In Australia, one of the driest continents on the planet, water is ‘gold’. Having guaranteed access to groundwater is the key to transforming dryland land into a highly profitable asset. But when that same groundwater has multiple claims on it and is supporting unique and world-famous ecosystems, there needs to be strict accountability and transparency around decisions about who benefits and loses from groundwater extractions. The Government of the Northern Territory (NT) of Australia has granted ‘free’ water licences to a small number of large agribusinesses that allows them to extract millions of litres of groundwater every year and, thus, to grow cash crops on their properties. This ‘gifting’ occurs despite protests from First Peoples who have native title rights and interests over much of the pastoral estate in the NT and despite risks from groundwater over-extraction to sacred sites, including the world-famous Mataranka and Bitter Springs. For the Global Water Forum, Quentin Grafton, Ana Manero and John Williams calculate how much this water giveaway is worth to the lucky few.
Read the article «‘Money for Nothing’: Risks and Costs of the Great Australian Water Giveaway»
