CAPE TOWN- Energy Minister Jeff Radebe on Wednesday called for all impediments to shale gas exploration to be removed as part of the government's response to the record high in the fuel price.
Radebe told a debate in the National Assembly on the fuel price, the main driving factor was the current policies of the Organisation of Petroleum Exporting Countries (OPEC) and that there was little hope that the price of crude oil would drop.
"The price of crude oil will remain at current levels," Radebe said, adding that this posed a particular predicament for South Africa with its lack of reserves and reliance on imported cruel for 80 percent of its fuel needs.
South Africa, therefore, needs a multi-pronged approach to shield the economy from the impact of price hikes.
"The reality which we must internalise is that South Africa has no crude oil reserves and as a result, we are heavily dependent on fuel imports for 80 percent of our country's fuel demands... Resolving this challenge is not a quick fix and that it requires a multi-dimensional policy approach."