Australia to import food? (letter)by Arnold JagoNews Weekly
, May 2, 2009
Many people worry about US corporation, Summit Global Management, having already bought up $20 million worth of Australia's water.
Summit's website says water is "undervalued compared with its economic worth" and that "hydro-commerce presents a very compelling investment theme".
Indeed. Water represents the perfect way to hold farmers, and anybody hoping to eat what farmers produce, to ransom - especially in hot weather.
With the federal government about to take 3.5 million megalitres out of farm production for "environmental flows", Australia will soon be importing more food than it exports.
This may help Labor retain Greens Party preferences, but will also lead to Australia becoming even more dependent on China, from whom we are already borrowing $500 million a week.Arnold Jago,