John Carnegie: Energy Resources Aotearoa CEO on Methanex's proposal to cut staff and downsize to one plant

Early Edition with Ryan Bridge

Another blow for regional New Zealand and the manufacturing industry is being seen as potentially devastating.

Methanex is proposing cutting staff and moving from two plants to one.

Earlier this week Winstone pulp confirmed plans to shut, putting more than 200 jobs on the chopping block after soaring energy prices.

Energy Resources Aotearoa's John Carnegie told Ryan Bridge the system is going from crisis to crisis - something he believes is predictable following the oil and gas ban.

He says it leaves a hole in the confidence of investors.

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