Companies proclaim water the next oil in a rush to turn resources into profit

[n2doc]

by Suzanne McGee

“Is now the time to buy water?” enquired the email that showed up in my inbox earlier this week.

Its authors weren’t worrying about my dehydration levels. Rather, they were urging me to think of water in quite a new way: as a commodity to invest in.

Making money from water? Is this what Wall Street wants next?

After spending nearly 30 years of my life writing about business and finance, including several years dedicated to the commodities market, the idea of treating water as a pure commodity – something to bought and sold on the open market by those in quest of a profit rather than trying to deliver it to their fellow citizens as a public service – made me pause.

Sure, I’ve grown up surrounded by bottled mineral water – Evian, Volvic, Perrier, Pellegrino and even more chi-chi brands – but that has always existed alongside a robust municipal water system that delivers clean water to whatever home I'm occupying. All it takes is turning a tap. The cost of that water is fractions of a penny compared to designer bottled water.

more

http://www.theguardian.com/money/2014/jul/27/water-nestle-drink-charge-privatize-companies-stocks

[djean111]

1. I think the head of Nestle gave us a heads up about this.

Privatizing water will be the next big thing, I think. Maybe this will be the thing that sparks a rebellion of some sort.

[gvstn]

2. Papa Bush gave us a heads up back in 2006

http://www.democraticunderground.com/10022473474

[bluedigger]

3. We're almost at the bottom of the slippery slope.

[badtoworse]

4. It will be regulated as a utility the same way as electricity, telephone, cable, gas service, etc.

I don't see a problem.