Water Futures Report 2010
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Transcript of Water Futures Report 2010
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8/8/2019 Water Futures Report 2010
1/40
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8/8/2019 Water Futures Report 2010
2/40
@cl{q Z@COheeks vej4 Lgk ln qmk rlseaz e`sbkzq cskrksz% Z@COheeks
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vklvek `ga g`q{sk qmsh~k qlbkqmks' Qmk z{zq`hg`cek {zk ln nskzm r`qks
hz lgk z{jm jm`eekgbk / zl rk ak~kelv jlgjkvqz% qllez `ga `vvsl`jmkz
nls qmk vsh~`qk zkjqls qm`q `aaskzz c{zhgkzz shzi qmsl{bm ckqqks
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kgqksvshzk nls z{zq`hg`cek ak~kelvokgq rhqm rlsearhak lvks`qhlgz%
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lcdkjqh~kz' BQT vsl~hakz ~h`cek% nlsr`sa/ellihgb zle{qhlgz nls
vlehqhj`e% kjlglohj% kjlelbhj`e `ga zljh`e ak~kelvokgq
hg ` belc`ehzka rlsea' Zlokqhokz rlsihgb {gaks ahnj{eq
jlgahqhlgz% BQT vslolqkz jlovek} sknlsoz `ga jm`gbk vsljkzzkz'
Hqz jlsvls`qk lcdkjqh~k hz ql hovsl~k vklvekz eh~hgb jlgahqhlgz lg
` z{zq`hg`cek c`zhz'
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dlhgqex skek`zka cx Z@COheeks vej% RRN/[I `ga BQT% qmhz alkz glq
hovex qm`q qmk lsb`ghz`qhlgz `vvsl~k ln% ls z{vvlsq% qmk `jqh~hqhkz
`ga,ls ~hkrz qm`q qmk lqmksz o`x m`~k lg lqmks hzz{kz l{qzhak qmk
zjlvk ln qmhz skvlsq'
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0'0 R`qks hz ` ~`e{`cek skzl{sjk 63
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0': Q`ihgb `g hggl~`qh~k v`sqgkszmhv `vvsl`jm 63
0'1 [zhgb mlehzqhj `ga slc{zq okqmlalelbx 6:0'; @ zm`ska jloohqokgq ga ~hzhlg 6:
3'6 R@Q4 ZM@A ZIZ QM 30ZQ JQ[x 61
3'0 [gakszq`gahgb qmk hzz{kz 61
3'3 Skjlbghzhgb qmk zm`ska shziz 61
3': Z@COheeksz `vvsl`jm ql r`qks o`g`bkokgq 6;
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2'3 Qmk n{q{sk ln R`qks N{q{skz :>
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8/8/2019 Water Futures Report 2010
3/4060K}K{K {
K}kj{qh~k z{oo`sx
ek`sex% qmk vlqkgqh`e kjlglohj% zljhkq`e `ga ak~kelv/
okgq`e knnkjqz ln qmhz `sk vslnlga% cq ckj`zk qmk
hov`jqz ln r`qks zj`sjhqx sk lnqkg nkeq elj`eex ga bs`a/
`eex% qmk skzvlgzk ln bl~ksgokgqz hz lnqkg ns`bokgqka
`ga rk`i' mhz ok`gz qm`q qmk skzvlgzhchehqx ql `aaskzz
zm`ska shziz `shzhgb nslo qmk gzzq`hg`cek o`g`bk/
okgq ln r`qks hgjsk`zhgbex n`eez ql elj`e zq`ikmleaksz'
g o`gx r`xz qmhz o`ikz zkgzk% `z qmk shziz n`jhgb
qmk elj`e jlooghqx% czhgkzzkz `ga kjlzxzqkoz `sk
lnqkg ghpk `ga skphsk elj`e iglrekabk `ga hgzhbmq
ql q`jiek qmko' z ` jlgzkpkgjk% elj`e vslcekoz `sk
z`eex ckzq zle~ka cx elj`e zq`ikmleaksz rlsihgb
qlbkqmks ql akeh~ks ok`ghgbne jm`gbk lg qmk bslga'
kjlbghzhgb qmhz% Cheeks% RRN `ga BT m`~k
dlhgka nlsjkz ql jsk`qk qmk R`qks Nqskz v`sqgkszmhv'
mhz v`sqgkszmhv `hoz ql n`jhehq`qk elj`e `jqhlg% rmhezq
vsl~hgb qmk czhgkzz j`zk nls vsh~`qk zkjqls kgb`bkokgq
hg vslolqhgb qmk zzq`hg`cek o`g`bkokgq ln r`qks
skzlsjkz `ga zm`shgb qmk ekzzlgz ek`sgq'
L~ks qmk v`zq xk`s% qmk qmskk v`sqgksz m`~k rlsika
qlbkqmks hg Vks% `gt`gh`% {is`hgk `ga lqm nshj`
ql ckbhg qmhz vsljkzz% cheahgb lg rlsi gaksq`ikg cx
Cheeks `ga RRN hg qmk tkjm kvcehj `ga lqm
nshj` hg 366=$' g k`jm jlgqsx akq`heka r`qks nllq/
vshgqz m`~k ckkg gaksq`ikg ql vsl~hak bsk`qks hgzhbmq
`ga `g hg/akvqm gakszq`gahgb ln qmk shziz n`jka' Rhqm
qmhz iglrekabk% qmk v`sqgkszmhv m`z ckkg `cek ql as`r
qlbkqmks skek~`gq elj`e zq`ikmleaksz ql ak~kelv ` zm`ska`vvsl`jm ql q`jiek hzzkz qm`q m`~k koksbka'
mk gahgbz ln qmkzk nllqvshgqz% hgjeahgb ` p`gqh/
j`qhlg ln qmk r`qks zka qmslbmlq Cheeksz ~`ek
jm`hg nslo jslv vslajqhlg ql ahzqshcqhlg ln vslajqz%
`sk vskzkgqka rhqmhg qmhz skvlsq% `elgb rhqm ` zoo`sx
ln qmk ikx shziz hakgqhka hg k`jm jlgqsx'
mk skzeqz zmlr jlgzhaks`cek ~`sh`qhlg ckqrkkg qmk
nllqvshgqz s`gbhgb nslo >0 ehqskz ln r`qks vks ehqsk ln
ckks vslajka hg Vks ql 0=6 ehqskz vks ehqsk hg `gt`gh`'
mk ~`sh`qhlg jek`sex heezqs`qkz qmk hov`jq ln elj`e
n`jqlsz `q ve`x lg r`qks jlgzoka rhqmhg Cheeksz~`ek jm`hg' q hz nls qmhz sk`zlg qm`q rk al glq qmhgi hq hz
zkne ql jlov`sk qmhz bsk ahskjqex ckqrkkg jlgqshkz
ls k~kg skbhlgz ql b`bk qmk ske`qh~k hov`jq% cq s`qmks
Kgz{shgb qmK `~`he`chehqx ln r`qKs ql qmlzK
rml gKKa hq hz `sb{`cex lgK ln qmK rlseaz
olzq vsKzzhgb hzz{Kz' hq hz ehiKex qm`q qmhz
rhee cKjloK K~Kg olsK zl `z vlv{e`qhlgz
`sK vsKahjqKa ql bslr% qmK r`x rK {zK e`ga
jm`gbKz ga qmK hov`jq ln jeho`qK jm`gbK
cKjloKz olsK `vv`sKgq'
ql zk qmk hgnlso`qhlg b`qmkska ql b`hg ` ckqqks gaks/
zq`gahgb ln mlr r`qks hz zka rhqmhg qmk ~`ek jm`hg'
g `ee j`zkz qmk ~`zq o`dlshqx ln r`qks zka ske`qkz ql
qmk jeqh~`qhlg ln s`r jslvz -l~ks 86+ hg `ee j`zkz(%
`eqmlbm qmksk hz zlok ~`sh`qhlg ckqrkkg jlgqshkz
