Corporate giant is snapping up 89 BILLION litres of Australia's H20 as the country suffers

[G_j]

https://www.dailymail.co.uk/news/article-7780983/Foreign-company-sells-89-billion-litres-Australian-water-rights-490m-drought.html?ito=facebook_share_fbia-top


Water restrictions for you, an endless supply for them: How a foreign corporate giant is snapping up 89 BILLION litres of Australia's H20 as the country suffers its worst drought ever

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The mega sale of Australian permanent water rights comes as the country is crippled by one of the worst droughts in its history.

On Tuesday, NSW brought in a complete ban on hoses as part of the toughest water restrictions implemented for more than a decade.

But no such problem existed for food and agriculture giant Olam International, which sold the 89billion litres of permanent water rights for an astonishing $490 million.

The company sold it to an entity associated with the Public Sector Pension Investment Board, one of Canada's largest pension investment managers, according to Straits Times.

It will use the water to irrigate almond trees, in a business venture likely to draw criticism over foreign ownership of farms and water.

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[FiveGoodMen]

1. Privitization of water is ridiculous

No one HAS to do that.

And the ones who get talked into it deserve a Darwin Award.

But the rest of us are stuck with their bad choices.

[in2herbs]

5. Nestle has been purchasing water rights world-wide for years. The CEO has said water is not a right.

How much of this water could have gone to quench the thirst of the 10,000 camels they're murdering because the camels have the audacity to want water.

I was going to contribute money to help the animals but I will not do so until I can be assured that none of my money is used to kill an animal for convenience of humans.

[mopinko]

2. planting almond trees right now is prolly the definition of stupid.

both depend so heavily on water and bees. and good weather for the next 30 years.
i cant imagine a farmer thinking this is a smart way to invest right now.

[onethatcares]

3. they don't give a crap about bees

they care about MONEY, MONEY, MONEY, MONEY, MORE MONEY AND MORE AND MORE MONEY. So they take the resources that no one should own and sell them to us for.......................see above.

BTW, they can stick their almonds where the sun don't shine.

[Traildogbob]

4. Good God

Does ALL evil originate from Austrailian Oligarchs. I feel really bad for Australia.....but......Rulert Murdock is burning America to the ground as well. Do they really believe all their cash will be shipped to heaven, and they will be equally as powerful as God? I am thinking they believe that, and they will get 72 virgins, 60 years younger than they. Will heaven ever run out of virgins? Asking for a friend looking for a religion to join?

[Duppers]

8. A guy from India owns Olam International. nt

[BeckyDem]

6. Sick.

[Karadeniz]

7. No, no, no. Sometimes govt needs to step in during an emergency.