New Zealand bans new offshore oil exploration to tackle climate change

New Zealand's oil and gas industry is a sizeable part of the country's economy, but it'll be stopping all new offshore exploration to address climate change.

"There will be no further offshore oil and gas exploration permits granted," Prime Minister Jacinda Ardern said in an announcement on Thursday. 

SEE ALSO: Shell knew truth of global warming in 1980s; foresaw a Hurricane Sandy scenario

The decision will only apply to new permits that are put out to tender annually, with existing...

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