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Maitland NSW 2320
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Water Rights
BPW Women Today Spring 2005
Just last year the NSW State Government separated water rights from property ownership under the guise of environmental management and conservation…..blatant “public hoodwinking”.
It created a new market for a new tradable commodity – water rights. But the market is not satisfied with collecting and trading in these new valuable rights at the expense of people who need water for their land, that is, farmers.
We are now going one step further and letting speculators in on the action. Soon we will have a futures market for water rights and the ground work is well under way.
The following is an excerpt from a recent media release issued by NSW State Water which reads:
"A water index futures market would provide water reliant, or water exposed businesses with an opportunity to hedge their risks to future climatic factors, particularly water availability.
“An ability to hedge future risks leads to better informed investment decisions and in turn stimulates economic activity, creating jobs and more certain profits for businesses,” Mr Wright said.
The establishment of a futures market would enable financial service organisations to develop simple yet effective products for the rural community designed to reduce the impact of drought or flood."
Once upon a time the rural community used to farm their land according to the weather.
Isn’t it wonderful that the technocrats can create a scheme from thin air that gives market speculators the opportunity to make money and at the same time solve farmers’ weather and water problems!