Investment in water --even in Australia-- can prevent hunger

A world hungers for change of direction

Herald Sun, Melbourne
23/06/2008
Page: 79 Business News

Kevin Bailey
chairman of The Money Managers.
kbailey--AT--moneymanagers.com.au

THE world is facing an unprecedented global food crisis.
Australia is capable of far greater food production and yet arable land is being diverted to ethanol production and other non-food uses.
Approximately two billion people in 82 countries have inadequate sustenance as food prices soar.
Millions of people will starve if something is not done urgently.
It is time for the government to allocate part of our $21 billion budget surplus to help alleviate the worst of the crisis that is set to descend on the world in the next 12 months...


...Historically, Australia has been a world granary and we still have the potential to become one of the largest food producers in the world.
However, over the past several years, Australia's agricultural productivity has been cut.

There is a need to get our water usage right.
A move to avoid building dams over the past 10 years has seen our water storages fall to dangerously low levels.
Because we did not have the dams available in the Mitchell and Macalister catchments last year we witnessed billions of litres of desperately needed water flow out to sea in the Gippsland floods.
Again, major projects building dams could benefit investors in a range of construction companies.
There are consequences to every decision that is made.
We have to find innovative ways to increase our supply of food.
If we can do it in a way that benefits the investing public and creates jobs and rural prosperity
then we should move swiftly.