A new report warns of trillions in oil and gas revenues at risk by 2040, with demand set to fall globally in favour of cheaper renewables.

Accelerating renewables in line with the 1.5°C pathway would safeguard global GDP, inflation and jobs in the event of an oil and gas price shock.

South Africa’s car manufacturing industry can remain a key contributor to the economy if it pivots to electric as soon as possible.

Running an electric car saves money long term, and it also means being less vulnerable to temporary price spikes and shortages of petrol and diesel.

South Africa is no stranger to companies wanting to use offshore drilling to search its coastal waters for oil and gas deposits.

The resource curse is a phenomenon that occurs when a country has an abundance of natural resources but cannot grow its economy.

Hydraulic fracturing, or fracking, is the process of drilling into the earth to inject rocks deep underground with water, chemicals or sand to reach oil or natural gas deposits.

In August 2021, the South African government announced a steep rise in the price of petrol – an increase of 91 cents per litre. This will place pressure on consumers, said a representative from the country’s Automobile Association.