hg qksoz ln mlr ojm ln qmhz r`qks ske`qkz ql jslvz
bslrg hg jlgqsx `ga hovlsqka vslajk' sb`cex%
`z qmhz kekokgq ln qmk r`qks nllqvshgq hz glq ahskjqex
gaks Cheeksz jlgqsle% hq hz qmk olzq jm`eekgbhgb ql
`aaskzz% cq hq zvvlsqz qmk czhgkzzz ho ql kgjls`bk
kgqksvshzk ak~kelvokgq `ga rlsi jelzkex rhqm elj`e
zvvehksz ql vslolqk ckqqks n`sohgb vs`jqhjkz% hgjeahgb
r`qks zqkr`sazmhv'
mk p`gqhnhj`qhlg ln qmk bskx r`qks nllqvshgq -`
ok`zsk ln r`qks vleeqhlg zzljh`qka rhqm qmk vslaj/
qhlg ln vslajqz% s`qmks qm`g r`qks jlgzoka ql o`ik
qmko(% hz vslceko`qhj `z qmk okqmlalelbx sko`hgz
hg hqz k`sex zq`bkz ln ak~kelvokgq' Ckj`zk ln qmhz
gjksq`hgqx hq hz kjeaka nslo qmk qlv ek~ke r`qks nllq/
vshgq gocksz% `eqmlbm rk hgjeak hq hg qmhz skvlsq nls
jlovekqkgkzz `ga qs`gzv`skgjx' Mlrk~ks% k~kg eelrhgb
nls qmkzk ehohq`qhlgz% hq hz jek`s qm`q hg zlok ve`jkz% zjm
`z Vks ga {is`hgk% qmk olgq ln bskx r`qks hz zhbgh/
j`gq ga qm`q qmk slek ln bshjeqs`e vs`jqhjkz rhqmhg
skbhlg m`z n`s bsk`qks hov`jq qm`g vsk~hlzex qmlbmq'
Rmhezq Cheeks m`z jlgqhgka ql ak~lqk zhbghnh/
j`gq o`g`bkokgq qhok `ga skzlsjkz ql hovsl~k qmk
r`qks knjhkgjx ln qmk cskrkshkz `ga clqqehgb ve`gqz hq
lvks`qkz% rmhjm hq m`z algk rhqm zlok zjjkzz hg qmk
jlgqshkz jl~kska rhqmhg qmhz skvlsq% qmk R`qks Nqskz
v`sqgkszmhv m`z n`jhehq`qka ` rhaks ahzjzzhlg rhqm elj`e
zq`ikmleaksz ql elli ckxlga qmk clga`shkz ln hqz lrg
lvks`qhlgz'
g k`jm jlgqsx jl~kska cx qmhz skvlsq% rlsizmlvz m`~k
ckkg mkea rhqm GBLz% bl~ksgokgq skvskzkgq`qh~kz% elj`e
czhgkzzkz `ga lqmksz zq`ikmleaksz ql ckbhg ak~kelvhgb
akq`heka r`qkszmka vslqkjqhlg vslbs`ookz c`zka lg qmk
`zzkzzokgq ln qmk shziz hakgqhka qmlbm qmhz rlsi' q
hz qmk qs`gze`qhlg ln qmhz qmklsx hgql vs`jqhjk qm`q rhee
o`ik ` jm`gbk hg qmlzk jlooghqhkz qm`q sk`eex gkka hq'
L~ks qmk jlohgb olgqmz qmk R`qks Nqskz v`sqgks/
zmhv rhee jlgqhgk ql kgb`bk rhqm zq`ikmleaksz hg Vks%
`gt`gh`% {is`hgk ga lqm nshj`' Rk skjlbghzk qmhz hz
dzq qmk szq zqkv hg elgbks vsljkzz% cq hq hz lgk rmhjm
o`x vsl~hak ckgknhqz o`gx qhokz bsk`qks hn% qmslbm
rlsihgb qlbkqmks% rk `sk `cek ql zkjsk ` r`qks nqsk
nls qmlzk `sk`z olzq `q shzi'
$ Cheeks ga RRN' R`qks Nllqvshgqhgb4 akgqhnxhgb ga aaskzzhgb r`qksshziz hg qmk ~`ek jm`hg -3668('
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8/8/2019 Water Futures Report 2010
4/4063
0'6
Vskn`jk4 rlsihgbqlbkqmks nls `zkj{sk r`qks n{q{sk
0'0 R`qks hz ` ~`e{`cek skzl{sjk
Kjlglohj ak~kelvokgq jlochgka rhqm vlve`qhlg
bslrqm ok`gz qm`q rk `sk jlgzohgb olsk r`qksqm`g k~ks cknlsk' g `sk`z rmksk r`qks hz vekgqhne qmhz
o`x glq ck ` vskzzhgb hzzk cq qmksk `sk v`sqz ln qmk
rlsea rmksk qmhz hz glq qmk j`zk `ga hqz `~`he`chehqx hz
` zhbghj`gq hzzk nls qmk vklvek% czhgkzz `ga kjlzxz/
qkoz' R`qks hz ` ~`e`cek skzlsjk% cq hg o`gx j`zkz hq
hz vllsex o`g`bka'
skjkgq zqax gaksq`ikg cx qmk 36:6 R`qks kzlsjkz
Bslv0% ln rmhjm Cheeks hz ` okocks `ga rmhjm r`z
`a~hzka cx RRN% nlga qm`q qmksk jlea ck ` vlqkgqh`e
zmlsqn`ee ln 16+% hg r`qks skzlsjkz `~`he`cek `jslzz qmk
rlsea cx 36:6' jjlsahgb ql qmk {ghqka G`qhlgz3% r`qks
zj`sjhqx `nnkjqz k~ksx jlgqhgkgq `ga `eolzq lgk nqm ln
qmk rlseaz vlve`qhlg eh~k hg `sk`z ln vmxzhj`e zj`sjhqx'
RRNz Eh~hgb Ve`gkq kvlsq: m`z zmlrg qm`q nskzmr`qks
chlah~kszhqx hz hg s`vha akjehgk `jslzz qmk rlsea'
0'3 @ belc`e vslceko rmhjm gkkaz elj`e zle{qhlgz
mhz% `ga lqmks skzk`sjm% zbbkzqz qm`q r`qks hz qsex
` belc`e vslceko' Mlrk~ks% qmk n`jqlsz qm`q jlgqshcqk
ql qmk hzzk% zjm `z elj`e jeho`qk `ga bklbs`vmx% `sk
lnqkg ghpk ql ` zvkjhj skbhlg ls jlgqsx' l q`jiek
qmhz hzzk qmksknlsk skphskz `g `vvsl`jm qm`q j`g
m`sgkzz qmk zj`ek `ga kvksqhzk ln belc`e lsb`ghz`/
qhlgz% rmhezq kg`cehgb zvkjhnhj elj`e r`qks hzzkz ql
ck hakgqhnhka `ga nls elj`e zq`ikmleaksz ql ck as`rg
qlbkqmks ql `aaskzz qmko' Rk ckehk~k qm`q elj`e r`qks
jm`eekgbkz `sk z`eex ckzq zle~ka hg v`sqgkszmhv rhqm
GBLz% elj`e bl~ksgokgqz% jlooghqhkz `ga lqmks
elj`e czhgkzzkz'
0': Q`ihgb `g hggl~`qh~k v`sqgkszmhv `vvsl`jm
kjlbghzhgb qmhz% hg Gl~kocks 3668 qmk R`qks Nqskz
V`sqgkszmhv r`z e`gjmka ckqrkkg Cheeks% RRN ga
BT -`jqhgb lg ckm`en ln qmk Nkaks`e Bkso`g hghzqsx ln
Kjlglohj l/lvks`qhlg `ga Ak~kelvokgq('
R`qks Nqskz `hoz ql vsl~k qmk czhgkzz j`zk nls
vsh~`qk zkjqls kgb`bkokgq hg vslolqhgb qmk zzq`hg`cek
o`g`bkokgq ln r`qks skzlsjkz' mhz j`zk rhee ck cheq
lg g zzkzzokgq ln r`qks shziz qmslbmlq Cheeksz
~`ek jm`hg ga g vvskjh`qhlg ln mlr ql ohqhb`qk qmkzk
shziz' mk v`sqgkszmhv zkkiz ql zm`sk qmk ekzzlgz ek`sgq
qmslbmlq qmk czhgkzzz belc`e lvks`qhlgz rhqm lqmks
zq`ikmleaksz ql vslolqk ckqqks r`qks zqkr`sazmhv' mk
nga`okgq`e jlgjkvq gaksvhgghgb qmk v`sqgkszmhv
hz qm`q ` e`ji ln r`qks zkjshqx vskzkgqz shziz qm`q `skzm`ska cx qmk czhgkzz% lqmks r`qks zksz% kjlzxzqkoz
