Friday, November 21, 2008

Water is the new oil

I meant to post this earlier. It looks like the next economic bubble will be water-based.
All this water-market reshaping is occurring in the midst of a global frenzy over privatization of public infrastructure -- considered to be low-risk investments -- such as roads, bridges, tunnels, ports, airports, gas, and water and sewage treatment. Water is one of the critical infrastructures, and Wall Street knows it. For Wall Street and global capital, water is also so much more -- it is the new petroleum of this century, an essential commodity to be invested, owned, controlled, and speculated upon to maximize profit.
Not a good sign that the hedge fund types are getting interested in this market. Theoretically we could live without oil, but without water -- well -- we're dead. [via]

[More posts daily at The Newshoggers and The Detroit News.]

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