The universal naivete of "greens" never fails to amaze. Ingi Salgado in Green Agenda ("ExxonMobil dinosaurs blaze trail to extinction," June 5) attacks ExxonMobil and Sasol for blazing "a trail to their extinction" by not sufficiently investing in alternative energy sources.
She is dead wrong. First, ExxonMobil is an energy company and not an oil company. It will do what is economically feasible to power our homes and cars. Second, it is spending billions of its owners' money in what it does best - finding oil and gas.
The company says fossil fuels will power our economies for generations. Despite what doomsters predict, the markets agree.
Sasol, on the other hand, is a remarkable company. It literally squeezes energy out of a stone (coal), and is trying its very best to do it economically. Both companies need to be admired and appreciated for what they are doing rather than attacked for their profits. If not for them we would be all be freezing in the dark.
Professor Mark Castelino
Rutgers Business School
New Jersey, US
Stats SA must look at its own numbers
Trevor Manuel, the minister of finance, recently revealed that the vacancy rate at Statistics SA was 30.4 percent, dramatically up from 17.3 percent just two years prior. Equally alarming is the fact that some of these posts, at very senior levels, have been vacant for up to four years.
With such a high vacancy rate, one wonders if the department is able to perform its function competently. This is particularly pertinent as the credibility of its figures has been questioned in recent months - most recently amid speculation that producer price data might not be reliable.
While reliable data are essential to monetary policy decision making, this is more so the case as inflation gathers momentum. Inflation figures from Stats SA form the basis for interest rate decisions. The public must know that decisions on interest rates are based on trustworthy figures.
Monetary policy responses to unreliable data will be to the detriment of the economy. As such, the minister must account for why he has allowed this key section of his department to be so poorly staffed.
Kobus Marias, MP
Democratic Alliance spokesperson for Finance
Parliament
Tribunal's call on Tiger a victory for the public
It was as a proud South African that I read the article about David Lewis, the chairman of the competition tribunal ("Tiger in a corner on price-fixing," June 2). Lewis used the mandate of his office to identify, berate, and act against the perpetrators. This is a victory for the consumer and a boon for the tribunal. We have seen far too many organisations and institutions which are mandated with great powers to protect the consumer and ordinary citizens against abuse treating offenders with kid gloves. These same offenders are more often than not wealthy and well connected
Not only did Lewis speak out harshly against the price-fixers, he left no uncertainty as to the ethical and corporate responsibility of Tiger Brands. This is great for our democracy!
The tragedy for us ordinary South Africans is that people like Lewis are doggedly hunted and replaced by yes-men, and the companies fined pass on the cost to unsuspecting consumers.
Owen Simons
Century City
Bankers should not steer the country
Joubert Botha ("Monetary policy is marching into dangerous territory," June 3) echoes my sentiments. I have always been suspicious of the motives of bankers and financial houses.
The latest proposed round of interest rate hikes must have bankers salivating at the idea of extra money rolling into their accounts. Once again the wealthy elite will not only be able to ride out the storm but will profit handsomely in the process. I also note that the economists employed by banks all say rate increases are the only way to limit inflation, despite this having not succeeded over the past 200 years ("Rate increases are a necessary medicine, say most economists," June 3).
I trust Cosatu and other trade unions are paying attention to these developments and would support a moratorium placing the granting of credit by all financial houses, including furniture chains, on hold until legislation limits the ridiculous terms of credit currently available.
We must simplify our lifestyles and face up to the fact that unbridled capitalism simply doesn't benefit humanity as a whole. The government is the only party that can put the brakes on this rampant greed and if it persists with this insane method of trying to curb inflation it will only entrench the belief that countries around the world are not run by the politicians but by the banks.
Peter Worman
Bluff
Durban