar regions given the increasing opposition to continued use by our electorates.