2 comments on “The California Water Bond, Private Profit and Public Benefit”

The California Water Bond, Private Profit and Public Benefit

Several commentators have recently criticized the proposed California water bond for allowing private companies to own, operate and profit from water infrastructure paid for with bond proceeds. These criticisms have appeared in the San Francisco Chronicle and California Progress Report, and have been repeated in a number of other publications. The $11.14 billion water bond was adopted by the California Legislature and signed by Governor Schwarzenegger in SB2 (7x), and will be submitted to the voters at the statewide general election on November 2, 2010. I think these private profit criticisms are generally unfounded, but there are legitimate questions about public benefits from the bonds.