I wrote about PowerShares Water Resources Portfolio (PHO) last month when I bought my initial position. Since then I have been seeing quite a few news reports which make me want to run out and buy more immediately. Here is a random sample:
Water shortage in Gambia results in lack of functioning toilets.
Low water supply in China portends a rise in global grain costs.
Water shortage worsens in the Phillipines.
Critical water shortage in Pakistan forces people to drink polluted water.
Australian companies cash in on water shortage.
Water shortage in Florida forces agricultural users to reduce consumption 15%.
Petroleum refinery in Kenya shut down due to water shortage.
Water shortage in Dominican Republic leads to violent protests.
December 3, 2006 at 4:43 pm |
[...] And Alligator Investor offers this pretty scary list of water-shortage related news from around the world: [...]
December 11, 2006 at 2:42 pm |
Behavioral psychology reminds us to be careful not to succumb to confirmation bias … after making a decision we unconsciously filter news which reaffirms that decision and tune out contradictory information.
December 11, 2006 at 3:32 pm |
Yes, good point. But I haven’t any seen articles about surpluses of good water; however, I do keep seeing articles like this:
The Bush administration is urging a federal appeals court to allow part of a canal separating California and Mexico to be lined with concrete to stop millions of gallons of water from seeping south of the border. The lining project will provide enough water for 135,000 new homes in the San Diego area. A lawsuit seeking to block the project argues that shutting off that seepage would cause significant economic loss on the Mexican side of the border as thousands of acres of farmland would turn to dust.
http://hosted.ap.org/dynamic/stories/C/CANAL_DISPUTE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2006-12-05-09-19-15