Posted on 12/10/2020 5:10:01 PM PST by Roman_War_Criminal
What is water trading?
The market allows farmers, hedge funds, and municipalities to hedge bets on the future price of water and water availability in the American West. The new trading scheme was announced in September, prompted by the region’s worsening heat, drought, and wildfires.
Water trading pros and cons Proponents argue the new market will clear up some of the uncertainty around water prices for farmers and municipalities, helping them budget for the resource.
But some experts say treating water as a tradable commodity puts a basic human right into the hands of financial institutions and investors.
Wall Street’s water trading The country’s first water market launched on the Chicago Mercantile Exchange this week with $1.1 billion in contracts tied to water prices in California.
There were two trades when the market went live Monday.
“Droughts, population growth, and pollution are likely to make water scarcity issues and pricing a hot topic for years to come. We are definitely going to watch how this new water futures contract develops,” RBC Capital Markets managing director and analyst Deane Dray told Bloomberg.
“What this represents is a cynical attempt at setting up what’s almost like a betting casino so some people can make money from others suffering. My first reaction when I saw this was horror, but we’ve also seen this coming for quite some time,” said Basav Sen, climate justice project director at the Institute for Policy Studies.
Smells like Enron.
There is plenty of water, and it’s recyclable. The issues are potability and distribution.
markets just wants commissions.
oil, carbon and now water.
Why not air?
With filtration and purification tech available, there is no need for rationing water.
But the left has been pushing the idea for years that “water is running out”.
Since they successfully pushed the “guaranteed covid doom and mandatory curtailing of freedoms” without any pitchforks coming for them, they will move to the nect goals.
Depopulation and water rationing.
Cities do not have a choice of where they buy their water.
They are more trying to figure out how they can supply more water for growing population centers.
Though T Boone Pickens did try to buy up aquifer water rights to sell water interstate somehow.
If democrats prevail they will be trading food and air.
Ask Mel Brooks
Why not toilet paper? The stores are empty at times. Well . . . I don’t mean trade as in trade clean TP for dirty TP . . I mean as a commodity.
“Forget it, Jake, it’s Chinatown!”
Quite possibly.
American farmers (virtually all of them) know more about the commodities markets than a lot of the wizards of Wall Street. They have been forced to learn the ins and outs of the markets in order to survive.
An old Twilight Zone episode, some bank robbers stole a bunch of gold and hid in the desert with a way to deep sleep for 100 years.
When they woke up they were thirsty and being crooks were pretty nasty to everyone they encountered. Eventually they learned water was worth more than gold.
The moral of the story?
F Wall St
Yep, and T. Boone Pickens is dead now but he was on it early.
https://www.texasmonthly.com/the-culture/boone-pickens-wants-to-sell-you-his-water/
I didn’t like him.
Southern California uses far more water than falls naturally in the area.
I pay under $57 per acre foot of treated water on my farm.
A dang good deal right here in the California foothills.
Don’t need no Wall St
“ Southern California uses far more water than falls naturally in the area. “
Maybe areas that are drastically short on water should not continue to expand their population.
Some people would need to move to where the water is, or pay high rates to get water shipped in.
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