The water barons: Privatizing the world's water

[Guest guest]

http://www.icij.org/dtaweb/water/

 

The explosive growth of three private water utility companies in the last 10

years raises fears that mankind may be losing control of its most vital

resource to a handful of monopolistic corporations. In Europe and North

America, analysts predict that within the next 15 years these companies will

control 65 percent to 75 percent of what are now public waterworks. The

companies have worked closely with the World Bank and other international

financial institutions to gain a foothold on every continent. They

aggressively lobby for legislation and trade laws to force cities to

privatize their water and set the agenda for debate on solutions to the

world's increasing water scarcity. The companies argue they are more

efficient and cheaper than public utilities. Critics say they are predatory

capitalists that ultimately plan to control the world's water resources and

drive up prices even as the gap between rich and poor widens. The fear is

that accountability will vanish, and the world will lose control of its

source of life.