Rob Jeffrey, Independent Economic Risk Consultant: The three major objectives of the country are poverty alleviation, reducing inequality and raising standards of living. These objectives can only be achieved by maintaining a high rate of economic growth, thereby reducing levels of unemployment and raising the standard of living. Electricity is a necessary but not a sufficient condition for economic growth. The necessary condition for sustainable economic growth is that there is a stable and secure supply of electricity at the lowest effective economic cost when delivered to the user. The sufficient condition requires that economic, social and political conditions must be put in place to foster and encourage domestic and foreign investment, thereby creating demand for productive and economically efficient industries.
SOUTH AFRICA'S ELECTRICITY AND ECONOMIC DEVELOPMENT - SPECIALISED COMMENTS PART 2 (Rob Jeffrey) South Africa13.Jan.2020
Rob Jeffrey, Independent Economic Risk Consultant: South Africa is now (2018) in a recession, the fact is that South Africa does not have the financial resources to revitalise itself. The country suffers from a low savings rate and the government has no money to undertake the task of renewal and development itself. The only means to forge ahead is to make the country attractive to both domestic and foreign investment. Yet there are wild calls for expropriation without compensation, nationalisation of various industries, including one of the most damaging of the lot nationalising the SA reserve bank or using it as a pot of gold. These calls if they are implemented or gather in strength will drive South Africa into an economic death spiral similar to Zimbabwe and Venezuela.
One of South Africa’s key electricity technology energy advisors is a German renewable energy expert and supplier of German wind turbine equipment. Unbelievable. That highlights the desperate situation South African energy is in. German national energy programs based on wind and solar are only one natural crisis away from being in a disastrous situation.
Pope Francis: Deterioration has increased in recent decades: constant pollution, continued use of fossil fuels, intensive agricultural exploitation and deforestation are causing global temperatures to rise above safe levels. The increase in the intensity and frequency of extreme weather phenomena and the desertification of the soil are causing immense hardship for the most vulnerable among us. Melting of glaciers, scarcity of water, neglect of water basins and the considerable presence of plastic and microplastics in the oceans are equally troubling, and testify to the urgent need for interventions that can no longer be postponed. We have caused a climate emergency that gravely threatens nature and life itself, including our own. Now is the time to repent and return to our roots.
University of Notre Dame, Pope Francis: Three years ago, Pope Francis issued a sweeping letter that highlighted the global crisis posed by climate change and called for swift action to save the environment and the planet. On June 9, 2018, the Pope gathered money managers and titans of the world’s biggest oil companies during a closed-door conference at the Vatican and asked them if they had gotten the message. “There is no time to lose,” Francis told them.