Watch this disturbing investigative video from CBS here.
An historic drought fueled by climate change and overuse of Colorado River water is turning water in the West into a very hot commodity. Wall Street now sees dollar signs in the drought. Private investors are betting that in a hotter and drier future, water is the new oil. We are talking potentially billions of dollars at stake.
Scarce clean water is the resource defining this century, much like plentiful oil defined the last. There are real fears that this crucial water supply for the West is on the brink of disaster and that is a problem for people all over the West, including ranchers high in the Colorado Rockies.
Andy Mueller, general manager of the Colorado River District, says the companies buying up Colorado agricultural lands for the water right are “speculators,” betting that as the West gets drier those with water rights will get richer. “Water in Colorado, water in the West, is is your future. Without water you have no future. These are folks that have identified the drought as an opportunity to make money. I view these private drought profiteers as vultures. They're looking to make a lot of money off this public resource.“