THE NEW LIQUID INVESTMENT: WATER
A new exchange-traded fund (ETF) began trading on the TSX Monday that targets the most valuable but often overlooked liquid investment of them all: water.

Unless you accept that water is a basic human right, you are bound to appreciate this initiative by the private sector to gain more control over water and sell it to the highest bidder for a maximum profit.

Governments in Canada at all levels, have been afraid to seriously tackle ANY infrastructure issues, because it (pipes in the ground) isn't politically sexy and doesn't fit into a three or 4 year mandate. And most of us have been content to let government get away with this.

Private ownership in any form, removes accountability from public oversight and control.

All of us should view this development with alarm, especially as we review the situation with water here in the Comox Valley. Closer to home, Union Bay needs considerable infrastructure upgrade financing. The local water board has steadfastly refused to categorically support long-term public ownership of water ˆ leaving one to assume that they look favourably on private ownership and involvement of our water system.

A few years ago, it was estimated world-wide that $43 billion was being spent annually by private water firms, like Coca-Cola. About $3 billion on public investment in water infrastructure.

And the provincial and federal governments (of all political stripes) have refused to adequately support infrastructure projects such as water upgrades. The province, for example, is quick to set standards, but slow to provide financial assistance.

I urge everyone to read this article and contact elected officials at all levels, urging a massive and immediate program of infrastructure financing. It is time for political leadership, and time for us to start paying a fair share of the costs of keeping water public.

Pass this along to others who equally concerned about public ownership of water.

Cliff Boldt
Union Bay