South Africa is on the cusp of hitting a natural resources jackpot.
As life-changing as the discovery of diamonds was in 1867.
And the Witwatersrand gold basin was in 1887.
In this interview, the DA’s James Lorimer talks to Alec Hogg on BizNewsTV.
Revised legislation before Parliament will fall in line with global norms.
And thus acceptable to multinational oil majors.
The nature of the geography and this year’s rich strikes in Namibia means that the oil majors are likely to invest.
Each well costs around R500m.
The nation will pocket roughly 60% of all revenue generated from oil and gas.
Making it possible to adopt an approach of “drill, baby, drill” by Shell, Total, and their peers.
Not only off SA’s West Coast but also to exploit the Karoo’s shale gas potential.
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