BN@10: SA’s imminent oil and gas boom - Lorimer shares latest facts on nation’s untapped treasure
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- Опубліковано 17 сер 2023
- The most astonishing part about this hugely bullish keynote to the BizNews@10 event is that it was delivered by a politician without incentive to discuss the country’s immediate economic potential. James Lorimer is the official opposition’s shadow minister of Mineral Resources and a hot favourite to land the portfolio’s cabinet position should the Multiparty Charter for SA prevail in the 2024 national election. Yet here he is, telling the BizNews tribe that a massive oil and gas resource is about to be unlocked, catapulting the country’s economic prospects. I guess his journalistic background kicked in - news as good as this cannot be kept under wraps. - Alec Hogg
Video production by Patrick Kidd
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I’m sure Total needs SA more than SA needs Total. The natural resources belong to SA, there are other drilling experts in the world besides Total! We don’t need more French exploitation. It’s time that SA developed its own world class exploration expertise.
Russia has those experts!
Cannot agree more. And that is before we get to the details of the "silent S.A shareholders." Probably without putting in a cent of their own.. YAWN...."business as usual.'
SA doesn’t have a lot to piss in or window to throw it out of
SA has people with serious money whom if spoken to properly, they would be willing to assist the country whilst also making money from it. There needs to be a united approach, this blacks vs white should stop and we agree on a national pathway for all.
@@mukuvaribrighton1586B bs W cannot stop unless we stop pointing at race (I have to classify myself, perish the thought, before I can apply for a public or private sector job!). BEE is too lucrative for the incompetent ruling party; so race politics has to stay.
Cautious optimism is the best response because of the rampant corruption that is so prevalent amongst those in control of either the Gov or Business.
Are we forgetting what Total has done to Nigeria??
Not Total, the corrupt Nigerian government. Nigeria could have made a deal with Total benefitting all Nigeria. But they made a deal benefitting Total and corrupt officials.
Total or Shell i thought it was Shell who was in Nigeria
True shell@@ScissorN
That’s why Newlands came to SA ! To secure the oil and gas and to make sure the DA and ANC make a coalition. GOD help SA.
What a relief. A "soul" that sees through the BS. Respect to you.
6 3:13
I think you meant to say Nuland?
Finding oil in a country is nothing new, so we must learn from countries that made it work for them and try replicating that like Norway. We should also learn from countries that were exploited and try not to repeat the same mistakes.
And yes, corruption will be our biggest hurdle. Thats my two cents🤷♂
Namibia and South Africa should follow Norway's example and maintain control of their oil and gas resources. I fear both countries will follow the Nigerian example.
Africa needs to beneficiate its own minerals. We might as well be a player and serve most of the African West and East coast?
What Africa needs to do is stop accommodating despots and warlords and pretending these are legitimate leaders
You know we stuck with either DA/Action SA that wants to serve western masters, or ANC/EFF that want to loot it. This benefiting South Africans is unlikely, without nationalist leadership personalities, like Gadaffi, Paul Kagame etc. Trust and believe this won't benefit the average South African.
“The game is worth playing, We should play it” 👊
Who is,going to handle the money ? ? The government, really.
The SA government does not have the capability to administer hugescale oil and gas profits without corruption. How will we ensure that the people of South Africa benefit from this potential, and not just fill the governments pockets?
Must we then give up and fold our arms despite the massive developmental potential oil and gas possess?
@@voscowbinder9458 Not at all, it is just a concern that I'm sure all South Africans will share. I hope to see these developments happen as soon as possible so that the people of SA can benefit!
@@markymark8 I fully agree.
We must forget about this gas ND focus on taking Anc out guys next year. And pray for the best leadership that will steal R1 instead of R4
@@thembi9645 I have to admit, that was really funny 😂 but sadly, I actually agree with you. We need to tell our politicians, "guys, if you want to steal, just steal a little bit please. Don't steal EVERYTHING, for goodness sake!"
Very succinct and positive, get rid of the Elephant in the room is the main problem
Venezuela is the country with the largest oil reserves. They are impoverished and poor, and getting poorer.
Because they are sabotaged when the country is poor and unstable its easy to steal
Your paws should not come close to our minerals wena nantsika,
What's the point, if this will just be given to some Western company, and then we buy it back at a premium.
Our corrupt government has managed to drive out most industries. Iscor is gone. We do not refine oil any-more, we buy petrol and diesel from India. Sasol, Denel. Labour unrest and the government are killing South Africa. If RSA finds oil. We will still needs to buy that oil from foreign companies at Dollar prices. And Total and Shell will bribe our government to get that deal. As they did in Nigeria.
Exactly, we have so much potential in SA, why must we always consult the West
Potential? Is that why our government just handed that 1.75 billion Rand project for the Eastern Cape N2 road to a Chinese company, employing illegal Chinese workers? @@thembi9645
The greens must be dismantled. Drill baby drill, get the corrupt out of these huge minerals
never believe a politician - esp if they believe they are saviours of the country
I'm sure when we have a new government next year SA will boom and millions of jobs will be reinstated as the long pockets and short arms will be gone🙏
Dream on fiend. With respect. It will not "be allowed.'
