Hedge Fund Wants to Pump Rural Aquifer for Phoenix
Tucson News Today | 2 Min Now | The Daily News Now! · The Daily News Now!
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Show Notes
Water Asset Management, a New York City hedge fund, aims to pump water from a stressed Arizona aquifer and sell it to Phoenix-area cities. The company bought farmland in the basin and a state bill, House Bill 2758, would allow this. Local residents and leaders oppose the bill, fearing water shortages and loss of homes. Supporters promise safeguards, but opponents argue they are not enforceable. The bill awaits a Senate committee hearing.
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