Monday, November 27, 2006

Your Pension Dollars At Work

As I said here the new P3 model in Canada is not private public partnerships but Public Pension Partnerships that bailout the Government. But it is still taxpayers money at work.

Water is the new oil: CIBC

In Canada, there are few ways for investors to directly invest in H2O. However, the Canada Pension Plan Investment Board recently launched a bid for a British water utility.

The colossal cost of fixing crumbling water infrastructure in the developed world has opened the door to government privatization.

Water delivery systems in the industrial world are in “dire need” of repair, says a report released Monday by CIBC World Markets Inc. At least one-fifth of America's municipal wastewater treatment facilities do not comply with federal regulations and in some U.S. cities, more than half of the water headed to consumers is lost along the way.

CIBC economist Benjamin Tal, author of the “Tapping into Water” report, estimates it will take “hundreds of billions of dollars” to fix dated water infrastructure in North America and Europe.

Federal governments are not rushing to fix the infrastructure and municipalities lack the means to do so. “As a result, governments are now much more open to the notion of privatizing their water infrastructure which, in turn, is providing a substantial boost to the private water industry,” Mr. Tal said.




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