Once the ANC/EFF coalition happens things will improve greatly
@@Neo_Rain146 Maybe in congo but not in SA!
@@jhelm1712 All around us. Things will be so vibrant and diverse
nah communists like the ANC and EFF love poverty and crime, at least that is what their policies cause@@Neo_Rain146
The people shall share in the wealth of the country
Hmm....a little dig at geologists...I wonder if Lorimer knows how much study and effort goes into becoming an earth scientist. A hell of a lot more than becoming a journalist or similar pen pushing career. And that's where the problem lies in our society....politicians mostly come from disciplines which cannot be compared to those who have built and manage the real world (with notable exceptions of course, of which I'm sure that Lorimer is one). No offense....just had to get that off my chest 😎
Nobody is drilling nothing. Check the well names. They are opening wells drilled by Soekor
This guy is talking like he's the head PR guy for the oil companies. Like the ANC doesn't steal all the money and like there is going to be ANY benefit what-so-ever to the average South African!
There will not be. The usual story is that us suckers end up "subsidizing." Simple.
That's not a very constructive post. If the big, experienced oil companies are out of bounds who do you propose would be acceptable and under what conditions?
@@davidtuer5825 South Africa does not need its land and oceans pillaged by companies that's only interest is their bottom line. If you look at data from countries with large oil extraction practices you'll find that they are more prone to earth quakes, water pollution, underwater contamination, population with high cancer rate, etc. And for what? So some guys that will be dead in the next 20 years can make billions while the future South African generations must live with polluted resources? People with the internet should not be fooled by paid propaganda anymore. Here is a question for you: Would you want R100 billion or have an oil spill across the Garden Route / Cape coastline? - the trick/con is you'll never see a cent of that R100 billion either way... ?
He IS the PR for the western companies. We are a BRICS member country. This twit seems to see Russia as a problem or interference. Wait, we will chase the west out of Africa, which is happening right now.
@@davidtuer5825Big experienced companies? 😂 You mean the thieving bastards who vampires the world and cause all the wars? Time's up for them. People are tired of their not abiding by rules or standards in countries and areas they dictate through various devious methods. Russia will become the new west.
A minimum of 90% of the oil and gases MUST go directly to the SA people and not be sucked off by Total or any other developers!
How do you keep the money out of the ANC pokkets.
Check out how fast the American imperialists will “care” about South Africa when there is oil.
some love hate there, but maybe the peoples bill will come into play much faster than we think
They must come we'd love to die over our fatherland like our forefathers!!
If Trump comes back into power or any Republican, it shall become a white elephant! America has more than sufficient to sustain themselves
Insisting on a rules based order based on capital and security of property rights is a form of imperialism I guess. But, would you rather have real imperialists (Ruzzia), communistic oppressor states (China &NKorea), how about Venezuela with one of the richest oil endowments, but +1000% inflation, or a hard-nosed business orientated system that requires you to offer something in return in a fair exchange scenario?
@@tsv8664 Russia is a market-based economy.
I once backed the U.S. and NATO, even cheering when missiles hit Baghdad. However, I've come to see that the U.S. is focused on maintaining its currency's dominance, even at the cost of other nations.
The U.S. has used atomic bombs on cities with civilians, supported various dictators, and often turns a blind eye to coups when it benefits them. For instance, when the U.S. and EU imposed sanctions on Russia, they conveniently excluded uranium.
The U.S. also has a history of military involvement, with over 800 bases worldwide, it is an empire.
I've visited Russia 13 times, specifically cities like Saint Petersburg and Moscow. These cities are among the most beautiful I've seen, even compared to Vienna.
What sets Russia apart from places like South Africa is the low rate of violent crime and vandalism. The streets are clean, adorned with flowers, and the people are friendly. My relatives there don't even lock their doors.
Would I live there? Absolutely, if I could afford it.
You may not agree with these views, especially if you rely on mainstream media like CNN and BBC. I encourage you to look up the following names for different perspectives:
Emil Cosman
Tucker Carlson + Colonel MacGregor interview.
Oy... when oil comes through the front door, the Devil comes through the back door. You ask yourself, how much has oil benefited the people of Nigeria...Guinea... Angola..?
There will be no advantage to the people we know this Block Total
Interesting and useful comment around whether the unintended delay in fracking is in hindsight a blessing. I am unfamiliar with the specifics of this matter BUT what I do know is that it is unusual for there to be a downside in any delay where new technology is being used or considered. A case in point is the leap from the standard telephone system of copper wires and exchanges to mobile networks without any intervening transitional system required when the former Soviet Union economies went "open market". I worked in this Region for 14 years from the fall of the Berlin Wall and experienced this and many other transformations. Being "behind" can have its advantages.
Or the banking system in SA. The USA is still using checks in some places to pay salaries
Fuck fracking. The short-term gains are not worth the long term damage that it will have on the water supply and quality on S.A. water in the karoo and the country as a whole.
Amen
now we can steal !!!! PLENTY
Please keep a hawk eye on the thieves, starting with the minister of this portfolio.
