Inside Climate News discusses how Western Colorado Water Purchases Stir Up Worries About The Future Of Farming. How Investors Are Banking on the West’s Water Scarcity.
Lopez’s recent sale is the continuation of a trend that has made some in the agricultural communities west of Grand Junction nervous; has created a buzz among water managers; and has led state lawmakers to pass a bill looking at strengthening Colorado’s anti-water-speculation law.
WAM (Water Asset Management, a New York City-based hedge fund) is buying irrigated land as an investment in the future potential value of the water. Although the company isn’t doing anything illegal, its actions have rekindled deep-seated and long-held fears about water in the West—that it could hasten the death of agricultural communities’ way of life and create an unregulated market for water that would drive up prices and drive out family farms.