Commentary: Billionaire land buys threaten state ag, water resources
State Senator Melissa Hurtado and Congressman John Garamendi are sounding the alarm on the dangers of when billionaire investors gobble up ag land. On Aug. 29, Senator Hurtado, 16th District and chair of the State Agriculture Committee, hosted an informational hearing at the State Capitol to discuss the unprecedented land purchases in Solano County by Flannery Associates LLC; and to explore possible remedies to prevent private entities and foreign governments from acquiring California agricultural land. … “I don’t think it’s about building a city,” Hurtado said. “I think it’s about water and energy.” She mentioned the state’s futures water market. In 2020, California became the first state to create a futures market for water. With water in the futures market, this means investors are able to trade water the same way they have things like gold, or oil.
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