It’s unclear to seasoned observers whether the speculators behind Cadiz Inc, a company pushing an outlandish plan to tap desert groundwater for Southern California cities, plan to go for actual water, or are content to capitalize on the stock market on the sheer prospect of mining it. Cadiz founder Keith Brackpool likes to play all the angles.
“One key component added to the bill is exchange betting,” reports the Weekly. “This is a type of betting that allows players to essentially bet against a horse, or bet that a horse will finish in a particular spot in a race, or take innumerable other possible positions. Unlike traditional betting, where the track provides odds on particular horses, …
… the more it remains the same. At a meeting in Ontario, CA, today of the Association of Ground Water Agencies, the speculator Cadiz, Inc will present a privately-commissioned study showing that the Mojave aquifer it proposes to pump can yield 50,000 acre feet of water a year, or enough for 400,000 people.
Brackpool, a horse-racing aficionado and country club owner, is better known for pursuit of a controversial groundwater project in the Mojave, which was rejected by the Metropolitan Water District of Southern California in 2002 as economically and environmentally unfeasible.
Since then, Brackpool has been pursuing other backers for his groundwater pumping operation in the Cadiz basin in San Bernardino County. On June 5th, 2009, Brackpool’s company, Cadiz Inc, released an endorsement by Governor Schwarzenegger for the project.
FIRST, thanks to Aquafornia, the news feed of the Water Education Foundation, for carrying today’s guest commentary from Cadiz Inc General Counsel Scott Slater, and to Mr Slater for taking the time to address questions raised here and in other publications, including the Los Angeles Times, WaterWired and Aguanomics.keep looking »