7. Regional Economic Development—Offshore Petroleum Exploration Permits and Provincial Growth FundHon PAUL GOLDSMITH (National) to the Minister for Regional Economic DevelopmentRegional Economic Development—Offshore Petroleum Exploration Permits and Provincial Growth Fund7. Hon PAUL GOLDSMITH (National) to the Minister for Regional Economic Development: How are the Government's policies advancing economic development in the regions?Hon SHANE JONES (Minister for Regional Economic Development): The advancement of the Government's policies in terms of economic development in the regions is best described as a pragmatic far-sighted approach.Hon Paul Goldsmith: What does he say to the Mayor of New Plymouth who said that his Government's decision to end oil and gas exploration is a kick in the guts for the region"?Hon SHANE JONES: The gentleman in question met with me last week and I fear that he's not in full possession of the facts. The reality as he will soon learn is that not a single right currently enjoyed by that sector will be changed weakened or summarily dismissed and when he is in full possession of the facts I think that he will change his tune.Hon Paul Goldsmith: Does he think that offering $150000 for exploration of clean energy options in the Taranaki makes up for the premature extinction of a multibillion-dollar industry that sustains thousands of jobs in that region?Hon SHANE JONES: The member is quite correct. There are a huge number of jobs in the Taranaki region through black gold and white gold and the allocation of funding which the member refers to is but the small first step. It was greeted with acclamation because many of the industry of Taranaki realise that there's great disruptiveness facing them and they want to work with the Government to open up new opportunities for engineering and energy solutions.Hon Paul Goldsmith: Was he consulted on stopping oil and gas exploration and in what way did he champion the region?Hon SHANE JONES: Thank you very much for that question. The actual outcome that the Prime Minister announced today was to reassure the current stakeholders in the industry and the owners of the rights granted under statute to them that they remain unchanged. But the Prime Minister also has reflected on which I was consulted about a set of far distant changes—but because of the transition we have to go through as a consequence of the last regime committing us to international obligations we can't walk away from.Andrew Falloon: Will his billion-dollar provincial growth fund create 3100 jobs in South Canterbury and North Otago and $32 billion in royalties and taxes which would have been created by the Barque gas development?Hon SHANE JONES: I'm presuming that the member is referring to the rights that already exist in law off the coast of Te Wai Pounamu. None of those rights are changed as a consequence of today's announcement. The owners of those rights have an opportunity under the law to fully exploit them. They must strike a balance between raising the capital actually finding the geological resource—and stop listening to scaremongering irrelevant backbench MPs.Hon Paul Goldsmith: Can the Minister tell the House what was running through his mind when this picture was taken?Hon SHANE JONES: I don't think I should be judged as a consequence of that photo but I have from time to time been known to use such facial expressions when looking across the House. I think it's fair to say that I'm known as an expressive politician and in that particular case I obviously need a facial massage. Thank you very much."