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Only in a few places like California. Out there they also have esoteric water rights rules that give farmers first dibs 'because they were there first' instead of letting the market do its thing. Here in greater NYC we have no problems. I think we've gotten about 6" of rain this week alone.
Its because of these poor staring farmers we have. They are barely making it through. Especially the avocado and almond farmers. Woe is they.
NYSE: PNR
I've been holding for years and plan on holding for the foreseeable future. The largest aquifer is expected to run out of water by 2039 around the same time we are going to run out of oil. Unless major environmental and sustainable innovation occurs.
We're not going to run out of oil by 2039.
I mean, it is technically a finite resource in many places while abundant in many others. I can't imagine why someone (individual or sovereign territory) should NOT be allowed use financial instruments in order to more easily meet their water needs or derive benefit from ownership of water that is "theirs." You can get into the whole "water is a human right" thing which I frankly disagree with as I'm of the opinion that no physical resource or service can be considered a "right" because no one is entitled to someone else's labor and or property.
Surprised this wasn't done sooner tbh. Anything can be traded as far as I'm concerned.
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