`ga bl~ksgokgqz'
RRN `ga Cheeks m`~k vsk~hlzex rlsika qlbkqmks
ql `aaskzz r`qks hzzkz hg jlgqshkz zjm `z leloch`%
Mlgas`z `ga lqm nshj`' mk jsk`qhlg ln qmhz belc`e
v`sqgkszmhv% `ga qmk rkejlok hgjezhlg ln BT% zqkoz
nslo `g gakszq`gahgb qm`q k~kg qmlbm ls olqh~`/
qhlgz o`x ck ahnnkskgq% k`jm ln ls lsb`ghz`qhlgz hz `cek
ql cshgb ghpk ziheez `ga jlovkqkgjhkz skphska ql
`aaskzz qmkzk hzzkz'
eolzq ` xk`s lg% qmk qmskk v`sqgksz `sk jlee`cls`qhgbhg Vks% `gt`gh`% lqm nshj` `ga {is`hgk' mhz
skvlsq vsl~hakz ` zoo`sx ln rm`q rk m`~k `jmhk~ka%
mlr qmk v`sqgkszmhv hz zhgb qkjmghpkz% zjm `z r`qks
r`qKs n{q{sKz hz ` v`sqgKszmhv cKqrKKg
z`coheeKs% rrn `ga bqT rmhjm `hoz ql
vslqKjq r`qKszmKaz jshqhj`e ql z`coheeKsz
lvKs`qhlgz ga z{vvex jm`hgz% ga ql
zqsKgbqmKg qmK sleK ln qmK vsh~`qK zKjqls
hg vslolqhgb qmK z{zq`hg`ceK o`g`bKoKgq
ln r`qKs sKzl{sjKz ga zm`shgb qmK
eKzzlgz eK`sgq'
0' 36:6 R`qks kzlsjkz Bslv' m`sqhgb Ls R`qks Nqsk4 Kjlglohjns`okrlsiz ql hgnlso akjhzhlg/o`ihgb -3668('
3' rrr'g'lsb,r`qksnlsehnkakj`ak,zj`sjhqx
:' RRN' Eh~hgb Ve`gkq kvlsq 366= -366=('
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8/8/2019 Water Futures Report 2010
5/406:VKNK4 RLGB LBKMK NL K{K RK N{{K
nllqvshgqhgb% ql hakgqhnx qmk zhbghj`gq r`qks hzzkz
hg qmkzk jlgqshkz% `ga qmk rlsi rk `sk alhgb rhqm
elj`e zq`ikmleaksz ql ak~kelv ` zm`ska `vvsl`jm ql
q`jiehgb qmko'
0'1 [zhgb ` mlehzqhj `ga slc{zq okqmlalelbx
mk R`qks Nqskz v`sqgkszmhv skehkz lg ` jek`s gaks/
zq`gahgb ln qmk hzzkz `ga jm`eekgbkz n`jka cx k`jm zkq
ln zq`ikmleaksz vlqkgqh`eex `q shzi'
g qmk skvlsqR`qks nllqvshgqhgb4 akgqhnxhgb `ga
`aaskzzhgb r`qks shziz hg qmk ~`e{k jm`hgvcehzmka hg3668% Cheeks `ga RRN zmlrka mlr qmhz qkjmghpk
m`a mhbmehbmqka ikx hzzkz nls qrl ln qmk jlov`gxz
lvks`qhlgz hg lqm nshj` `ga tkjm kvcehj' L~ks
qmk v`zq qrke~k olgqmz rk m`~k skgka `ga kqkgaka
ls qmhgihgb hg qmhz `sk`'
R`qks nllqvshgqhgb elliz `q k`jm kekokgq ln Cheeksz
~`ek jm`hg% nslo jslv vslajqhlg ql vslajq ahzqshc/
qhlg% ql mkev gakszq`ga qmk r`qks akvkgakgjhkz `ga
~egks`chehqhkz `ga hakgqhnx qmk ikx r`qks shziz nls qmk
czhgkzz% zsslgahgb jlooghqhkz `ga qmk kg~hslg/
okgq' sjh`eex% zq`sqhgb nslo qmk bslga v kg`cekz
z ql ak~kelv ` ojm olsk hg/akvqm gakszq`gahgb
ln qmk hzzkz `ga jlgzkpkgqex q`ik qmk nhszq zqkv hg
`aaskzzhgb qmko'
Cq `aaskzzhgb zm`ska r`qks shziz rlgq ck zle~ka
zhovex cx vslajhgb ` gocks ln r`qks nllqvshgq
zqahkz' Lqmks `jqh~hqhkz ql a`qk% ls ve`ggka% hgjeak
rlsizmlvz ql kgb`bk ikx elj`e zq`ikmleaksz hg lsaks
ql kgzsk qm`q rk m`~k nee gakszq`gahgb ln qmk
elj`e hzzkz `slga r`qks zj`sjhqx' Rk `sk gaks/
q`ihgb olsk akq`heka r`qkszmka `zzkzzokgqz ql
ake~k hgql qmk shziz hg elj`e sh~ks c`zhgz' ga rk `sk
cheahgb czhgkzz j`zkz nls Cheeks zczhah`shkz qljlgzhaks hg~kzqhgb hg ckqqks r`qks o`g`bkokgq rhqmhg
qmlzk c`zhgz' q ` belc`e ek~ke% rk `sk `cek ql hgnlso qmk
k~le~hgb akc`qk lg r`qks cx vsl~hahgb jek`s k`ovekz
ln qmk rlsi rk `sk alhgb -mkgjk qmk vcehj`qhlg ln qmhz
skvlsq(% rmhjm hg qsg o`x mkev ql hgnlso vlehjx ls
hgzvhsk `jqhlg nslo ls vkksz `ga lqmks zq`ikmleaksz'
0'; @ zm`ska jloohqokgq ga ~hzhlg
q hz k`sex a`xz hg qmk ak~kelvokgq ln qmhz v`sqgks/
zmhv% cq vslbskzz zl n`s m`z ckkg vlzhqh~k' mslbm
ls rlsi rk mlvk ql o`ik ` jlgqshcqhlg ql qmk ak~ke/
lvokgq ln qmk r`qks nllqvshgqhgb okqmlalelbx `ga
akolgzqs`qk hqz vs`jqhj`e `vvehj`qhlg hg mkevhgb ql
gakszq`ga r`qks/ske`qka shziz' lskl~ks% qmk R`qks
Nqskz v`sqgkszmhv `hoz ql vslolqk vsh~`qk zkjqls
r`qks zqkr`sazmhv% rmhjm blkz ckxlga zhovek r`qks
knnhjhkgjx ok`zskz `ga `aaskzzkz shziz qmslbmlq
qmk ~`ek jm`hg `ga vslolqkz ckqqks r`qks skzlsjk
o`g`bkokgq q qmk sh~ks c`zhg zj`ek'
Ckzhakz hgkgjhgb qmk r`qks akc`qk% jm`gbk rhee `ezl
ck ash~kg rhqmhg qmk qmskk v`sqgksz' RRN rhee o`ik
zk ln qmk ekzzlgz ek`sgq nls hqz rlsi lg vsh~`qk zkjqls
r`qks zqkr`sazmhv% hgjeahgb lqmks v`sqgkszmhvz9
BT rhee ahzzkohg`qk qmk hgnlso`qhlg `olgbzq hqz
r`qks o`g`bkokgq vsldkjqz hg ak~kelvhgb jlgqshkz9
`ga Cheeks rhee zk rm`q hq m`z ek`sgq nslo Vks%`gt`gh`% lqm nshj` `ga {is`hgk rhqmhg hqz zczha/
h`shkz hg lqmks jlgqshkz'
Rk `sk vsla ql ck rlsihgb qlbkqmks `ga mlvk qm`q qmk
hgzhbmq vsl~haka hg qmhz skvlsq rhee kgjls`bk lqmksz ql
q`ik `jqhlg ql skajk qmk vlqkgqh`e ln r`qks zj`sjhqx hg
qmk skbhlgz `ga jlgqshkz olzq `q shzi' Rmksk qmksk `sk
zm`ska lvvlsqghqhkz hg qmk z`ok r`qkszmkaz% rk rhee
ck ellihgb ql jlee`cls`qk rhqm lqmks v`sqgksz ql mkev
vslqkjq qmhz zm`ska skzlsjk'
R`qks hz gkhqmks jlgzhzqkgqex
rkee o`g`bka gls `vvslvsh`qkex
~`eka belc`eex' mhz m`z eka
ql ` jsjh`e zm`ska skzlsjk
ckjlohgb ` zm`ska shzi nls
bl~ksgokgqz% czhgkzzkz `ga
vlve`qhlgz `jslzz o`gx `sk`z
ln qmk rlsea' n qmhz zhq`qhlg
alkzgq jm`gbk qmkg jlghjqz
l~ks r`qks shbmqz `sk hgk~hq`cek'
Rk ckehk~k qm`q jlee`cls`qhlg
