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field to methanol, which it then converted to petrol on-site. Declining oil prices rendered this process uneconomic and saw a reduction in the production of synthetic fuel; however, the industry still remained at large due to prior investment. New
Zealand would abandon the manufacturing of synthetic
671:
New
Zealand's economy suffered from the major investments made by the government. Investment incentives and macroeconomic ratios were heavily affected by the billions of dollars borrowed for the Think Big projects. On 27 September 1982, Muldoon introduced 'The Wage Freeze Regulations' that would
469:. The cost of oil loomed as the major component of the New Zealand balance of payments deficit. Muldoon's administration intended the Think Big projects to reduce New Zealand's reliance on imports, especially oil, and thus improve the
462:, where private motorists had to choose one day of the week, on which they could not drive their motor vehicle. Heavy fines were imposed for motorists who were caught driving on their nominated carless day.
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freeze wages and prices on a national scale until 22 June 1983. The policy had attempted to target inflation, but in turn reduced profitability for exporters unable to adapt prices.
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114:, and using the funds for large-scale industrial projects. Petrochemical and energy related projects figured prominently, designed to utilise New Zealand's abundant
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12 a barrel to US$ 19 a barrel. The New
Zealand government banned weekend sales of petrol. On 30 July 1979 the government introduced
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Approval of Think Big, at least during and soon after the time of its implementation, tended to rely on party affiliations (with
259:
691:: "Better to talk about the $ 7 billion that was borrowed (by Muldoon for Think Big) than about the $ 600 million that wasnât."
432:
paralysed that country's oil-industry and 5.7 million barrels (910,000 m) of oil per day were withdrawn from world supply.
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government in the early 1980s. The Think Big schemes saw the government borrow heavily overseas, running up a large external
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was never builtâlargely owing to resistance on the grounds of the environmental damage that would have been a consequence.
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supporters initially opposed them). Think Big projects became synonymous with further inflation and industrial trouble.
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formed part of a scheme to generate electricity for the national grid. A proposed smelter at
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coined the "Think Big" label in a speech to a
National Party conference in 1977. Economist
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became the
Minister of Energy. He looked to the substantial reserves of natural gas under
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Interventionist state economic strategy of the Third
National Government of New Zealand
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The increases in oil prices substantially worsened the country's already precarious
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In the late 1970s New
Zealand's economy was suffering from the aftermath of the
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petrol in
February 1997, allowing the plant to switch the focus to methanol..
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and off its coast as an opportunity to bring life to the ailing economy.
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also used the term "think big" in describing economic strategies.
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Australian and New
Zealand Standard Industrial Classification
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The core Think Big projects included the construction of the
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In 1978 New
Zealand faced a further crisis in oil-supply.
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The Petrol Industry: Deregulation, Entry and Competition
804:. Wellington: The NZ Trade Consortium. pp. 7, 20.
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923:including a detailed annotated graph of oil-prices
816:THE WAGE FREEZE REGULATIONS 1982, AMENDMENT NO. 3
1413:
921:Chronology of World Oil-Market Events 1970â2003
818:(pp. 1â3). Wellington: New Zealand Parliament.
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548:locomotive on the electrified section of the
500:, and the building of a stand-alone plant at
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1386:Campaign Against Foreign Control of Aotearoa
1365:Trans-Pacific Strategic Economic Partnership
956:
949:
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889:Bassett, Michael; Bassett, Judith (2006).
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1027:New Zealand property bubble, 1987âpresent
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775:"Fuel crisis 'not being taken seriously'"
508:converted natural gas from the off-shore
76:Learn how and when to remove this message
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450:worsened. During the first half of 1979
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97:Third National Government of New Zealand
39:This article includes a list of general
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679:supporters backing the projects, while
646:New Zealand money supply and inflation
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864:His Way: A Biography of Robert Muldoon
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687:said to the Labour Cabinet during the
327:1984 New Zealand constitutional crisis
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492:, the complementary expansion of the
1427:Political terminology in New Zealand
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25:
1396:New Zealand Council of Trade Unions
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1022:Finance company collapses, 2006â12
891:Roderick Deane: His Life and Times
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45:it lacks sufficient corresponding
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1422:Political history of New Zealand
1145:New Zealand Trade and Enterprise
814:New Zealand Government. (1982).
746:Hembry, Owen (31 January 2011).
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504:to produce methanol for export.
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1391:New Zealand Business Roundtable
651: M3 money supply increases
95:state economic strategy of the
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612:a third reduction line at the
265:Dancing Cossacks advertisement
140:The National Cabinet Minister
1:
848:, Auckland University Press,
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717:National Development Act 1979
273:Prime Minister of New Zealand
893:. Auckland: Viking/Penguin.
