PETER BRUCE: Buyers beware: that deal may not be a deal after all
Just because you have oil doesn’t mean you’re going to be rich
We may be approaching a moment here in SA when it becomes prudent to warn potential investors that deals struck with the present government might not necessarily be viewed with much regard by the next one. In other words, buyers beware.
I’ve been reading through the draft SA National Petroleum Company (SANPC) Bill, gazetted on Monday by mineral resources & energy minister and ANC chair Gwede Mantashe. That conjunction of party and state is almost nauseating in the writing of it, but what the SANPC bill does is make it absolutely official. They are one and the same beast...
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