IN OUR MOMENT OF RABID FOR SALE-ISM, it would be easy to react to the
announcement that even the future of water in California is for sale
with a glib/of course it is/. As ofDecember 7
<https://www.bloomberg.com/news/articles/2020-12-06/water-futures-to-start-trading-amid-growing-fears-of-scarcity>,
the availability of water in the state can be bet on or against by way
of what’s called a futures contract, which allows investors to make a
claim on the future price of water. These are tied to the Nasdaq Veles
California Water Index, which measures the volume-weighted average price
of water, meaning that investors, farmers (read: agribusiness owners),
and climate change onlookers can profit off of growing water scarcity.
As droughts worsen, investors will be able reap the benefits of the
realities of climate change.
https://thebaffler.com/latest/a-bleak-future-for-water-levy-uyeda
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