Wall Street is thirsting for your water
While water in the West becomes scarcer and droughts more frequent and more severe — thanks in part to changing weather patterns and rising temperatures triggered by carbon emissions — Wall Street views water as an “asset class,” a commodity like stocks, bonds, and real-estate that can generate enormous returns for shareholders, even in severe droughts. Or maybe, especially in water shortages. Institutional investors like One Rock are snapping up water rights just like others are snapping up rental properties to lease back to Americans at a profit…
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