Resnicks....

[Darian]

The good, bad and ??? is the subject of an article in Mother Jones Journal:

http://www.motherjones.com/environme...lifornia-water

Interesting read. Something for everyone in it....

[STEELIES/26c3]

http://www.dailykos.com/story/2016/0...nt-you-to-read

[Bill Kiene semi-retired]

Time to have a water war.....?

Water = $$$$$$

Residential tax payers are being screwed.

They use 15% or maybe less of the water.

AG uses 80% so I think it would be easier to reduce the AG 5% than reduce the Residential 5%.

Our cities are dying.....lawns first and trees next.

[JayDubP]

I have seen estimates that Kern Water Bank makes over $150million a year reselling water- water that was intended for agriculture. And water that is reported as "Agricultural Use" when studies show who and where CA water is used.

Over the past 3 years, East Bay Municipal Water District has purchased almost 30% of its water from KRB at a huge premium. So not only does EBMUD have one of the highest water rates in CA, it also still charges its customers over $30million a month in "Drought Surcharge" . (EBMUD has as storage reservoir near where the canal leaves the Delta, so in practicality EBMUD buys water that never flows south, it flows from the Delta west to the East SF Bay Area, but the paperwork flows form the Kern Water Bank to EBMUD.)


POLITICS:
Other major owner of Kern Water Bank is Tejon Ranch, Inc. which makes almost nothing from agriculture or ranching. Tejon Ranch Inc is controlled by the Tisch family & their investment company, Towerview of New York.
A trust for the Pelosi family is a shareholder and Barbara Boxer's family had holdings (don't know if they still do).

Resnicks have been close friends with Sen. Feinstein and her husband, Dick Blum, for around 40 years. Blum is a "deal maker" who has his hands into a large number of ventures, most involving working with the CA or Federal government. Resnicks have been investors in Blum's various ventures for over 30 years.


BTW: Dick Blum's company is making close to $1 Billion as the sole sales rep for the sale of 56 US Post Office properties and another Blum investment company is major investor in the contractor who has over $1 Billion in CA State contracts to build Jerry's Brown's high speed rail.