PETER BRUCE: Gas? A transition to totally wasted infrastructure
Powerful forces are trying to hoodwink SA into an expensive mistake
I made my own trap last week when I read a tweet reporting that Johann Rupert had said at the Remgro annual general meeting that green (renewable) energy was “not enough” for SA right now. I replied: “All very well for @cutmaker to say that but Remgro’s invested heavily in fossil fuels in SA. If he really thinks gas is a good idea he should stop opposing fracking in the Karoo. TotalEnergies will soon start surveying for gas off Hermanus. The whales approve. Lovely...”
I was wrong. Remgro is invested in Total SA, the downstream local affiliate of the French oil giant. And its stake is up for sale. TotalEnergies, the French parent, is applying for a licence to drill for gas near the environmentally sensitive whale sanctuaries around Hermanus and towards Mossel Bay...
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