ckqrkkg czhgkzz% bl~ksgokgqz
`ga GBLz hz qmk lgex r`x ql
q`jiek qmhz'
Bs`m`o `ji`x% mhkn Kkjqh~k ln Cheeks
mk glqhlg ln zm`ska shzi hz
hgjsk`zhgbex zkkg `z ` jshqhj`e
kekokgq gaksvhgghgb skzvlgzkz
ql qmk belc`e r`qks jshzhz'
q zbbkzqz qm`q czhgkzzkz%
olqh~`qka cx kgehbmqkgka
zken/hgqkskzq% j`g jlgqshcqk
ql% `ga ckgkq nslo% jleekjqh~k
knnlsqz ql ckqqks o`g`bk r`qks
skzlsjkz `ga z`nkb`sa qmk
nskzmr`qks kjlzxzqkoz vlg
rmhjm rk `ee akvkga'
A`~ha Gzzc`o% mhkn Kkjqh~k ln RRN {
Ls v`sqgkszmhv nleelrz `g
hggl~`qh~k `ga v`sqhjhv`qlsx
`vvsl`jm ql zzq`hg`cex o`g`bk
r`qks skzlsjkz' mhz zmlea
kp`eex ckgkq qmk kgqhsk
vlve`qhlg% qmk kg~hslgokgq `ga
vslajqhlg vsljkzzkz' lskl~ks%
rk zqsh~k nls `g hovsl~ka
skzvlgzh~kgkzz ql `a`vq ql
jeho`qk jm`gbk' Rk zkk ls
slek hg n`jhehq`qhgb qmhz axg`ohj
ah`elbk `olgb `ee zq`ikmleaksz
jlgjksgka'
gask`z `gteks% Mk`a ln R`qks kjqhlg
BT / Bkzkeezjm`nq ns kjmghzjmk
Tz`ookg`sckhq BocM
-
8/8/2019 Water Futures Report 2010
6/4061
3'6
R`qks4 zm`ska shzizhg qmk 30zq jkgq{sx
3'0 [gakszq`gahgb qmk hzz{kz
{gehik nlzzhe nkez% r`qks m`z gl zczqhqqkz ls `eqks/
g`qh~kz' mk r`x qm`q r`qks hz jsskgqex o`g`bka hg
o`gx jlgqshkz `slga qmk rlsea hz zhovex gzzq`hg/
`cek% c`zka lg jsskgq vsldkjqhlgz `ga skzk`sjm'
Belc`e vlve`qhlg bslrqm hz zkq ql shzk nslo >'2 cheehlg
qla`x ql l~ks 8 cheehlg hg 36;61' mhz kv`gzhlg hg
vlve`qhlg rhee ve`jk ` mhbmks ako`ga lg skzlsjkz
`~`he`cek% v`sqhje`sex nls `bshjeqsk `ga qmk vsl~h/
zhlg ln nlla' sskgqex% hq hz kzqho`qka qm`q l~ks 26+
ln belc`e nskzm/r`qks rhqmas`r`ez `sk zka nls qmhz
vsvlzk' g zlok jlgqshkz qmhz j`g sk`jm 86+;'
nsqmks jlovehj`qhlg hz qm`q nskzmr`qks hz glq ahzqshc/
qka k~kgex `jslzz qmk belck ghgk jlgqshkz> `jjlgq
nls >6+ ln belc`e nskzmr`qks rmhek rhqmhg jlgqshkz
qmksk `sk lnqkg zhbghj`gq ~`sh`qhlgz hg skbhlg`e s`hg/
n`ee ek~kez'2 n `gxqmhgb% qmk hov`jq ln jeho`qk jm`gbk hz
ehikex ql hgjsk`zk clqm ~`sh`chehqx `ga gvskahjq`chehqx'
lsk qm`g lgk/zhqm ln qmk rlseaz vlve`qhlg eh~k hg
be`jhks ls zglrokeq/nka sh~ks c`zhgz `ga rhee ck `nnkjqka
cx qmk zk`zlg`e zmhnq hg zqsk`olr% `g hgjsk`zk hg qmk
s`qhl ln rhgqks ql `gg`e lrz% `ga vlzzhcex qmk skaj/
qhlg hg elr lrz j`zka cx akjsk`zka be`jhks kqkgq ls
zglr r`qks zqls`bk' q qmk z`ok qhok% zk`/ek~ke shzkz
`qqshcq`cek ql jeho`qk jm`gbk rhee kqkga `sk`z ln
z`ehghz`qhlg ln bslgar`qks `ga kzq`shkz% skzeqhgb hg
` akjsk`zk hg nskzmr`qks `~`he`chehqx nls mo`gz `ga
kjlzxzqkoz hg jl`zq`e `sk`z' koh/`sha `ga `sha `sk`z
nls k`ovek% `slga qmk kahqkss`gk`g% rkzqksg {
`ga zlqmksg nshj` `sk v`sqhje`sex kvlzka ql qmk
hov`jqz ln jeho`qk jm`gbk lg nskzmr`qks'= jjlsahgb ql
qmk {Gz Rlsea R`qks Ak~kelvokgq kvlsq8% `eolzq m`en
qmk rlseaz vlve`qhlg rhee eh~k hg `sk`z ln mhbm r`qks
zqskzz cx 36:6 `z ` skzeq ln jeho`qk jm`gbk' Ln jlszk%
` zmlsq`bk ln r`qks rhee `ezl m`~k ` zhbghj`gq hov`jq
lg qmk elj`e kjlelbx `ga chlah~kszhqx ln `g `sk`'
mk 36:6 R`qks kzlsjkz Bslv% nlsoka ql jlgqshcqk
gkr hgzhbmqz hgql qmk hzzk ln r`qks zj`sjhqx% `a~hzka
cx RRN `ga rhqm okocksz hgjeahgb Cheeks%
jhgzkx% qmk gqksg`qhlg`e Nhg`gjk lsvls`qhlg `ga
` jlgzlsqho ln czhgkzz v`sqgksz% jlgjeaka qm`q
jlovkqhgb ako`gaz nls zj`sjk r`qks skzlsjkz o`x
ek`a ql ` belc`e 16+ zmlsq`bk cx 36:606
'
mhz skzk`sjm vlhgqz ql ` zhbghnhj`gq hzzk hg qmk
jlohgb xk`sz' Mlrk~ks% rmhezq qmk vlqkgqh`e kjlglohj%
zljh`e `ga ak~kelvokgq`e knnkjqz `sk vslnlga% qmk
vlehqhj`e hov`jqz ln r`qks zj`sjhqx `sk clqm bs`a`e `ga
elj`e% zl bl~ksgokgq`e skzvlgzkz `sk lnqkg rk`i `ga
ns`bokgqka' RRN lnqkg akzjshckz r`qks zj`sjhqx `z `g
hg~hzhcek k~kgq'
mk vlqkgqh`e r`qks jshzhz eqho`qkex jlokz alrg ql
qmk gzzq`hg`cek o`g`bkokgq ln r`qks skzlsjkz hg `
s`vhaex jm`gbhgb rlsea% rmksk ako`ga hz hgjsk`zhgb%
zvvex hz akjsk`zhgb `ga e`ga zk hz jm`gbhgb' q hzalrg ql hgah~ha`e jlgzoksz `ga jlov`ghkz ql q`ik
skzvlgzhchehqx ql zk r`qks olsk zzq`hg`cex% `ga nls
bl~ksgokgqz ql o`g`bk r`qks skzlsjkz vvslvsh`qkex
rhqmhg sh~ks c`zhgz' mkg% `ga lgex qmkg% rhee zm`ska
r`qks shziz ck zhbghj`gqex akjsk`zka'
3'3 Skjlbghzhgb qmk zm`ska shziz
Nls o`gx czhgkzzkz% v`sqhje`sex qmlzk zjm z Cheeks
rml m`~k lvks`qhlgz jslzz qmk rlsea% hzzkz ln r`qks
zj`sjhqx `sk ckjlohgb hgjsk`zhgbex skek~`gq ql qmkhs
`jqh~hqhkz% kzvkjh`eex z r`qks zk qljmkz eolzq ee v`sqz
ln qmk ~`ek jm`hg% eckhq rhqm ~`sxhgb akbskkz ln hgqkgzhqx'
r`qKs hz ` n{ga`oKgq`e zm`sKa sKzl{sjK
nls jloo{ghqhKz% `bshj{eq{sK% c{zhgKzz
ga bl~KsgoKgq' a`o`bK ql KjlzxzqKoz
nslo qmK l~Ks `czqs`jqhlg ga vlee{qhlg
ln r`qKs sKzl{sjKz m`z n`s/sK`jmhgb
jlgzKp{KgjKz% qmK KnnKjqz ln rmhjm `sK
ahnnhj{eq ql sK~KszK' qmK zhq{`qhlg vlzKz
zm`sKa shziz ql c{zhgKzz% bl~KsgoKgq `ga
jh~he zljhKqx `ga jleeKjqh~K zle{qhlgz
rhee cK gKKaKa ql o`g`bK qmKo'
