In Africa, nearly two-thirds of the population who live in rural areas, lacks an adequate water supply.
Larry Edelson's article "A Crisis Beyond Comprehension" provides an overview on the world water crisis.
Here's the first section of his article:
No, I’m not talking about the global financial crisis. Nor am I talking about the AIG disaster … Citibank’s failure … the collapse of GM or Ford. I’m not even referring to the Dow’s recent plunge to below 7,000.
Don’t get me wrong: I am not minimizing the financial crisis that’s affecting people all over the world.
I just don’t want anyone to forget about a crisis that’s killing 12 million people per year, including 10,000 children per day.
I’m talking about the worst crisis of all time, the intense and critical shortage of water … pure fresh water. What I call “blue gold” — a term I coined back in 2004 to describe one of the most precious natural resources of all and to help motivate others to take notice of the growing crisis.
Festering for years, sadly, the world’s water crisis is now getting worse by the day. And the global financial and credit crisis is merely one reason why.
Another is the ongoing modernization of major parts of the world, which continues despite the world’s financial meltdown. This is increasing demand for water, while at the same time polluting it.
Yet another is major droughts around the world, including in our own back yard, where 60 percent of the U.S. is officially experiencing a drought. In fact, California Governor Arnold Schwarzenegger declared a state of emergency just last weekend due to the state’s now three-year running water crisis, its worst on record.
Neither Wall Street nor Washington is doing much about the water crisis. Even the recent infrastructure spending bill has largely ignored it … allocating only $6 billion over the next 20 years to water projects.
And the rest of the world isn’t doing much either. All told, I count less than $80 billion in spending going toward saving the lives of those who are dying from lack of water.
This excerpt was republished from Monday and Markets under the agreement of providing attribution to the author (Larry Edelson) and this paragraph:
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