South Africa, June 3 -- No country was spared the impact. For some the economic fallout has been dramatic. In the case of South Africa, which imports all its oil and 81% of its petrol, diesel and paraffin consumption, the effects have so far been felt mainly in the price. This has caused the government to subsidise petrol and diesel.

In this article we explore the problems with official data, the mismanagement of strategic stock and the possibility of developing domestic oil and gas supplies.

Both of us have been closely involved in the energy sector for some decades.

Rod Crompton teaches and researches the topic. Prior to that he was responsible for fuel price regulation and strategic stocks at the Department of Minerals and Energy b...