Summary #1404

Wall Street Begins Trading Water Futures as a Commodity

e360.yale.edu
  • Like gold or oil, water has become a commodity traded on Wall Street.
  • The Chicago Mercantile Exchange launched the first water market with $1.1 billion contracts tied to water prices in California.
  • Farmers, hedge funds and municipalities can bet on the future prices of water, and future water available in western US.
  • Water scarcity and water pricing are going to become a “hot topic” in the years to come.
  • This could help farmers protect their revenues, but putting a basic human right in the hands of financial institutions and investors might be dangerous in the long term.

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