Wall Street Wants Your Water!

This article was first published on December 21, 2012

A disturbing trend in the water sector is accelerating worldwide. The new “water barons” — the Wall Street banks and elitist multibillionaires — are buying up water all over the world at unprecedented pace.

Familiar mega-banks and investing powerhouses such as Goldman Sachs, JP Morgan Chase, Citigroup, UBS, Deutsche Bank, Credit Suisse, Macquarie Bank, Barclays Bank, the Blackstone Group, Allianz, and HSBC Bank, among others, are consolidating their control over water. Wealthy tycoons such as T. Boone Pickens, former President George H.W. Bush and his family, Hong Kong’s Li Ka-shing, Philippines’ Manuel V. Pangilinan and other Filipino billionaires, and others are also buying thousands of acres of land with aquifers, lakes, water rights, water utilities, and shares in water engineering and technology companies all over the world.

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One thought on “Wall Street Wants Your Water!

  1. Interesting and weird. I think the Balkan countries weren’t short of water when their towns were inundated by burst rivers; other countries have been flooded out in recent years, as have parts of the USA.

    I had to laugh at this: “…rights over enough of the Ogallala Aquifer to drain approximately 200,000 acre-feet (or 65 billion gallons of water) a year.” — what the hell is an acre-foot? When, if ever, will America join the 21st century. Their scientists use the metric system. I can’t imagine their medical researchers talking about injecting “half an ell” of a therapeutic drug!

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