California water grab goes international: Saudi kingdom buys in

[SeanO]

Seems like our domestic water grabbers got low-holed by a Saudi Arabian group. Interesting times we are in with shipping hay all over the globe.

Saudi Arabia's largest dairy company will soon be unable to farm alfalfa in its own parched country to feed its 170,000 cows. So it's turning to an unlikely place to grow the water-chugging crop -- the drought-stricken American Southwest.

Almarai Co. bought land in January that roughly doubled its holdings in California's Palo Verde Valley, an area that enjoys first dibs on water from the Colorado River. The company also acquired a large tract near Vicksburg, Arizona, becoming a powerful economic force in a region that has fewer well-pumping restrictions than other parts of the state.

The purchases totaling about 14,000 acres enable the Saudis to take advantage of farm-friendly U.S. water laws. The acquisitions have also rekindled debate over whether a patchwork of regulations and court rulings in the West favors farmers too heavily, especially those who grow thirsty, low-profit crops such as alfalfa at a time when cities are urging people to take shorter showers, skip car washes and tear out grass lawns.

http://www.cbsnews.com/news/what-sau...ng-in-america/

[Darian]

Heard a report on NPR about an idea for expansion of foreign investment by the Saudi Monarchy. In view of the potential for reduced reliance on oil in the future by the rest of the world, a Deputy Prince would like to massively increase the funds currently available for foreign investment in order to offset the anticipated reduction in oil prices with investments in other parts of the world. it was also reported that the Saudi Government has experienced a deficit in revenues from oil due to reduced oil prices. So, they're looking for ways to eliminate that deficit. Guess we better get used to it, all of that and more makes it sound like the Saudi's will be buying new stuff all over the world.