Monday, January 7, 2008

Climate change makes water the new oil

Water has long been considered a right in the UK. But with the onslaught of climate change and shifting demographics, its value is changing. Natural disasters are no longer things that happen elsewhere in the world as every nation's climate hangs in the balance. At the same time, consumption is increasing at an exponential rate.

Philip Green, chief executive of United Utilities, one of Britain's largest water companies with a market value of £6.5bn, says: "Water is to the global agenda [today] what oil has been for the last few decades."