New water bond would let corporations privatize California's water (this is a terrible idea)
State bond lets firms profit from water
Wasn't the last Bond film about corporations trying to privatize water?
The bond bill's author, state Sen. Dave Cogdill, R-Modesto, and other backers of the proposal said the provision provides the state with flexibility for how water storage projects can be financed.
Critics, however, said it opens the door to the privatization of the state's most precious resource as California's population grows and water becomes more scarce. California historically has retained control of publicly financed water projects. Privatization could allow companies to profit by selling back to the public a resource that is essentially the lifeblood of the state economy, or using it for their own profit-making interests like agriculture.
The bond proposal makes no mention of the prospect of private entities benefiting from the water storage projects. The stated purpose of the huge spending proposal is to ensure an adequate supply of safe, clean and reliable drinking water for Californians into the future. It's titled the Safe and Reliable Clean Water Drinking Act of 2010.