Just leave that fracking alone.
Great, elec and good jobs, improve schools etc
Being Namibian I hope we pull it off, even though it's a bit late in the game concerning climate change. It's like a catch 22. Let it burn or go broke. But thanks for the value 👍🔥🤑
climate change is a method of keeping countries from flourishing and not to rely on un,wef,cabaal
hopefully by the time they find oil on our shores the anc will not be abelk to get there hands on it
😂😂😂😂the devils
REMEMBER PETROBRAS THE WORLDS BIGGEST OILSCAM !!!
I wish he could speak for an hour or more. I thoroughly enjoyed hi insightful perspective. He'll make a fine minister were the rainbow coalition get their act together and emerge victorious next year. Our country holds a considerable potential to thrive yet without proper leadership we will remain just that. At the end of the day it's up to SA to choose progress to leap forward or sentiment that will drag us backwards. Great delivery from Lorimer as always.
Trust all SAns are tired, Anc is out next but ofcoz not entirely. Coalition will take place
He's really good coz he's not reading , he knows what he's talking about, we need leadership like this in SA
Omnamasivaya
Let the looting begin😁😁😁
So this dude is still advocating for foreign agents to come and extract from SA? Instead of just nationalising the space ?
Yeah you better get a spade or shovel and get digging wena. Western industry is the reason these minerals even have any value. Don’t forget that
Hahahaha
You need to explain a little more.
Norway has tiny population of 5 million people eating whale meat sandwiches and with a sovereign wealth fund that is bomb proof. SA has a population of 13x that....
Develop a extraction and benefication system which is transparent to the nth degree that will be a start
Please correct the spelling mistake: "inventive" should probably be "incentive"
1994 .. and we knew
EFF will end this european pupets like anc and DA
And me, a Boer who likes Malema fokkol, will help the EFF to kick them out. Fck the west. They have plundered enough.
Bugger TOTAL, Russia can drill it!
I prefer th Russians
I know of seven wellheads that are off Saldahana that were drilled in 2001 and the wells contained massive deposits . I welded these heads and when they were delivered and the oli companies found the deposits , we were informed so please james don't try and bullshit us . I know about the term viability and the costs . I was working for 15 years in the oil industry and know how the industry works . I was responsible for the welding of the 7 wellheads on the Sable gas field that now supplies Sasol from Inhambane in mozambique .
Ive just been in communucation with the managers of the Kudu field to offtake their gas in Luderitz and potentially Walvis bay for a proposition I am working with the Nam govt with. Still in pre-lead stage.
Hi there are u saying James is genuinely bullshitting us or
Does he not know what he is talking about and exaggerating.
@@carolmcgaghey6112 he is is a politician and is quoting sources. They may be incorrect but if the oil companies pursue it then the potential is there
@@carolmcgaghey6112 There is gas and oil out there but he is telling us that Soekor that drilled up down our in our offshore found nothing except mossgas . Geologists do play a hit and miss game but they rarely miss . Economically viable is part of the oil field and there is always instability once oil found in a country , it is standard practice between competitive countries to gain an economic advantage or to destroy the opposing forces such as America and Russia or even France and Britain.
@@AndrewMcFarlane_1 I sent a welding team to walvis bay already in 2004 to weld 30" casing for the drilling that was taking place in Namibia . Nobody must try and pull the wool over my eyes because I know that gas was found there already at that time .
ROFLMAO. DA = ANC lite. 😂😂😂
Lorimer speaks the same language as Mantashe, even to copy his abuse of those resisting further fossil-fuel development, I wonder if he intends crossing the floor after these elections?
Russia should be the obvious partner in Southern Africa (and Africa) with regards to oil and gas. The West has only their own interests at heart, and Russia is in BRICS with South Africa. Russia has the knowledge and experience with both gas and oil and one of the main exporters of oil and gas.
Watch it Carol. Non existant weapons of "mass destruction" may be found here.....
But you didn’t want their nuclear energy when it was a signature away. Don’t be a hypocrite now
nobody but certain comrades with their hands also in the pockets wanted that deal to go through...only Z and his buds would have scored. Look at all the corruption with coal powerplants that was build!! @@Neo_Rain146
A Russian Oligarch owns a the biggest manganese mine in the northern cape and the ANC has shares in it , yet the community around the mine still have no jobs water and electricity, Russia must go fly a kite
@@CraigKatts They would have no jobs if they mine was owned by Europeans, Americans or Chinese too. Don’t you get it? They’re unemployable
Where this criminal government is concerned, the definition of a "pessimist" is simply an optimist with experience...
What happened to climate change 😂
Should have started franking yesterday 😢
They have the expertese and the finance to make it work. We dont, its a great opportunity if run honestly
We have the BRICS countries as our partners. The west have been plundering our resources for the past 100 years. We are sick of them. Russia is a much better option.
Lets be positive, its a great oppurtunity to give S.A. new hope.
What happened to green energy 😂
Sounds wonderfully and positive however I doubt whether our current government really understands all this,it's a EISH MATTER TO THEM😂
Minor contamination. Politician's never stop lying .