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Citi's Top Economist Says The Water Market Will Soon Eclipse Oil
07-28-2011, 03:21 PM #1
Upāsaka Member
Posts:1,383 Threads:252 Joined:Feb 2011
http://ftalphaville.ft.com/blog/2011/07/...-than-oil/

Quote:Even Willem Buiter, a man most often seen railing at the vagaries of central banks, gets stuck in, with a 4,000-word essay on the subject. Which means we could now discuss whether the Citigroup economist thinks water is a public good (he says it’s private), whether it’s excludable (i.e. lends itself to property rights — he says it does), whether it’s a merit good as defined by Richard Musgrave back in the 1950s (it’s not) and whether, since it is essential to life, it should be free (to which his answer is a curt ‘no’).

But instead, we’ll just skip to the bit where Buiter says water is the next big thing:

I expect to see in the near future a massive expansion of investment in the water sector, including the production of fresh, clean water from other sources (desalination, purification), storage, shipping and transportation of water. I expect to see pipeline networks that will exceed the capacity of those for oil and gas today.

I see fleets of water tankers (single-hulled!) and storage facilities that will dwarf those we currently have for oil, natural gas and LNG. I see new canal systems dug for water transportation, similar in ambition and scale to those currently in progress in China, linking the Yangtze River in the South to the Yellow River in the arid north.

I also hope and expect that these new canal ventures will be designed and implemented with a greater awareness of the environmental and social impact of such mega-projects. India will have to engage in investment on a scale comparable to that seen today in China to produce clean water in the best locations and transport it to where the household, industrial and agricultural users are.

Water as an Asset Class

I expect to see a globally integrated market for fresh water within 25 to 30 years. Once the spot markets for water are integrated, futures markets and other derivative water-based financial instruments — puts, calls, swaps — both exchange-traded and OTC will follow. There will be different grades and types of fresh water, just the way we have light sweet and heavy sour crude oil today. Water as an asset class will, in my view, become eventually the single most important physical-commodity based asset class, dwarfing oil, copper, agricultural commodities and precious metals.

Now, who needs a drink?

Privatization to the right to live. These people are pure evil.
07-28-2011, 04:01 PM #2
Octo Mother Superior
Posts:42,590 Threads:1,469 Joined:Feb 2011
Don't know if they changed it but according to the UN clean water is not a human right sad2.gif

yes it's pure evil
07-28-2011, 04:24 PM #3
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
This has been coming for a while. Maude Barlow wrote a very well researched article The Global Water Crisis and the Commodification of the World's Water Supply 10 years ago. Scary stuff.
07-28-2011, 05:55 PM #4
Kreeper Griobhtha
Posts:10,589 Threads:633 Joined:Feb 2011
I've been saying for years that they are after the assets. They already control almost all of them and are working on the water and food. When the day arrives that they finally control the water and food it will be a whole new ballgame. The food is almost theirs. They will have to figure out what to do about wells on private property before they can control the water.


.

I am not your rolling wheels, I am the highway
I am not your carpet ride I am the sky
I am not your blowing wind, I am the lightning
I am not your autumn moon, I am the night
The night
07-28-2011, 07:59 PM #5
Ghostie Member
Posts:1,074 Threads:212 Joined:Mar 2011
water wars soon coming to a town near you








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