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A number of reports came out recently indicating that the Karoo has substantial shale gas resources and the whole question of fracking is certainly going to be debated heavily in South Africa. Environmentalists are quite against this, but they have been on the losing side in America and when one hears about the money involved, I don’t believe that they are going to win in South Africa either.
Tony Twine, of Econometrix, who recently died, but before he did so, he released a report into the economic impact that the Karoo shale gas could have on our economy. They estimated that there could be an economic impact of somewhere between R80 billion to R200 billion a year to our GDP, and that it would give the government between R35 500 million to R90 000 million a year in extra taxes and generate between 300,000 to 700 000 permanent jobs over the 25 year period of the project. Gas is a very efficient form of heating, and that makes it very valuable. Fracking is all the talk in America and it is no doubt going to be a huge conversation topic here, but with oil prices rising, and unemployment issues, I would imagine that shale gas is going to completely transform the Karoo.
Posted by Michael de Broglio on Wednesday 21-Mar-12
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Comments
Angelique said:
on Friday 23-Mar-12 05:41 PM
The Karoo be taken for money? Imagine all those people who live there? I was fortunate to be able to drive through the Karoo, very boring and plain place. But I dont know so much about transforming it. But then again like Cherise pointed out everyone couldnt imagine Johannesburg but look at it now.
Daniela said:
on Friday 23-Mar-12 03:29 PM
My friend and celebrity - Mark Ruffalo - is very much against fracking and a voice for this in America. He has received a lot support from fans on Twitter.
It's all great and well that it aids in job creation, but at the price of destroying our earth?
cherise said:
on Friday 23-Mar-12 10:44 AM
I would imagine that if there is any kind of mineral ,such as the karoo could be rich in shale gas , that this will quickly transform the karoo into a busy and developed place because the workforce will need accomodation , infrastructure , schoold, hospitals etc and this will all contribute to devoloping the Karoo.
same like johannesburg , im sure many years ago people never thought it would become so developed because of Gold discovery's and now look.
Will be interested in seeing if this will actually happen
Kaylene said:
on Friday 23-Mar-12 09:13 AM
The Karoo, well everything gets taken away lately and turned into hectic working places,etc.
Bernadette said:
on Friday 23-Mar-12 08:47 AM
It is so hard to imagine the Karoo a busy place. I think that at the end of the day if this gives more people jobs it might be something to look at and if it is that valuable then they should defiantly look into it in more depth.
Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
