Venture Capitalists Fight Over Water
Water is essential to human life and to corporate life; great supplies of clean water are needed in many industrial processes. If the investments of a famous Texas oil man are any indicator, the fight over water is just getting started.
T. Boone Pickens is a member of the Forbes 400 with an estimated net worth of over $2.7 billion. His fortune is based on oil and gas. Where is he placing his investments now?
Water rights. His new company, Mesa Water, has been buying up ground water rights in Roberts County, Texas - 200,000 acres in all. He says that over a 30-year period, he expects to make more than $1 billion on his investment of $75 million. Pickens wants to take the water from the Ogallala Aquifer and pump about 200,000 acre feet of groundwater annually to El Paso, Lubbock, San Antonio, or Dallas-Fort Worth - for a price, of course.
(Water rights cost)
Pickens has no qualms about charging people for water and has a ready quip for those who think it wrong to do so. “I know what people say - water’s a lot like air. Do you charge for air? ’Course not; you shouldn’t charge for water,” says he. “Well, OK, watch what happens. You won’t have any water.”
Of course, Pickens is right. Many others are coming to the realization that water is too cheap. Hence, water rights are a great buy today.
Science fiction fans may recal Tank Girl, a dystopian film set in 2033. Water is scarce and a corporate monopoly, Water & Power, controls it. Outlaw groups seek to become "water-independent" by trying to sink a well in the basement of a house.
Read more in T. Boone Pickens invests in water and Water is the new oil; thanks to Moira for pointing this story out.
Scroll down for more stories in the same category. (Story submitted 8/6/2008)
Follow this kind of news @Technovelgy.
| Email | RSS | Blog It | Stumble | del.icio.us | Digg | Reddit |
you like to contribute a story tip?
Get the URL of the story, and the related sf author, and add
Comment/Join discussion ( 2 )
Related News Stories -
Tiny LEDs Developed For Dust-Sized Computers
'They use sparkles to talk to each other...' - Neal Stephenson, 1995.
Seabreacher, H.G. Winter's 1939 Torpoon
'Ken lay full-length in the padded body compartment, his feet resting on the controlling bars of the directional planes, hands on the torpoon's engine levers.' - HG Winters, 1939.
Project Soli Radar Gesture Chip Now FCC Approved
'He waved his hand and the circuit switched abruptly.' - Philip K. Dick, 1955.
Implosion Fabrication Shrinks 3D Objects To Nanoscale
'Carter had watched miniaturization a hundred times...' - Isaac Asimov, 1965.
Technovelgy (that's tech-novel-gee!)
is devoted to the creative science inventions and ideas of sf authors. Look for
the Invention Category that interests
you, the Glossary, the Invention
Timeline, or see what's New.
Michelin Self-Sealing Tires On Ford's Explorer
'...a seal of compressed plastifoam to save the air.'
Mushroom Eats Plastic, Saves Planet
Fungus Amongus, SaveUs!
Juggalo Face Paint Disrupts Facial Recognition
'... designed to foil facial recognition systems.'
Mojipic Smart Voice Vehicle Emojis
KITT, what's your response?
Unusual Twist On Woman Dates Robot
'My hearing, vision and awareness went along with that excellent imitation of a young Adonis...'
BrainNet Triple Telepathic Gaming Threat
'In the gloomy half-darkness the three idiots sat babbling.'
AVAS Noisemakers Required For EVs By EU
'...a sound tape to supply the noise of a soi-disant "[internal combustion]" engine...'
Pun Generation Via Neural Nets
'You said you wanted him to be able to distinguish between laugh-power in different gags...'
Blood Battery Robotic Fish
'With one fluid motion, it surged forward, plunged, and was gone.'
Lightyear One Solar-Powered Electric Car (Design By Heinlein)
'It drew its power from six square yards of sunpower screens on its low curved roof.'
'Agression Detectors' Don't Work When Spying On Students
'The professional agitators had also learned how to modulate their voices below the danger level...'
Mining Of Golden Asteroid Foretold In 1898 Science Fiction
'This must be a golden planet—this little asteroid.'
Miners! NASA Wants To License RASSOR Excavator
'The borers had been dismantled and packed away.'
Bee+ Robobee Now With Four Wings
'It was a tiny thing, scarcely more than an inch and a half in length...'
CNSILK Robotic Spider Builder
'We could certainly spin a web right through the Solar System, if we can think of a good use for one.'
Starshade Will Help Space Telescope To Search For Exoplanets
'When it found planetary systems in its field, automatically shifted upon them a higher powered telespectroscope ...'
More SF in the News Stories
More Beyond Technovelgy science news stories