CHRIS BARRON: Let's go fracking, turn on the shale gas and heat up the economy
Industry voice frets that delays will put off global companies whose expertise could help reindustrialise SA
The government has hailed shale gas as a potential "game-changer" for South Africa, but the industry says policy uncertainty and greed will deter the global players critical to its development. The South African Oil and Gas Alliance, which represents the industry, told parliament last month that the 20% state-carried interest proposed in the Mineral and Petroleum Resources Development Amendment Bill needed to be halved to make the industry commercially viable. The bill needs to be signed into law quickly and on commercially attractive terms, says the CEO of the alliance, Niall Kramer. The global companies he represents are not going to hang around forever. Options around the world "These are all explorers who have options around the world. Every year they will look at their portfolio of possibilities and decide which to focus on in the next three-year cycle. If other options offer a more certain and stable legislative environment, then clearly they will go for those." The amendment ...
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