When it Comes to Precious Water, Is it Better to Be a Renter or an Owner? In the United States, 86 percent of Americans receive their water services from a publicly owned and operated utility. But for-profit firms have made inroads in recent decades and see public water as a new profit center. In 2011, Citigroup economist Willem Buiter predicted that 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. Any solution to the Monterey Peninsulas serious water problem demands long term planning, long term investment and a consistent public planning process unfettered by short term demands for shareholder profitability. Public ownership and public control would make the whole process easier and remove conflicts of interest, Wenonah Hauter, Executive Director of the non-profit watchdog group Food & Water Watch, told CMD.
Posted on: Fri, 01 Nov 2013 20:41:02 +0000