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Wednesday, July 30

U.S. water cost increased 33 percent between 2010-2014: Water Crisis Gordian Knot, Part 10

Need to find the water from somewhere, fast.

"For the past century, water use has been increasing at more than twice the rate of the population increase"

The Life-Threatening Problem of Water Scarcity in the World

July 21, 2014

Liquid Investments

Nestlé’s Chairman, Peter Brabeck has added considerable influence to the issue of strategic water supplies. As the head of one of the world’s biggest food companies, he has stated quite bluntly that the problem of water scarcity is a far more urgent crisis than climate change. In his view, much greater attention needs to be devoted to this predicament.

Society has been treating water as a free and infinite raw material and as governments implement tougher rules for its use, the cost of water will continually increase around the world. By 2030, demand for freshwater is now expected to exceed global supply by around 40%, affecting both populations and economies, according to the 2030 Water Resources Group.

For the past century, water use has been increasing at more than twice the rate of the population increase, as highlighted by the Food and Agriculture Organization (FAO). With a current world population of 7.6 billion and forecasts suggesting a further 40% rise in the population to 9.6 – 10 billion by 2050, water usage will need to triple to a minimum of 10 trillion cubic meters (105.94 trillion cubic feet) a year in order to meet the increased future demand.

Nowadays, the agricultural sector already accounts for 70% of the total global water use. According to the FAO, there will be a need for a 70% expansion in global food production up to the mid-century point, meaning that there will be a greatstress on water to be able produce enough food for all world consumers.

With water being an essential resource for different industries such as agriculture, energy, mining and high-tech; it will continue to impact companies around the world. In the US, between 2010 and 2014, the average water price had increased by 33%, widely affecting different companies. At the same time, in the three years up to 2014, companies such as Nestlé, Coca-Cola, Ford, and Rio Tinto have spent more than $84 billion in improving the way they conserve, manage and obtain water consistent with data from the Global Water Intelligence and the Financial Times.

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