Sure, but privately owned water and all the problems you describe existed long before these contracts came on the market and I don't see how futures contracts m

Sure, but privately owned water and all the problems you describe existed long before these contracts came on the market and I don't see how futures contracts make them any worse. In fact futures contracts could in theory even take away a little of the power they have since, in effect, they won't be able to raise water prices on you over night, but you can have a 3-6 month warning that a price rise is coming and can plan accordingly.