Watch the Water?

California Water Futures Begin Trading Amid Fear of Scarcity

Kim Chipman | Bloomberg Green | News | December 6, 2020, 2:00 PM PST Updated on December 7, 2020, 12:58 PM PST

The United Nations has long warned that human-driven climate change is leading to severe droughts and more flooding, making water availability increasingly less predictable. In California, the most recent acute dry spell stretched from December 2011 until March of last year, according to the U.S. Drought Monitor. The most dire effects took hold in July 2014, with 58% of the state’s land suffering “exceptional drought,” leading to crop and pasture losses and other water emergencies.

>https://www.bloomberg.com/news/articles/2020-12-06/water-futures-to-start-trading-amid-growing-fears-of-scarcity?sref=oUjKJw8m

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‘’’Wall Street Begins Trading Water Futures as a Commodity’’’

Environment 360 | Yale School of Environment | December 8, 2020

What this represents is a cynical attempt at setting up what’s almost like a betting casino so some people can make money from others suffering,” Basav Sen, climate justice project director at the Institute for Policy Studies, told Earther. “My first reaction when I saw this was horror, but we’ve also seen this coming for quite some time.

>https://e360.yale.edu/digest/wall-street-begins-trading-water-futures-as-a-commodity