State ‘gullible’ on fracking – alliance

2013-10-10 15:03

The government needs to involve all parties affected by fracking in a comprehensive and far-reaching study, the Treasure the Karoo Action Group (TKAG) has said.

“It is beyond embarrassing that the government of the economic powerhouse of Africa can be so gullible,” TKAG CEO Jonathan Deal said today in reference to an Econometrix fracking study by Shell in 2012.

“It is not enough to swallow the promises of companies who gamble with the future of this country while promoting their own profit objectives.”

Fracking, or hydraulic fracturing, is the process of fracturing rock by pumping pressurised liquid deep into the ground to extract natural gas trapped in shale layers.

The Econometrix study constructed a macroeconomic model to analyse the economic opportunities should a large amount of gas be found in the Karoo.

The TKAG and AfriForum released a peer-reviewed critique of the study today, which questioned the efficacy of the economic model used.

“No one macroeconomic model, and certainly not simple theoretical models, can be used to base policy decisions on,” they said.

“Intellectual monopolies in the modelling domain do not lead to better decisions, especially when potentially game-changing shocks to broader socioeconomic and ecological systems are anticipated.”

Mineral Resources Minister Susan Shabangu on Thursday announced the gazetting of technical regulations on shale gas exploration and exploitation, which would allow 30 days for public comment.

She said the proposed regulations prescribed international industry practices and standards, which would ensure exploration was conducted in a “socially and environmentally balanced manner”.

A year ago, Cabinet agreed to lift a moratorium on applications to explore for shale gas in the Karoo using fracking.

The decision was based on recommendations contained in a report on shale gas exploration prepared by a technical task team, Minister in the Presidency Collins Chabane said last September.

Shabangu said one of the report’s main recommendations was to ensure that the regulatory framework was robust enough to mitigate any negative impact should fracking be approved.

“We have a responsibility as government to ensure security of energy supply for the country and to explore energy sources that will improve the country’s energy mix, grow the economy and contribute to job creation.”

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.

Inside News24

 
/News

Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.