Ryan Bridge: Energy security will be hot this election

Energy security is shaping up to be the hottest item on this year's election agenda, and with good reason. 

Ask any business who's about to renew an energy contract, any transport business who's battling the price of diesel, or any factory or mill thinking about mass layoffs and shutting up shop. 

In Hawke's Bay, CEOs are organising an energy summit in June. Their business leaders voted energy as their top concern. 

Bombing in the Middle East might be in pause, bar Beirut, but the energy price battle is far from over.

And it’s time for our politicians to put their swords down and agree on a long term energy strategy that addresses the new world we’re living in. 

Post ceasefire, oil is still more than 30% more expensive than it was before the war. Gas is 40% higher. 

There’s a piece in The Economist, well worth a read, that sets out the problem well.

Infrastructure's been damaged and takes time to repair. When the tankers start moving, the insurance premiums will cost an arm and leg. That’s before ships take the risk of sailing in the opposite direction back into the Gulf again while a shaky ceasefire is in play.

We’ve now all learnt that a few drones and terrorists with speed boats is all it takes to choke supply. Oil will find a way, from other regions, or overland by pipes, but all this takes time and costs money.

I had Chlöe Swarbrick and David Seymour in my show yesterday and they both disagreed with each other on what mix of energy solutions we need to keep trucks, factories, and businesses moving.  

But the fact is they both have valid points and all parties should compromise and agree on an energy plan we can all agree on.

Whether that’s LNG, over-building renewables (as Sir Rod Drury argues), more drill baby drill, tanks at Marsden Point, coal for Huntly, or a combination of all of the above, political consensus is the missing ingredient to make ensure NZ Inc can keep the lights on. 

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