Justin Smith QC "expresses serious concerns about 'trailing liability', which means former permit holders can be liable for fields they have transferred and no longer control. He says it is 'a truly novel and draconian provision in New Zealand' "—Draconian. We've heard before that this Government's taking us back to the 1970s; I think they're taking us back to the Dark Ages and the coal age. Consultants Wood Mackenzie "find the New Zealand proposals are far stricter than comparable jurisdictions and unnecessarily duplicative. They find that 'such a strict regulatory system is not necessary to obtain … level of taxpayers' protection.' " And economic consultants Castalia "finds the proposal's costs to greatly outweigh the benefits with net cost to New Zealand of almost $1 billion, generating only 11 cents of economic benefit for every dollar of cost."