"Water promises to be to the 21st century what oil was to the 20th century: the precious commodity that determines the wealth of nations," contended "Fortune" magazine in May, 2000. "Fortune" gloated that "the liquid everyone needs...is going private, creating one of the world's great business opportunities."
In some parts of the world, according to the trade journal "Global Water Intelligence," water commands the same price as oil.
In some parts of the world, according to the trade journal "Global Water Intelligence," water commands the same price as oil.
"Fortune" notes that the annual profits of the water industry already amounts to about 40% of those of the oil sector and have surpassed the pharmaceutical sector.
Various multinational companies are rushing to control the big business of water. Two French giants, Vivendi and Suez, currently dominate over 70% of the market. Suez operates in 130 countries and Vivendi in 90. According to a four-part series on water in the "New York Times" in late August, "Corporations own or operate water systems across the globe that bring in about $200 billion a year."
Various multinational companies are rushing to control the big business of water. Two French giants, Vivendi and Suez, currently dominate over 70% of the market. Suez operates in 130 countries and Vivendi in 90. According to a four-part series on water in the "New York Times" in late August, "Corporations own or operate water systems across the globe that bring in about $200 billion a year."
They currently serve 5-7% of the world's population; activists around the globe seek to limit that market's growth.
What's next? Will corporations claim the air and sell it to us? Claiming the multiple blessings of water - or air, stars, the sky, the sun - as your private property and selling it is a preposterous idea. Water and all the divine elements should be shared, rather than made into a commodity and sold to the highest bidder. They should remain part of the commons.
What's next? Will corporations claim the air and sell it to us? Claiming the multiple blessings of water - or air, stars, the sky, the sun - as your private property and selling it is a preposterous idea. Water and all the divine elements should be shared, rather than made into a commodity and sold to the highest bidder. They should remain part of the commons.