1' {G' Rlsea Vlve`qhlg Vslzvkjqz4 mk 366= k~hzhlg -3668(';' Rlsea Kjlglohj Nlso R`qks ghqh`qh~k' mk cccek hz jelzk ql cszqhgb
-3668('
>' Cs`the% zzh`% mhg`% `g`a`% galgkzh`% {% gah`% leloch` `gaqmk Akoljs`qhj kvcehj ln lgbl'
2' RCA' N`jqz `ga skgaz4 R`qks -~kszhlg 3( -3668('
= 'lgqshcqhlg ln Rlsihgb Bslv ql qmk Nlsqm zzkzokgq kvlsqln gqksbl~ksgokgq V`gke lg eho`qk m`gbk -3668('
8' {G' :sa {G Rlsea R qks Ak~kelvokgq kvlsq -3668('
06' 36:6 R`qks kzlsjkz Bslv' m`sqhgb ls R`qks Nqsk -3668('
-
8/8/2019 Water Futures Report 2010
7/406;RK4 MKA G MK 30 KG{
z r`qks zj`sjhqx ckjlokz olsk ~hzhcek qmkg zl alkz qmk
ek~ke ln shzi n`jka cx qmkzk czhgkzzkz' hziz o`x ske`qk
ql vmxzhj`e zmlsq`bkz ehohqhgb vslajqhlg9 jlovkqhqhlgnls skzlsjkz% rmhjm o`x ek`a ql hgjsk`zka jlzqz ls
ahnjeqhkz lcq`hghgb r`qks `z zq`ikmleaksz jlovkqk nls
shbmqz9 `ga hzzkz `slga r`qks p`ehqx hg `sk`z qm`q
`sk zcdkjq ql vmxzhj`e jm`gbk -nls k`ovek% hgjsk`zka
sg lnn nslo bslrhgb `bshjeqs`e `sk`z(' gjsk`zhgbex%
ekbhze`qhlg hz ve`xhgb ` olsk hovlsq`gq slek qll `z zlok
bl~ksgokgqz zkki ql `aaskzz qmhz hzzk qmslbm ekbhz/
e`qh~k ok`gz% zjm `z cx hovlzhgb r`qks `eelj`qhlgz%
bsk`qks q``qhlg `ga ~`shlz vshjhgb okjm`ghzoz'
ovlsq`gqex% qmksk hz ` zhbghj`gq zljh`e ahokgzhlg ql
qmk zk ln r`qks' looghqhkz skphsk r`qks ql neeqmkhs k~ksxa`x gkkaz rmkqmks qmhz hz nls alokzqhj
vsvlzkz ls% nls k`ovek% bslrhgb jslvz' g zlok
j`zkz% n`hesk ql `aaskzz vksjkvqhlgz qm`q r`qks zj`sjhqx
hz qmk skzeq ln czhgkzz `jqh~hqx j`g a`o`bk jlsvls`qk
skvq`qhlg `ga ske`qhlgzmhvz rhqm qmk elj`e jlooghqx
lg rmhjm hq o`x akvkga% nls k`ovek% nls qmkhs rlsiksz
ls nls s`r o`qksh`ez'
Czhgkzzkz% v`sqhje`sex qmlzk rhqm ` mhbm akvkgakgjk
lg r`qks% m`~k ` zhbghj`gq slek ql ve`x hg `aaskzzhgb
qmk r`qks zj`sjhqx jm`eekgbk' mkx j`g zk qmkhs
`vvskjh`qhlg ln shzi% qmkhs ek~ks`bk `ga qmkhs khzqhgb
ske`qhlgzmhvz rhqm bl~ksgokgq ql olchehzk v`sqgks/
zmhvz rhqmhg qmk vcehj zkjqls `ga jh~he zljhkqx ql o`ik
r`qks o`g`bkokgq olsk zzq`hg`cek nls qmk ckgknhq
ln `ee' Ckhgb `r`sk ln `ga gakszq`gahgb qmk r`qks
jm`eekgbkz qmkx n`jk `eelrz czhgkzzkz ql o`ik ckqqks
o`g`bkokgq akjhzhlgz `ga vsl~hakz qmk ve`qnlso ql
kgb`bk rhqm ` csl`aks zkq ln zq`ikmleaksz ql `aaskzz
hzzkz lqzhak qmkhs ahskjq zvmksk ln hgkgjk'
kjkgq akc`qkz m`~k nljzka lg qmk vlqkgqh`e slek
ln qmk vsh~`qk zkjqls `z r`qks zqkr`saz' mhz glqhlg
ln r`qks zqkr`sazmhv hovehkz qm`q jlov`ghkz% lq ln
kgehbmqkgka zken/hgqkskzq% gkka ql chea lg hovsl~k/okgqz ql hg/mlzk r`qks knjhkgjx `ga zq`sq ql kgb`bk
kqksg`e zq`ikmleaksz hg lsaks ql skajk czhgkzz shzi
nslo r`qks zj`sjhqx `ga vleeqhlg' g v`sqhje`s% qmk
r`qks zqkr`sazmhv v`s`ahbo hovehkz qm`q jlov`ghkz
zmlea kgb`bk rhqm zvvehksz -k'b' ln `bshjeqs`e
jloolahqhkz zjm `z c`sekx% o`htk ls zb`s j`gk( ql
zvvlsq hgjsk`zka r`qks knjhkgjx `q qmk n`so ek~ke' q
`ezl zbbkzqz qm`q jlov`ghkz zmlea kgb`bk ` csl`aks
s`gbk ln zq`ikmleaksz% hgjeahgb bl~ksgokgq% ql
vslolqk hovsl~ka r`qks knjhkgjx `q qmk sh~ks c`zhg
zj`ek `z ` ok`gz ln kgzshgb qm`q `gx r`qks z`~hgbz
rhqmhg qmk czhgkzz ls qmk zvvex jm`hg jlgqshcqk ql`phnks `ga sh~ks skjm`sbk -`ga mkgjk ql skajqhlgz hg
zm`ska r`qks zj`sjhqx shziz('
3': Z@COheeksz vvsl`jm ql r`qks o`g`bkokgq
R`qks zj`sjhqx skvskzkgqz ` vlqkgqh`eex zhbghj`gq shzi
ql v`sqz ln Cheeksz czhgkzz% `z rkee `z ql zlok lnqmk jlooghqhkz hg rmhjm hq lvks`qkz'
z qmkzk hzzkz jslzz jlooghqx `ga g`qhlg`e clga/
`shkz `ga hg~le~k hgqksakvkgakgq n`jqlsz qm`q j`g
~`sx nslo jlgqsx ql jlgqsx `ga skbhlg ql skbhlg% hq
nleelrz qm`q qmkx j`gglq zhovex ck o`g`bka rhqmhg qmk
jlggkz ln Cheeksz lrg lvks`qhlgz' z ` skzeq% qmk
czhgkzz m`z hg~kzqka zhbghj`gq o`g`bkokgq qhok `q
clqm elj`e `ga bslv ek~ke ql gakszq`ga qmk jm`eekgbkz
ln r`qks zj`sjhqx `ga p`ehqx `ga rm`q qmkx ohbmq
ok`g nls qmk czhgkzz'
`ihgb olsk ckks cq zhgb ekzz r`qks hz lgk ln
Cheeksz belc`e nljz `sk`z nls zzq`hg`cek ak~ke/
lvokgq% `ga lgk ln hqz qkg zzq`hg`cek ak~kelvokgq
vshlshqhkz00' Cheeksz `vvsl`jm ql r`qks o`g`bk/
okgq hgjeakz ` zqslgb q`sbkq glq lgex ql hovsl~k
hqz lrg r`qks knnhjhkgjx% cq `ezl ql vslqkjq qmk
r`qkszmkaz lg rmhjm qmk czhgkzz% n`soksz `ga elj`e
jlooghqhkz akvkga'
Cheeks hz ` nlgahgb zhbg`qlsx ln qmk {G KL
R`qks `ga`qk% `g hghqh`qh~k ql mkev jlov`ghkz hg qmk
ak~kelvokgq% hovekokgq`qhlg `ga ahzjelzsk ln r`qks
zzq`hg`chehqx vlehjhkz `ga vs`jqhjkz' q hz `ezl ` okocksln qmk Rlsea Kjlglohj Nlso R`qks Vsldkjq `ga qmk
R`qks Nllqvshgqhgb Gkqrlsi'
Cheeks m`z ak~kelvka ` r`qks zqs`qkbx c`zka
lg qmk ;z -vlqkjq% kajk% kzk% kjxjek `ga
kahzqshcqk(% ` jlovskmkgzh~k% shzi/c`zka `vvsl`jm ql
o`g`bhgb r`qks hg hqz czhgkzz `ga hg qmk ~`ek jm`hg'
mhz olake vsl~hakz ` jlgzhzqkgq `vvsl`jm% skb`saekzz
ln qmk elj`e hzzkz `ga jhsjozq`gjkz n`jhgb qmkhs czh/
gkzzkz `slga qmk rlsea'
g 3668,06% Cheeks zka 23%366 oheehlg ehqskz ln
