Water Is The New Oil

Former corporate raider and oil man T. Boone Pickens believes that the era of fossil fuels is over. Taking oil’s place as commodity of choice? Water. He theorizes that as urban populations increase and climate change makes some regions more prone to drought, water will become scarce and people will pay dearly for it. Pickens owns a 68,000 acre ranch in the Texas panhandle that sits on a huge underground aquifer, and he’s steadily buying more property to increase his water holdings (he currently owns more water than any other individual in the US). His master plan is to build a 250 mile pipeline from his ranch to supply over 65 billion gallons of water a year to Dallas.

BusinessWeek: “There Will Be Water”