NZ First promises $1 billion to search for oil and gas under the sea

NZ First wants to spend $1 billion searching for oil and gas deep under the sea around New Zealand, saying it would help secure the country's fuel supply. Leader Winston Peters told the party's campaign launch New Zealand could match Norway's energy wealth within six years. The party wants companies to pay over half their profits to the government. Greenpeace's Russel Norman said the money should fund renewable energy instead.