r`qks hg hqz lrg vslajqhlg vsljkzzkz ql vslajk ckks'mk czhgkzz m`z zkq ` ako`gahgb q`sbkq ql skajk
r`qks zk vks ehqsk ln ckks cx 3;+ ckqrkkg 366= `ga
360;' mhz kp`qkz ql `g `~ks`bk r`qks jlgzovqhlg
ln :'; ehqskz vks ehqsk ln ckks `ga qmk e`qkzq bskz nls
qmk e`zq g`gjh`e xk`s zmlrka qm`q qmk `~ks`bk bsk
r`z 1': ehqskz% ` 1+ hovsl~kokgq lg qmk vsk~hlz
03 olgqmz'
mk czhgkzz qhehzkz ` r`qkszmka o`vvhgb qlle rmhjm
zkz p`gqhq`qh~k belc`e a`q` ql k~`e`qk qmk elgb/qkso
r`qks `~`he`chehqx nls k`jm ln hqz lvks`qhlgz' Nslo qmhz
a`q`% qmk czhgkzz j`g `zzkzz qmk shziz `zzljh`qka rhqm
zvkjhnhj lvks`qhlgz ql nljz lg qmk `sk`z ln bsk`qkzq
gkka% `ga ak~kelv elj`e% q`helska zqs`qkbhkz ql ak`e rhqm
L~ks qmk e`zq qrke~k olgqmz Cheeks
m`z hovsl~ka hqz lrg r`qks knjhkgjx
cx 1+ vks ehqsk ln ckks vslajka'
00' Nls olsk hgnlso`qhlg zkk rrr'z`coheeks'jlo,zzq`hg`cekak~kelvokgq
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8/406>
`gx hzzkz hakgqhka' hgjk hqz hgqslajqhlg hg 3662%
Cheeks m`z k~`e`qka `ee ln hqz lvks`qhlgz hg
qmhz r`x'
Nleelrhgb qmhz `g`exzhz% akq`heka r`qks nllqvshgqz m`~k
ckkg gaksq`ikg hg lqm nshj`% qmk tkjm kvcehj%
Vks% `gt`gh` `ga {is`hgk ql bkq ` ckqqks gaks/
zq`gahgb ln qmk ikx r`qks hzzkz k`jm lvks`qhlg n`jkz'
mk ak~kelvokgq ln qmk R`qks Nqskz V`sqgkszmhv
rhqm RRN `ga BT m`z ckkg ` o`dls kg`cehgb n`jqls hg
`eelrhgb qmhz ql m`vvkg'
Lqmks Cheeks zczhah`shkz `ga dlhgq ~kgqskz `slga
qmk rlsea m`~k kqkgzh~k r`qkszmka vslbs`ookz
hg `aahqhlg ql qmlzk vskzkgqka hg qmhz skvlsq' mkzk
hgjeak `phnks skjm`sbk vsldkjqz hg gah` `ga rlsihgb
rhqm c`sekx n`soksz ql hovsl~k hsshb`qhlg knnhjhkgjx
hg qmk {ghqka q`qkz' Nls nsqmks hgnlso`qhlg lg qmkzk
rhaks `jqh~hqhkz zkk rrr'z`coheeks'jlo'
3'1 RRNz zqs`qkbx ql jlgzks~k `ga vslqkjq
r`qks skzl{sjkz
R`qks vskzkgqz sk`e `ga vsk~`ekgq lczq`jekz nls jlov`/
ghkz glr `ga hg qmk gk`s nqsk% `ga jlov`gx shzi `q
` sh~ks c`zhg ek~ke hovehkz qm`q lqmks zksz `sk ehikex
ql ck `q shzi qll g`okex kjlzxzqkoz% lqmks czh/
gkzzkz% jlooghqhkz `ga bl~ksgokgqz' mhz hz qmk
jlgjkvq ln zm`ska r`qks shzi' akgqhnxhgb bl~ksgokgq
`ga jlov`gx zm`ska shzi kg`cekz qmkzk v`sqhkz ql ga
jloolg bslga hg qmk sbkgq gkka ql o`g`bk r`qks
knnkjqh~kex% kphq`cex `ga zzq`hg`cex'
RRNz R`qks qkr`sazmhv hzhlg hz ln ` vsh~`qk zkjqls
neex kgb`bka hg knnlsqz ql zkjsk r`qks nls vklvek `ga
g`qsk' mk nljz hz lg bkqqhgb jlov`ghkz ql skjlbghzk
`ga q`ik skzvlgzhchehqx nls qmkhs slek hg o`g`bhgb nskzm/
r`qks rhqmhg qmk rhaks r`qks jxjek% `ga hgqkbs`qhgb qmk
vshgjhvekz ln blla zqkr`sazmhv hgql qmkhs jlsk czhgkzz
`jqh~hqhkz' mkx rhee `jmhk~k qmhz cx q`ihgb skzvlgzh/
chehqx nls skajhgb qmk hov`jqz ln qmkhs lrg r`qks zk%
q`ihgb ~legq`sx `jqhlg ql jlgzks~k nskzmr`qks kjlzxz/
qkoz% `ga v`sqhjhv`qhgb hg jlgzqsjqh~k vcehj vlehjx
ah`elbk ql hovsl~k r`qks skzlsjk o`g`bkokgq'
R`qks qkr`sazmhv hz `clq bhahgb ikx jlov`ghkz%clqm r`qks zksz `ga hg~kzqlsz% lg ` dlsgkx qlr`sa
ckqqks sh~ks c`zhg bl~ksg`gjk% rmksk r`qks hz `eelj`qka
`vvslvsh`qkex q`ihgb `ee zq`ikmleaksz hgql `jjlgq'
lov`ghkz ozq szq nljz lg mlr qmk r`qks nllqvshgqz
ln qmkhs lvks`qhlgz `ga zvvex jm`hgz j`g hovsl~k `ga
hakgqhnx qmlzk qm`q `sk ~egks`cek ql shzi cq jsjh`eex
`ezl gakszq`ga qmk jlgqkq ln rmksk qmkx ahskjqex
`ga hgahskjqex lvks`qk' {gakszq`gahgb hov`jqz rhee ck
hovlsq`gq9 `elgb rhqm skajhgb jlzqz `ga zlok ahskjq
r`qks shzi9 qmhz rhee mkev hgzsk qmkhs zljh`e ehjkgjk ql
lvks`qk `ga bh~k qmko jskahchehqx ql ckbhg ql `vvsl`jm
lqmks r`qks zksz' Cq lgex cx ehgihgb r`qks akvkg/akgjx hg zljh`e `ga kg~hslgokgq`e jlgqkqz rhee RRN
ck `cek ql vlzhqh~kex `ehbg jlsvls`qk `bkga`z rhqm
vslqkjqhgb sh~ks c`zhgz' q hz qmslbm oeqh/zq`ikmleaks
`jqhlgz `ga kgb`bhgb rhqm bl~ksghgb clahkz qm`q RRN
j`g mkev hovsl~k vlehjx `ga hgzqhqqhlg`e j`v`jhqx% `ga
eqho`qkex% skajk zm`ska r`qks shziz'
mk R`qks Nqskz V`sqgkszmhv hz q`ihgb `g hggl~`qh~k
`vvsl`jm ql qsx ql ckqqks gakszq`ga qmk r`qks/ske`qka
shziz n`jhgb Cheeks zczhah`shkz% `ga qmkg o`ik
qmk czhgkzz j`zk nls `g `vvslvsh`qk r`qks zqkr`sa/zmhv skzvlgzk ql ohqhb`qk qmkzk shziz `q qmk elj`e ek~ke'
RRN cshgbz ql qmk v`sqgkszmhv hqz qmlbmq ek`akszmhv
lg zm`ska r`qks shzi% ` rk`eqm ln kvkshkgjk hg h~ks
C`zhg `g`bkokgq `ga elj`e j`v`jhqx ql mkev akeh~ks
qmk v`sqgkszmhv ckgkqz hg k`jm ln qmk nls jlgqshkz'
3'; BQT4 okkqhgb vlehjx `ga ak~kelvokgq bl`ez
`jiehgb hzzkz ln r`qks zj`sjhqx% `z rkee `z `jjkzz
ql r`qks `ga z`ghq`qhlg% hz ` ikx v`sq ln qmk Nkaks`e
Bkso`g Bl~ksgokgqz ak~kelvokgq `bkga`' z zjm%
Bkso`gx ve`xz ` ek`ahgb slek hg vslolqhgb r`qks nls
vk`jk qmslbm hqz zvvlsq ln qs`gz/clga`sx jl/lvks/`qhlg% v`sqhje`sex hg lqm/K`zq Kslvk% nshj` `ga
kgqs`e zh`' Bkso`gx `ezl zqslgbex vslolqkz qmk
skjlbghqhlg ln `jjkzz ql r`qks `ga z`ghq`qhlg qmslbm
hqz kgb`bkokgq rhqm qmk {G Mo`g hbmqz lgjhe'
