South Africa’s Gwede Mantashe Backs Coal Amid Climate Talks

[rpm]

South Africa’s Mantashe Backs Coal Amid Climate Talks

South Africa’s energy minister encouraged investment in technology that could potentially prolong the use of coal by mitigating emissions while a visiting delegation of rich nations work on a plan to end the nation’s dependence on the fossil fuel.

 

[eg2505]

did somebody say bribes? and did somebody say a beach house in Dubai?
of course Coal is the future, never in Doubt.

 

[pinball wizard]

Are we getting that "clean coal" Trump was always going on about?

 

[Easter Bunny]

“When we talk of carbon capture, storage and use, maybe it’s expensive... we must be prepared to invest in cleaner coal technology.”

i'm guessing he owns shares in coal mining companies and/or companies that will be making "cleaner coal technology".

 

[zolly]

i'm guessing he owns shares in coal mining companies and/or companies that will be making "cleaner coal technology".

Mantashe has to back coal because there are many powerful BEE companies involved in the process, whether that's mining coal itself, or the trucks that ship coal to the mines. Basically, a lot of rich black people who likely fund the ANC, or basically are the ANC, are likely to lose out since they have invested so heavily in coal.

However, this could also be a case of "walking the dog". I.E. Saying "we support coal" but buying time to let the coal space implode on its own. This is what was used to scupper the massive nuclear deal that Zuma wanted in place. This way the ANC can go "oh we tried" even if they don't do anything, or can at very least lay the blame on outside factors.

 

[itareanlnotani]

Yeah, isn't going to happen.

Something something global warming.

Something something else - banks won't give loans for this now.

 

[pinball wizard]

banks won't give loans for this now.

Chinese ones will.

 

[zolly]

Mantashe has to back coal because there are many powerful BEE companies involved in the process, whether that's mining coal itself, or the trucks that ship coal to the mines. Basically, a lot of rich black people who likely fund the ANC, or basically are the ANC, are likely to lose out since they have invested so heavily in coal.

However, this could also be a case of "walking the dog". I.E. Saying "we support coal" but buying time to let the coal space implode on its own. This is what was used to scupper the massive nuclear deal that Zuma wanted in place. This way the ANC can go "oh we tried" even if they don't do anything, or can at very least lay the blame on outside factors.

Oh yes, and I completely forgot about the unions who have many members in the coal industry.

 

[SubtleBeast]

Moegoe

 

[ToxicBunny]

Chinese ones will.

Not for very much longer, Xi Jinping has stated they will stop financing coal plants abroad, and the Bank of China will implement the ban from Q4 for all new projects.

I hope Uncle Gweezy has deep pockets, because as it stands right now he will struggle to find a financier.

 

[ToxicBunny]

Mantashe has to back coal because there are many powerful BEE companies involved in the process, whether that's mining coal itself, or the trucks that ship coal to the mines. Basically, a lot of rich black people who likely fund the ANC, or basically are the ANC, are likely to lose out since they have invested so heavily in coal.

However, this could also be a case of "walking the dog". I.E. Saying "we support coal" but buying time to let the coal space implode on its own. This is what was used to scupper the massive nuclear deal that Zuma wanted in place. This way the ANC can go "oh we tried" even if they don't do anything, or can at very least lay the blame on outside factors.

Nah, with Uncle Gweezy its all about appeasing his supposed support base and legacy connections with mining.

He wants the coal plants built, since it looks like his retirement plan through Karpowership is not gonna happen.

 

[SubtleBeast]

Not for very much longer, Xi Jinping has stated they will stop financing coal plants abroad, and the Bank of China will implement the ban from Q4 for all new projects.

I hope Uncle Gweezy has deep pockets, because as it stands right now he will struggle to find a financier.

He already has one... the taxpayer

 

[ToxicBunny]

He already has one... the taxpayer

Nah, that retirement plan is too small, its only a few million a year. He needs millions a month.

 

[Pegasus]

i'm guessing he owns shares in coal mining companies and/or companies that will be making "cleaner coal technology".

He doesn’t need shares. He takes cash in bags.

 

[rietrot]

i'm guessing he owns shares in coal mining companies and/or companies that will be making "cleaner coal technology".

We don't have other options. We just build two new coal plants. They have no plans and no money for anything else.

 

[pinball wizard]

Not for very much longer, Xi Jinping has stated they will stop financing coal plants abroad, and the Bank of China will implement the ban from Q4 for all new projects.

Ya, then we can get Chinese thorium molten-salt reactors instead.

 

[ToxicBunny]

Ya, then we can get Chinese thorium molten-salt reactors instead.

Please no... get it right.

Gwede will figure out how to generate power from his hazenile deposits.

 

[Enzo Matrix]

Just follow the money when any ANC pos opens their pie hole. That is all

 

[pinball wizard]

Please no... get it right.

What staggering is China has a total nuclear power generation capacity of 49.6 GW from 50 reactors, and that counts for only around 6% of their total electricity consumption.

 

[ToxicBunny]

What staggering is China has a total nuclear power generation capacity of 49.6 GW from 50 reactors, and that counts for only around 6% of their total electricity consumption.

They could just ship us those reactors and we'd be good.