USFS Issues Nestlé Permit for 36 Million Gallons of Water for $524

[cubby]

Because the rates for Federal Water Rights were set back in the first Golden Age of the 80's.... no the 1880's. The same goes for grazing rights and mineral rights. These laws have not been updated in over a hundred years.
The rights themselves are basically hereditary. Basically Asshole Bundy Jr gets to inherit the grazing rights of Asshole Bundy Sr for that allotment of land. Unless they stop paying or abuse the grazing area ... well those laws dont apply to rural white people.

Anyways Nestle basically bought up the historical water rights from the previous owners. So they get those sweet inherited rates for ... perpetuity. Its a sweethart rent control scheme for the biggest rent seekers out there.

I lost the link, but some people have gone through every deed to state and federal water rights in California. The addresses of the deed holders were overwhelmingly in Beverly Hills, San Francisco, and some PO box in Delaware.

Jesus, and with water shortage being such a huge issue. And Nestle was already such a deplorable company . . . .

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Stop drinking bottled water. Get a filter, use your tap, and they will make less bottled water. This won't happen, but it is that or run for office and do something. Assuming our capitalistic Democracy is going to do something that doesn't actually benefit the bottom line of the company is stupidity at this point. Don't worry we'll get a new SCOTUS judge and approve more monopoly mergers. Gilded Age is here in full effect. Glad I have a degree that relates to decent money that won't be replaced by a robot anytime soon.

You are absolutely right and very good call re your degree (engineering?). We're pushing our kids towards computer science and/or engineering. That, or we'll move to Canada. Just seems to get worse every single day.

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When is Nestle going to start selling the air we breath? They'll be gunning for that as the next commodity to profit off.

Did you ever see that movie The Big Short? The lead investor who saw the mortgage crisis coming, got out of all investing after he made a bundle from the collapse, except water rights. Sent a chill down my spine when I saw that note at the end.

[Milchshake]

Did you ever see that movie The Big Short? The lead investor who saw the mortgage crisis coming, got out of all investing after he made a bundle from the collapse, except water rights. Sent a chill down my spine when I saw that note at the end.

That was the Scion Fund investor Dr. Michael Burry. Investors have been snapping up water rights for ages. Probably only more acute now with mapping technologies helping them to figure out the most vulnerable areas and the most valuable resources.

Also in the background, investors are snapping up farming areas. They're targeting the most arable and productive areas. Taking to friends in rural Washington and California many of the bemoan that it's impossible for young people to start farms on their own anymore. In their words the only way to get into farming these days was to, "marry into it or inherit it."

[Ivanstone]

Did you ever see that movie The Big Short? The lead investor who saw the mortgage crisis coming, got out of all investing after he made a bundle from the collapse, except water rights. Sent a chill down my spine when I saw that note at the end.

https://en.wikipedia.org/wiki/Oxygen_(Doctor_Who)

Just waiting for the day when Oxygen is a commodity.

[Zoldor]

Jesus, and with water shortage being such a huge issue. And Nestle was already such a deplorable company . . . .

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You are absolutely right and very good call re your degree (engineering?). We're pushing our kids towards computer science and/or engineering. That, or we'll move to Canada. Just seems to get worse every single day.

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Did you ever see that movie The Big Short? The lead investor who saw the mortgage crisis coming, got out of all investing after he made a bundle from the collapse, except water rights. Sent a chill down my spine when I saw that note at the end.

Nah, not engineering. Lawyer. Until AI gets really good I'm protected and that should be about the time I'm ready to retire. Around then it should get good enough to replace people and argue the Grey area. Also, the law is like 20 to 30 years behind tech wise. Hell there are judges that don't even have computers in their office to this day.

[Z-Man]

Seems it's at least better than letting the government handle your water supply.

At least Nestle won't try to poison you.

Depends on if how much plastic you like in your water. Nestle has some of the highest level of "extras" in their water bottles.

https://orbmedia.org/stories/plus-plastic

[cubby]

That was the Scion Fund investor Dr. Michael Burry. Investors have been snapping up water rights for ages. Probably only more acute now with mapping technologies helping them to figure out the most vulnerable areas and the most valuable resources.

Also in the background, investors are snapping up farming areas. They're targeting the most arable and productive areas. Taking to friends in rural Washington and California many of the bemoan that it's impossible for young people to start farms on their own anymore. In their words the only way to get into farming these days was to, "marry into it or inherit it."

Right - thanks. Water rights are the future, and agreed, they are getting more and more valuable.

Agree re farming.

[Doctor Funkenstein]

I'm talking about privatized water supply. You can't choose which corporation supplies the water to my tap.

Holy shit, that's what you're talking about? XD Hilarious.

Man, this world needs some serious sterilization of Stupid(tm).

[Khaza-R]

So Nestle, is getting free water (524$) and then selling it back to US citizens, for a huge profit????

How the hell is this even possible???

Here in Denmark or the EU, that wouldnt happen in a million years (Atleast, I hope it wont)

How much is a gallon of Nestle water anyways?

The US is incredibly corrupt, non-transparent country where lobbying controls virtually every facet of lawmaking.

The idea that it is a "free country" is one of the biggest bullshit stories ever told.