A widely shared list on social media named 265 Conservative MPs who voted to “allow” the process to continue.Īfter record droughts last summer, rationing is also under review. Last month, water quality became a key issue at local elections after figures from the Environment Agency showed companies pumped sewage into England’s waterways 855 times a day on average last year. The UK, where pressure is rising on the water companies privatised since Thatcher. Public anger at the shortages has spilled out onto the streets. The US embassy reported that current reservoirs of drinking water for the capital Montevideo would last 18 days in current conditions. Uruguay, where the national water company has begun mixing limited amounts of salt water from the River Plate estuary into its drinkable water after extended drought became acute this month. Local politicians on both sides are “making impossible promises around water availability.” In Andalucia a plan to allow more irrigation from the Doñana river is pitting conservationists against farmers and is being challenged by Brussels for breaching EU law. Spain, where as of this month 80 per cent of the countryside was affected by drought. Other countries might take note, including It acknowledges that a wholly market-driven approach to water management can’t last in a warming world. True to form, the approach taken by the Biden administration is decidedly interventionist. Colorado has more lawyers specialising in water rights than the rest of the US combined. Native American tribes have filed repeated legal claims arguing they have been denied their share. Matthews says the law favours “entrenched interests” by granting claims to water on the basis of “first-in-time, first-in-right”. It rewrites an 100 year-old legal framework known as the Law of the River which currently allocates more water than the river provides. “Governance is a more powerful tool, but it’s also more difficult.” “There’s a wide sense, especially among politicians, that the solution is new infrastructure to help with floods, droughts and water management,” says John Matthews, executive director of the Alliance for Global Water Adaptation. It achieves consensus on an issue that has long been anathema to electorates around the world: water rationing. That said, the deal is remarkable for two reasons: The flow of the Colorado has declined 20 per cent since the start of the century as desert crops, thirsty livestock, housing developments and climate change have taken their toll. It would likely take 10 to 15 years of this year’s record snowpack to fill the historic Hoover Dam, currently at less than a third of capacity. So what? It’s a breakthrough – but also a sticking plaster. The wettest winter seen in the Rockies for decades helped to sweeten it. The federal government is backing the deal with $1.2 billion in funds, doled out to the owners of water-rights in exchange for voluntary cuts. Arizona, Nevada and California have agreed to cut consumption by 13 per cent in an attempt to sustain the livelihoods of 40 million people that rely on the river for drinking water and electricity. US states have just struck an unprecedented three-year deal to ration water supplies from the shrinking Colorado River. “Michael Burry is focusing all of his trading on one commodity: water.” That’s the final line of The Big Short, the film about a short-seller who made a fortune betting against the housing bubble.īurry’s not the only one to realise how precious it has become.
Axa, Allianz and three other major insurers quit the Net Zero Insurance Alliance after mounting political pressure in the US.
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