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Viewsroom

Viewsroom: U.S. water crisis may evaporate wealth

Viewsroom

Reuters

News

4.458 Ratings

🗓️ 7 February 2019

⏱️ 20 minutes

🧾️ Download transcript

Summary

Overuse and climate change are sapping the Colorado river, source of a fifth of U.S. GDP and at least $1.3 trln of market value. The feds and basin states are struggling to adapt, but investors pay little heed. Plus, can India Prime Minister Modi’s budget help him win re-election? See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hi, just leave on work now. Sorry, it's a bit loud.

0:03.3

Um, basically, so I was thinking we could get Macies tonight. Had a big Mac on my mind all day, and delivery fee on the app is now from 99P. So you win? Of course you are. Love you. Bye! Exclusively on the McDonald's app. 18 plus, service fee and small order fee may apply. Participating restaurants. Serving times and teas and seas apply. The views expressed on this podcast are those of the participants.

0:24.4

Not. Service fee and small order fee may apply. Participating restaurants. Serving times and teas and seas apply. The views expressed on this podcast are those of the participants, not of Rogers News.

0:30.1

Investors are ignoring a $5.3 trillion risk in America's West.

0:34.9

And while India's Prime Minister Modi's recent budget handouts be enough for him to

0:39.4

win re-election? That's what we'll be discussing on this week's views room. From Reuters' breaking

0:44.3

views, I'm Jennifer Sabah, and I'm here with Anthony Curry. Hello, Anthony. Hi, Jen. Later in the

0:50.3

program, we'll be handing over to our colleagues in Asia who'll dig into the good,

0:54.2

the bad, and the ugly of Narandra Modi's five years as India's prime minister and discuss

1:00.0

whether he can win a second term in office in this April's election.

1:04.2

But we start by diving into what you, Antony, are arguing, is a huge risk that shareholders

1:09.2

are blind to, and you've put an incredibly big number on

1:12.3

it, $5.3 trillion. What is the calamity you have unearthed? It's all about lack of water.

1:19.6

Water. My favorite topic. All right, so it's water, the Colorado River. Yeah.

1:24.5

Why are you, first of all, why are you looking at this now? Like what? Well,? Well, the seven states in the river have been trying for a very long time, and you can actually go back to 2007 even before, to come up with a drought, what they're calling a drought contingency plan, which is basically that, you know, they are in a long-term aridification, as people are calling it. Now, you call it drought. It's been going on for 20 years.

2:05.2

And they're very, very close to each state coming up with a plan to tackle how to deal with the lower flows along the river. But they weren't that close. So last Friday, the US Bureau of Reclamation, a part of the Department of Interior said, right, you've not hit our deadline. We are now going to take over managing this process from you unless you can get it done really quickly.

2:13.6

Basically, we're now asking every single one of the seven governors to tell us what they think they should do to sort out what happens in this drought.

2:19.2

And then we'll work out how to allocate the water as best we can by, August. Okay, so this is seems like it must be a really big deal for the federal government, particularly this federal

2:24.7

government under President Donald Trump to step in for the states. So I'm still like, okay, the river

2:32.8

water flow is drying up, if you will. It's not as much water

2:37.4

going coursing through the Colorado River. That seems fine, but I'm trying to wrap my head

2:43.1

around the risk. Why? Because that seems like it's a big deal of the government. The feds are

...

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