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in places where water is abundant it has no price and where it’s scarce, it’s very expensive

the U.S. hasn’t fully absorbed the importance of virtual water, but China and India, where drought and population pressures are more extreme, recognize the crucial relationship of water to GDP growth. As of last October, 80 Indian companies had spent $2.4 billion buying East African land in areas where water is abundant to grow and export water-hungry crops. China has also been actively buying land, and has reportedly considered buying rice (a pound contains 650 gallons of virtual water) from the U.S. Virtual water has created an unnoticed trade flow from water-rich countries to the water poor. In world terms, the U.S. is an enormous exporter of water

A state like Pennsylvania, with abundant water and lots of nearby natural gas will become reindustrialized as companies from around the world relocate. “The chemical industry is repatriating to the U.S. for the abundance of water and cheap energy. We’ve got enough water for 5 to 20 years.” Cheap labor in places like China is becoming a nonissue, Brennan says, while companies chase the chance to have access to resources again. What he describes—a new life for once-abandoned, resource-rich places like Bellingham, Washington—sounds like the Industrial Revolution all over again. In fact, a similar shift occurred after the 1973 energy crisis, when many manufacturers relocated from the Northeast to the South, where they could spend less on energy and (in some cases) labor.

Environmentalists’ efforts to limit the damage from extracting resources in the U.S. during the last 30 years have been enabled by globalization, which allowed U.S. consumers to buy cheaper resources abroad. But when the U.S. has some of the world’s cheapest water, how will we protect it as a natural resource?

For the “creative classes” on the coasts, the idea that parts of the U.S. economy are living on resources (rather than their wits), may seem a bit “third world,” or at least a step backwards from the service-and-brains paradigm the country has embraced over the last two decades. The paradox is that in order to get business to treat water well, we may need to put a price on water—an idea that runs counter to our American sentiment that water should be free.

We would be violating an international rule, which prohibits the transfer of the rivers' water out of their watershed. The Congo River has many tributaries in many African countries, such as Cameroon, Guinea, and the Central African Republic.

Egyptian businessman Ibrahim al-Fayoumi, considered one of the most prominent Egyptian investors in the Congo and whose company is currently executing a number of infrastructure and mining projects there, spoke to Al-Monitor concerning the government’s justifications for rejecting projects that link the Nile River with the Congo. “These justifications are nonsensical, for there is no legal impediment standing in the way of linking both rivers together,” said Fayoumi. “We have reviewed close to 300 river-related agreements, and none of them contained legal deterrents to the project. Taking advantage of the Congo River’s water would not violate international law since the water would be moved between two watersheds that lie within the borders of the same country, and would serve to exploit water that otherwise would be wastefully pushed 300 kilometers offshore,”

The ruling elites are all dependent on oil rents for the survival of their regimes. They need the oil business to stay alive for them to stay in power. Their system is based on continued oil rent, but ultimately, the citizens’ long-term interests are with a liveable climate

The precise point oil demand will peak has been contested, and depends on a myriad of assumptions about regulation, technology and consumer behaviour. But many people say demand will peak in about 2040, and then decline.

the International Energy Association’s report Net Zero by 2050, by contrast, proposed oil demand fall from 88m barrels a day (mb/d) in 2020, to 72 mb/d in 2030 and to 24 mb/d in 2050, a fall of almost 75% between 2020 and 2050. It argued that the Gulf has all three elements needed to switch to renewables: capital, sun and large tracts of vacant land.

Opec’s own projections suggest oil demand will rise in absolute terms through to 2045, and oil’s share of world wide energy demand will fall only from 30% to 28%. Hardly a green revolution.

In the United Arab Emirates it is estimated that the climate crisis costs £6bn a year in higher health costs. The salinity of the Gulf, caused by proliferating desalination plants, has increased by 20%, with all the likely impact on marine life and biodiversity.

Aramco, the Saudi company with the largest carbon footprint in the world, is not trying to diversify at the rate of Shell or BP. Indeed, it has just announced an investment to increase crude capacity from 12m barrels a day to 13m barrels by 2027

If you see the lifestyle in the UAE, Saudi Arabia and Qatar, it is based on endless consumption

The region is responsible for only 4.7 % of worldwide carbon emissions, dwarfed by the pollution from Europe, America and China. The oil that the Middle East exports is logged against the carbon emissions of the users, not the producers.

The Gulf’s self-proclaimed first mover, the UAE, was the first country in the region to ratify the Paris agreement and is now the least dependent on oil for government revenues. Last week it announced a “net zero initiative by 2050” to be begun with $163bn (£118bn) of investments and a new minister for climate change and the environment, Mariam Almheiri. The announcement came after the UAE ordered an 80-day brainstorming session in every government department from June. It was the first petro-state to embrace net zero in domestic consumption.

Gulf states are deeply competitive, so a flurry of news is emerging. Qatar has appointed a climate minister; Bahrain is targeting net zero by 2050; Kuwait has a new emissions plan.

Fossil fuels shipped abroad are not on the Saudi’s carbon ledger, owing to UN accounting rules, and the promised internal reduction in emissions is dependent on a heavy bet that unproven blue hydrogen and carbon capture technology will work.