The financial requirements and penalties for companies decommissioning here are disproportionate to the risk. The bill is applied retrospectively and impacts on existing permit and licence holders, altering their rights and duties—some of these have been in place for decades. It will reduce New Zealand's appeal as a location for petroleum investment and could also reduce our attractiveness for other investments because of these retrospective liabilities. The Minister said that the world is watching what is going on here. This is the most far-reaching piece of legislation in the world. So guess what, if these companies are going to go somewhere, they're going to look around the world and they're going to go, "Where are we welcome? Oh no, that's right. First of all New Zealand closed us down for business, and now they're putting these retrospective rules on us. They're looking at perpetuity. Why would we go there? We're certainly not going to go there."