Financialization of Water: Conceptual Analysis of the California Water Crisis

Water is a rapidly shrinking commodity. As we continue to use water for industry, farming, and sustaining our own lives, we must realize its intrinsic value. In December of 2020, water was given a new value as a future on a commodities market. This paper aims to discuss the practical, ethical, and f...

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Autores principales:	Christian Orobello, Giuseppe T. Cirella
Formato:	article
Lenguaje:	EN
Publicado:	Frontiers Media S.A. 2021
Materias:	water commodity tiered water bills non-price policy water rights water privilege NQH2O Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/901b61f09d174a41b529a3f2a9604aba
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spelling	oai:doaj.org-article:901b61f09d174a41b529a3f2a9604aba2021-12-02T10:34:32ZFinancialization of Water: Conceptual Analysis of the California Water Crisis2296-665X10.3389/fenvs.2021.739180https://doaj.org/article/901b61f09d174a41b529a3f2a9604aba2021-12-01T00:00:00Zhttps://www.frontiersin.org/articles/10.3389/fenvs.2021.739180/fullhttps://doaj.org/toc/2296-665XWater is a rapidly shrinking commodity. As we continue to use water for industry, farming, and sustaining our own lives, we must realize its intrinsic value. In December of 2020, water was given a new value as a future on a commodities market. This paper aims to discuss the practical, ethical, and financial considerations of trading water in this manner. A thorough conceptual analysis of the literature and research from 2009 to 2020 related to commodities and their history was performed, and a more contemporary review of water policy and pricing. The goal is to develop a mixed solution that gives value to water without allowing it to be exploited to the detriment of the poor; water must be accessible and affordable if it is to be managed ethically. Approaching water as a high-value resource might create a market that makes it unobtainable for most of us; however, with a system that controls pricing, creates standards, and simultaneously works to increase the supply of water, we may be able to create a “market.” Our critique of the research and available solutions indicates rising water prices and mostly regressive policies. As a result, market controls need to be implemented to control pricing while ensuring water availability for all.Christian OrobelloGiuseppe T. CirellaFrontiers Media S.A.articlewater commoditytiered water billsnon-price policywater rightswater privilegeNQH2OEnvironmental sciencesGE1-350ENFrontiers in Environmental Science, Vol 9 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	water commodity tiered water bills non-price policy water rights water privilege NQH2O Environmental sciences GE1-350
spellingShingle	water commodity tiered water bills non-price policy water rights water privilege NQH2O Environmental sciences GE1-350 Christian Orobello Giuseppe T. Cirella Financialization of Water: Conceptual Analysis of the California Water Crisis
description	Water is a rapidly shrinking commodity. As we continue to use water for industry, farming, and sustaining our own lives, we must realize its intrinsic value. In December of 2020, water was given a new value as a future on a commodities market. This paper aims to discuss the practical, ethical, and financial considerations of trading water in this manner. A thorough conceptual analysis of the literature and research from 2009 to 2020 related to commodities and their history was performed, and a more contemporary review of water policy and pricing. The goal is to develop a mixed solution that gives value to water without allowing it to be exploited to the detriment of the poor; water must be accessible and affordable if it is to be managed ethically. Approaching water as a high-value resource might create a market that makes it unobtainable for most of us; however, with a system that controls pricing, creates standards, and simultaneously works to increase the supply of water, we may be able to create a “market.” Our critique of the research and available solutions indicates rising water prices and mostly regressive policies. As a result, market controls need to be implemented to control pricing while ensuring water availability for all.
format	article
author	Christian Orobello Giuseppe T. Cirella
author_facet	Christian Orobello Giuseppe T. Cirella
author_sort	Christian Orobello
title	Financialization of Water: Conceptual Analysis of the California Water Crisis
title_short	Financialization of Water: Conceptual Analysis of the California Water Crisis
title_full	Financialization of Water: Conceptual Analysis of the California Water Crisis
title_fullStr	Financialization of Water: Conceptual Analysis of the California Water Crisis
title_full_unstemmed	Financialization of Water: Conceptual Analysis of the California Water Crisis
title_sort	financialization of water: conceptual analysis of the california water crisis
publisher	Frontiers Media S.A.
publishDate	2021
url	https://doaj.org/article/901b61f09d174a41b529a3f2a9604aba
work_keys_str_mv	AT christianorobello financializationofwaterconceptualanalysisofthecaliforniawatercrisis AT giuseppetcirella financializationofwaterconceptualanalysisofthecaliforniawatercrisis
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Financialization of Water: Conceptual Analysis of the California Water Crisis

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