748:"In the shadow of Think Big"
228:Leader of the National Party
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1150:Reserve Bank of New Zealand
1012:Mother of all Budgets, 1991
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411:European Economic Community
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1162:Overseas Investment Office
800:Pickford, Michael (2001).
581:Marsden Point Oil Refinery
494:Marsden Point Oil Refinery
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21:Think Big (disambiguation)
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872:Auckland University Press
322:Closer Economic Relations
280:Third National Government
516:The construction of the
302:Bastion Point Occupation
248:Leader of the Opposition
240:1984 leadership election
235:1974 leadership election
183:This article is part of
158:, a "Think Big" project.
1198:New Zealand Dairy Board
722:Politics of New Zealand
657: Housing inflation
600:North Island Main Trunk
454:raised oil prices from
424:continued to raise the
60:more precise citations.
1432:Economy of New Zealand
1327:International rankings
1215:Information technology
1203:New Zealand Wool Board
1193:New Zealand Meat Board
958:Economy of New Zealand
916:Techhistory: Think Big
844:Easton, Brian (2001),
753:The New Zealand Herald
727:Economy of New Zealand
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563:ammonia/urea plant at
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401:Economy of New Zealand
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1401:New Zealand Institute
1348:Free trade agreements
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1442:1980s in New Zealand
1437:1970s in New Zealand
1379:Unions and lobbyists
1133:New Zealand Treasury
1002:Rogernomics, 1984â90
665:Consumer price index
292:Fitzgerald v Muldoon
106:(1975â1984) and his
19:For other uses, see
1452:1980 in New Zealand
1447:1979 in New Zealand
1305:Economic conditions
1167:Commerce Commission
1007:Ruthanasia, 1990â93
471:balance of payments
428:. Then in 1979 the
413:, and from rampant
312:1981 Springbok Tour
1286:Telecommunications
1155:Official cash rate
1138:New Zealand budget
1043:New Zealand dollar
997:Think Big, 1979â84
992:Black Budget, 1958
982:IC&A Act, 1894
846:The Nationbuilders
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557:methanol plant at
554:
430:Iranian Revolution
407:1973 energy crisis
160:
99:, promoted by the
1409:
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1112:New Zealand pound
830:, p. 77,166.
779:The Dominion Post
689:MÄori loan affair
638:Measuring outcome
617:aluminium smelter
587:New Zealand Steel
585:expansion of the
579:expansion of the
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334:General elections
220:Electoral history
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602:Railway between
536:List of projects
486:synthetic-petrol
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838:Further reading
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781:. 27 March 2011
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783:. Retrieved
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757:. Retrieved
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709:1980s portal
681:Labour Party
674:
670:
631:Clutha River
544:An electric
522:Clutha River
515:
480:
464:
460:carless days
446:In 1979 the
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426:price of oil
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307:Carless days
297:Moyle Affair
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146:Brian Easton
142:Allan Highet
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44:
1276:Oil and gas
1254:Hospitality
1225:Aquaculture
1188:Agriculture
614:Tiwai Point
118:to produce
116:natural gas
58:introducing
1416:Categories
1336:Agreements
1121:Government
733:References
569:synthetic-
448:oil crisis
437:Bill Birch
287:Dawn raids
208:Early life
127:fertiliser
89:Think Big
41:references
1281:Retailing
1247:Kauri gum
1172:KiwiSaver
759:29 August
627:Clyde Dam
591:Glenbrook
589:plant at
573:plant at
518:Clyde Dam
498:WhangÄrei
488:plant at
415:inflation
317:Think Big
66:June 2010
1353:Malaysia
1237:Forestry
1181:Industry
1128:Taxation
1036:Currency
868:Auckland
862:(2000).
785:6 August
695:See also
546:EF class
526:Aramoana
477:Projects
441:Taranaki
435:In 1978
131:methanol
108:National
1322:Poverty
1291:Tourism
1230:Whaling
1220:Fishing
965:History
629:on the
619:, near
604:Te Rapa
598:of the
575:Motunui
559:Waitara
520:on the
506:Motunui
502:Waitara
490:Motunui
163:History
120:ammonia
112:deficit
91:was an
54:improve
1317:Income
1271:Mining
897:
878:
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663:
661:
655:
649:
571:petrol
565:Kapuni
135:petrol
43:, but
1358:China
1073:$ 100
621:Bluff
496:near
483:Mobil
1296:Wine
1210:Beer
1068:$ 50
1063:$ 20
1058:$ 10
895:ISBN
876:ISBN
850:ISBN
787:2012
761:2011
625:the
606:and
550:NIMT
510:Maui
456:US$
452:OPEC
422:OPEC
355:1984
350:1981
345:1978
340:1975
133:and
124:urea
1105:$ 2
1100:$ 1
1095:50c
1090:20c
1085:10c
1053:$ 5
528:on
1418::
874:.
870::
866:.
777:.
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