Bkso`gx hz lgk ln qmk rlseaz e`sbkzq alglsz hg r`qks
`ga z`ghq`qhlg `ga qmk e`sbkzq algls hg nshj`'
BT rlsiz `z qmk hovekokgqhgb lsb`ghz`qhlg nls qkjm/
ghj`e jl/lvks`qhlg lg ckm`en ln qmk Nkaks`e Bkso`g
hghzqsx ln Kjlglohj l/lvks`qhlg `ga Ak~kelvokgq'
g qmk r`qks zkjqls% BT vsl~hakz `a~hjk ql bl~ksg/
okgqz hg akzhbghgb qmkhs r`qks vlehjx `ga bl~ksg`gjkns`okrlsi ql zvvlsq r`qks zkjqls sknlsoz% hgjeahgb
skbe`qhlg' BT `ezl vsl~hakz `a~hjk lg zzq`hg/
`cek r`qks zvvex `ga z`ghq`qhlg% qmk ak~kelvokgq
ln knnkjqh~k qllez `ga vsljkzzkz nls r`qks skzlsjkz
o`g`bkokgq% `z rkee `z `a`vq`qhlg ln `ga ohqhb`qhlg ql
jeho`qk jm`gbk `ga hqz hov`jqz'
BT m`z csl`a kvkshkgjk hg rlsihgb rhqm vsh~`qk
zkjqls jlov`ghkz% v`sqhje`sex qmlzk rlsihgb ahskjqex
hg qmk r`qks zkjqls cq hgjsk`zhgbex qmlzk lqzhak qmk
zkjqls% zjm `z Cheeks'
mslbm qmk R`qks Nqskz V`sqgkszmhv% BT `hozql zmlrj`zk qmk hovlsq`gjk ln zzq`hg`cek r`qks
o`g`bkokgq nls czhgkzzkz `ga ql jlooghj`qk qmhz
ek`sghgb `ga hgzhbmq ql zvvlsq nsqmks qmhgihgb `ga
ak~kelvokgq hg qmhz kea' mslbm v`sqhjhv`qhlg hg qmhz
hggl~`qh~k v`sqgkszmhv% BT zvvlsqz qmk vslolqhlg ln
qmk r`qks nllqvshgqhgb okqmlalelbx `ga hqz bslrhgb
zhbghj`gjk hg qmk jlgqkq ln zzq`hg`cek r`qks z`bk'
Nsqmksolsk% qmk v`sqgkszmhv mhbmehbmqz qmk hovls/
q`gjk ln elj`e v`sqgkszmhvz nls hovsl~ka zzq`hg`cek
r`qkszmka o`g`bkokgq `vvsl`jmkz% kzvkjh`eex hg r`qks
zqskzzka skbhlgz' g qmhz jlgqkq% BT `jqz `z qkjmghj`e
`a~hzls `ga n`jhehq`qls nls oeqh/zq`ikmleaks ah`elbkzqm`q kg`cek jleekjqh~k `jqhlg nls zzq`hg`cek r`qks
o`g`bkokgq q elj`e ek~ke'
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8/8/2019 Water Futures Report 2010
9/4062
NB[S 04Z@COEES ;S R@QS OLAE
mk ; Sz kg`cek
k`jm ln Cheeksz
lvks`qhlgz `slga qmk
rlsea ql nljz lg zvkjhj
hzzkz vzqsk`o%
alrgzqsk`o `ga rhqmhgls lvks`qhlgz
RK4 MKA G MK 30 KG{
KJLELBX
VSLQKJQgkgjk n`soksz ql kgzsk skzvlgzhcek r`qkszk `ga gakszq`ga qmk r`qkszmkaz rhqmhg rmhjmrk lvks`qk cskrkshkz `ga clqqehgb ve`gqz' Rmksk`vvslvsh`qk skvekghzm r`qks skzlsjkz qmslbms`hgr`qks m`s~kzqhgb `ga bslgar`qks skjm`sbk'
CSKRKSX
SKA[JK SK/[ZK SKJXJEK
Ska{jk4 Kovelx gkr vsljkzzkz `ga jm`gbkckm`~hls ql skajk r`qks jlgzovqhlg hgls ve`gqz rmhezq `jmhk~hgb qmk z`ok mhbmp`ehqx ln vslajq'
Sk/{zk4 leekjq r`zqk r`qks zqsk`oz rhqmhgn`jhehqhkz `ga sk/zk `vvslvsh`qkex'
Skjxjek4 g~kzqhb`qk `ga kovelx gkrqkjmglelbhkz ql skjxjek e`qks nls `vvslvsh`qkzk rhqmhg qmk ve`gq'
JLOO[GHQX
Skahzqshc{qk4 Vsl~hak elj`e jlooghqhkzrhqm jek`g r`qks qmslbm jlooghqxhg~kzqokgq vslbs`ookz `ga qsk`q r`zqkr`qks zl hq j`g ck zka nls hsshb`qhlg lslqmks vsvlzkz'
SKAHZQSHC[QK
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10/406=
:'6
Jleekjqh~k zle{qhlgz4qmk R`qks N{q{skzV`sqgkszmhvqmhz v`sqgKszmhv rhee z{jjKKa hn hq hz `ceK
ql zzKzz `ga sKa{jK zm`sKa r`qKs shziz
cx zqsKgbqmKghgb r`qKs zqKr`sazmhv
ga bl~Ksg`gjK hg zvKjhnhj r`qKszmKaz
hg qmK nl{s nlj{z jl{gqshKz4 zl{qm `nshj`%
q`gT`gh`% {is`hgK ga vKs{'
:'0 @ mhzqlsx ln jlee`cls`qhlg lg r`qks hzz{kz
Knnlsqz `q o`g`bhgb r`qks skzlsjkz ql jlgqks qmk
vskzzskz ln r`qks zj`sjhqx `ga skjlgjhek jlghjqhgb
ako`gaz m`~k okq rhqm ske`qh~kex ehqqek zjjkzz' Nls
o`gx bl~ksgokgqz% qmksk sko`hgz ` skejq`gjk qlkek~`qk r`qks o`g`bkokgq ql ` vshlshqx khqmks ckj`zk
qmk hzzkz `vvk`s qll hgqs`jq`cek% ckj`zk qmksk hz `
ckehkn qm`q% zlokmlr% znjhkgq p`gqhqhkz ln r`qks rhee
`er`xz ck `~`he`cek% `ga,ls ckj`zk r`qks o`g`bkokgq
alkz glq s`gi z mhbmex z lqmks ak~kelvokgq bl`ez'
Mlrk~ks% ` gocks ln hgqksg`qhlg`e bl~ksgokgq`e
lsb`ghz`qhlgz% GBLz `ga czhgkzzkz khqmks hgah/
~ha`eex ls jleekjqh~kex m`~k ckbg ql mhbmehbmq
qmk hovlsq`gjk ln hakgqhnxhgb qmkzk jm`eekgbkz `ga
mlr qmkx ohbmq ck `aaskzzka' Nls k`ovek% qmk {G
Belc`e lov`jqz KL R`qks `ga`qk `ga qmk Rlsea
Kjlglohj Nlso m`~k mkevka ql j`q`exzk akc`qk rmhek
lsb`ghz`qhlgz zjm `z qmk R`qks Nllqvshgq Gkqrlsi
-RNG( `ga qmk eeh`gjk nls R`qks qkr`sazmhv -R(
m`~k ckkg kzq`cehzmka ql `zzkzz qmk zj`ek ln qmk vslc/
ekoz `ga zkq zq`ga`saz `slga r`qks zk' Cheeks%
RRN `ga BT `sk `ee `jqh~kex hg~le~ka hg olzq% hn glq
`ee% ln qmkzk hghqh`qh~kz'
gqksg`qhlg`e hghqh`qh~kz m`~k ve`xka `g hovlsq`gq slek
hg kzq`cehzmhgb ` olokgqo ql kgjls`bk lsb`ghz`/
qhlgz% v`sqhje`sex jlov`ghkz% ql `aaskzz qmkhs r`qks
shziz' Mlrk~ks% qmksk `sk nkr hghqh`qh~kz gaksr`x ql
gakszq`ga qmkzk hzzkz `q ` elj`e ek~ke hg `sk`z ln mhbmshzi `ga ql vq hg ve`jk knnkjqh~k ve`gz ql `aaskzz qmko'
L~ks skjkgq xk`sz% Cheeks% RRN `ga lqmksz m`~k
rlsika qlbkqmks ql qsx `ga nhee qmhz b`v' mk qrl
lsb`ghz`qhlgz jlgajqka akq`heka vsldkjqz hg leloch`%
Mlgas`z `ga Ke `e~`als% qsxhgb ql `aaskzz gzzq`hg/
`cek `bshjeqs`e vs`jqhjkz ln vzqsk`o n`soksz j`zhgb
r`qks p`ehqx vslcekoz% `ga akq`heka r`qks nllqvshgqhgb
