James Lorimer: ANC ‘s controversial oil and gas bill – greed, ignorance and ideology will keep SAns in poverty.
The Upstream Petroleum Development Bill, recently passed by African National Congress MPs, sets the stage for governing oil and gas projects in South Africa. However, concerns arise as this legislation may perpetuate the ANC’s troubling mix of greed, ignorance, and ideology, potentially keeping South Africans in poverty. The potential for economic growth, increased state revenue, and job creation could be sacrificed to political interests. The bill’s provisions, including racial quotas and discretionary powers, create uncertainty and deter investment, risking a setback in resource development and the nation’s economic progress.
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ANC greed, ignorance and ideology continue to keep South Africans in poverty
By James Lorimer*
On Thursday, the votes of African National Congress MPs guaranteed that the Upstream Petroleum Development Bill – which governs how licensing of oil and gas projects will work from now on – was passed in the National Assembly, and now goes on to National Council of Provinces.
Once again, if this legislation goes through, it will ensure that the ANC’s usual toxic combination of greed, ignorance and ideology will continue to keep South Africans in poverty.
It doesn’t need to be this way – as my speech to Parliament on Thursday shows. This is what I said:
Mr Chairman
It has been said the ANC never misses an opportunity to miss an opportunity. This bill presents another classic case where possible economic growth, money to the fiscus and jobs for our people are being sacrificed on the altar of the ANC’s race obsession, and for them it has the added benefit of a few comrades getting very rich.
