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Further proof of the blind insanity of capitalism. They are basically shipping water across the ocean from one desert to another. "The company announced in Jan

Further proof of the blind insanity of capitalism. They are basically shipping water across the ocean from one desert to another. "The company announced in January 2016 that it paid $31.8 million for 1,790 acres. Some of its fields run alongside the Colorado River. The company grows hay for cows in its dairy in Saudi Arabia, where the monarchy has set a policy of growing less alfalfa, wheat and corn to reduce pumping of groundwater from the depleted aquifers of the Arabian Peninsula."

Melting_Harps 4y ago
> Further proof of the blind insanity of capitalism. While I agree the pitfalls of unchecked Capitalism are rather dire, you have to realize this business model is only possible because of USDA subsidies; under no other circumstances could this be a profitable endeavor if ti were left to Market forces alone, were it not for the State offsetting the obscene expenses it simply wouldn't be possible. Furthermore, insuring these crops should be a matter for those respective nations and a premium should be placed on them as that is their final destination--especially since the House of Saud refuses to use it's own water but expects CA to use it's fertile soil and limited water supply to feed its dairy cattle.
Panzer04 4y ago
It’s only insane because we aren’t charging enough for the water. It’s not properly accounting for the real cost of the water usage.