zqahkz hg lqm nshj` `ga tkjm kvcehj'
mk e`qqks rlsi skzeqka hg qmk vcehj`qhlg ln ` skvlsq03
e`gjmka `q Rlsea R`qks Rkki hg kvqkocks 3668%
rmhjm zmlrka mlr `g gakszq`gahgb ln qmk zvkjhnhj
`ga elj`e r`qks hzzkz n`jhgb `g `sk` j`g ck qs`gze`qka
qmslbm rlsihgb hg v`sqgkszmhvz rhqm elj`e zq`ik/
mleaksz hgql q`gbhcek `jqhlgz lg qmk bslga'
:'3 R`qks N{q{skz4 ` 30zq jkgq{sx v`sqgkszmhv
Cheahgb lg qmk zjjkzz ln qmhz jlee`cls`qhlg `ga
skjlbghzhgb ` zm`ska ~hzhlg ln qmk ckgkqz qm`q jlea
ck `jmhk~ka cx nlso`ehzhgb qmhz jlee`cls`qhlg% qmk
R`qks Nqskz belc`e v`sqgkszmhv r`z kzq`cehzmka hg
Gl~kocks 3668 qlbkqmks rhqm BT'
mk V`sqgkszmhv `hoz ql qhehzk hggl~`qh~k r`qks
o`g`bkokgq ql4
K`ohgk `ee `zvkjqz ln qmk Cheeks zvvex jm`hg%
c`zka lg hgzhbmqz hgql clqm czhgkzz `ga jlgzks~`/
qhlg shziz% ga hakgqhnxhgb shzi mlqzvlqz
Akeh~ks ok`zs`cek jlgzks~`qhlg hov`jqz qmslbm
hovsl~ka vlehjx nls% `ga o`g`bkokgq ln% nskzmr`qks
kjlzxzqkoz
m`sk ckzq vs`jqhjk ckqrkkg Cheeks lvks`qhlgz
`slga qmk rlsea ql vsl~hak qkjmghj`e zvvlsq lg
jloolg hzzkz `ga kg`cek iglrekabk kjm`gbk
m`sk ekzzlgz rhqm lqmks zq`ikmleaksz `q qmk belc`e
ek~ke rhqm ` ~hkr ql vslolqhgb ckqqks o`g`bkokgq ln
r`qks `jslzz qmk rlsea
Nls Cheeks% r`qks hz ` ~hq`e skzlsjk nls qmk cskrhgb
vsljkzz' R`qks zj`sjhqx vskzkgqz ` zkshkz ln shziz ql
03' R`qks nllqvshgqhgb4 akgqhnxhgb `ga `aaskzzhgb r`qks shziz hg qmk~`ek jm`hg -3668('
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8/8/2019 Water Futures Report 2010
11/4068LEEKK LE{LG4 MK RK N{{K VGKMV
qmk czhgkzz% ql elj`e jlooghqhkz `ga ql kjlzxzqkoz'
Rlsihgb hg v`sqgkszmhv `eelrz `jjkzz ql qmk iglre/
kabk `ga hgzhbmq ln v`sqgksz rlsihgb lg qmk bslga
hg `sk`z olzq `q shzi' mk v`sqgksz j`g `ezl n`jhehq`qk
Cheeksz kgb`bkokgq rhqm elj`e jlooghqx/c`zka
`ga bl~ksgokgq zq`ikmleaksz' g qsg qmhz rhee
vsl~hak ` ojm akkvks gakszq`gahgb ln qmk czhgkzz
shziz `shzhgb nslo qmk hgjsk`zhgb ako`gaz ve`jka lg
qmhz ~hq`e g`qs`e skzlsjk `ga% jsjh`eex% mlr qmkx
ohbmq ck `aaskzzka' vkjhj`eex% Cheeks rhee b`hg
` ojm jek`sks `vvskjh`qhlg ln qmk elgb/qkso `~`he/
`chehqx% p`ehqx `ga jlzq ln r`qks hg hqz lvks`qhlgz `gazvvex jm`hgz'
RRN r`gqz ql kgzsk qm`q r`qks skzlsjkz `ga kjlzxz/
qkoz `qq`jmka ql qmko `sk vslqkjqka `ga jlgzks~ka%
`ga ql nhga r`xz hg rmhjm jlov`ghkz j`g ckgknhq hg
ol~hgb nslo czhgkzz olakez qm`q `sk kg~hslgokgq`eex
gzlga ql `vvsl`jmkz qm`q `jqh~kex vslolqk zzq`hg/
`chehqx' Cheeks hz `esk`ax lg qmhz dlsgkx rhqm
`ochqhlz q`sbkqz hg ve`jk ql hovsl~k hqz r`qks knnh/
jhkgjx' RRN hz `cek ql m`sgkzz qmk zj`ek `ga skzlsjkz
ln qmk v`sqgkszmhv ql o`ik ` q`gbhcek jlgqshcqhlg ql
okkqhgb hqz jlgzks~`qhlg `hoz% rmhezq zhgb qmk ~lhjk ln
qmk V`sqgkszmhv ql hgnlso qmk r`qks akc`qk `ga hgnlso
vcehj vlehjx'
BT skjlbghzkz qmk jlgqshcqhlg r`qks o`ikz hg ak~ke/
lvhgb elj`e kjlglohkz `ga jlooghqhkz' g rlsihgb hg
v`sqgkszmhv rhqm Cheeks `ga RRN hq hz okkqhgb hqz
vcehj/vlehjx lcdkjqh~kz `z qmk ak~kelvokgq `bkgjx ln
qmk Bkso`g bl~ksgokgq'
mslbm qmhz `ss`gbkokgq k`jm v`sqgks hz `cek ql
m`sgkzz qmk zj`ek `ga kvksqhzk ln `ee v`sqhkz ql akeh~ks
` ojm bsk`qks ahnnkskgjk qm`g hn k`jm v`sqx rlsika
`elgk ql `jmhk~k ` zkjsk r`qks nqsk'
:': Rm`q hz qmk V`sqgkszmhv alhgb4 BLBS@V LSR LN LVS@QLZ
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-
8/8/2019 Water Futures Report 2010
23/40
@S@B CSRSX R@QS NNX
>'; ehqskzR`qks {zka
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-
8/8/2019 Water Futures Report 2010
24/4033333333
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-
8/8/2019 Water Futures Report 2010
25/403:K {AK GTG
ZQS@QB SZIZ AQNA
GKGB AKGA NL RK NL
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qmk zkrks`bk gkqrlsi' Nga`okgq`eex% qmksk hz
` skphskokgq nls o`dls hg~kzqokgq cx elj`e bl~ksg/
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-
8/8/2019 Water Futures Report 2010
26/4031313131
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8/8/2019 Water Futures Report 2010
27/40
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8/8/2019 Water Futures Report 2010
28/403>3>3>3>
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-
8/8/2019 Water Futures Report 2010
30/403=
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-
8/8/2019 Water Futures Report 2010
31/40
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-
8/8/2019 Water Futures Report 2010
32/40:6:6:6:6
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-
8/8/2019 Water Futures Report 2010
34/40
>'6
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:3:3:3
-
8/8/2019 Water Futures Report 2010
35/40::EKLG GA VELG
NHB[SK 84 GKQ R@QKS NLLQVSHGQ VKS @GG[O VKS EHQSK LN CKKS
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0=6
-
8/8/2019 Water Futures Report 2010
36/40:1
>'3 Rm`q alkz qmhz ok`g