While global markets are fixated on the Gulf, cast a weather eye on the Eastern Pacific where a Super El Nino climate event is developing. It could lead to Climate Whiplash events in terms of flood, storms and drought, food inflation and increasing migration tensions. It never rains, but it pours – and that’s not necessarily good for the most important commodity on the planet: Water!
The UK’s broken infrastructure will cost trillions to repair. Water needs £150-200 bln – roughly what Water Companies have paid (PV) in dividends since 1990. Thatcher sold water for £1 bln. Today we face a £200 bln repair bill. Discuss.
Up in London this morning I had a chat with a Fox. He smiled as we chatted about Davos on Drugs, but wasn’t interested in the appalling state of UK water infrastructure – but we should be! How has it happened – political failure writ large.
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