Here we go again

THERE is something about parastatal organisations -- like Eskom, like Sasol was (and sometimes still is) -- that makes them what in the business world is called, politely, "suckers". Take the announcement that Eskom is to investigate the feasibility of piping natural gas from Namibia's Kudu field to a gas turbine plant in Atlantis. No doubt, supplied as it is with taxpayers' money, Eskom will now hire consultants to do the work for a fat fee, forgetting that a thorough investigation of the commerciality of the Kudu gas field, done years ago by Shell, came to the conclusion that it was a non-starter. No matter, knowing better, Eskom will now "investigate". What a waste of time -- and our money. The Kudu field, which is being developed by Tullow Oil, is reported to have 85 000m3 of estimated reserves. This is tiny. For a gas field to be productive profitably, it should have trillions, not thousands of cubic metres. No wonder Tullow wants to ensnare Eskom. They want their hands on public capital. But when you are clutching at straws to get you out of the mess resulting from ten years of sitting on your hands, Spigot supposes Eskom has no choice. It is a sucker.