The Great Nut Drain

“Some of the world’s largest investment banks, pension funds and insurers, including Manulife Financial Corp.’s John Hancock unit, TIAA and UBS, have been depleting California’s groundwater to grow high-value nuts, leaving less drinking water for the surrounding communities, according to a Bloomberg Green investigation. Wall Street has come to Woodville, wringing it dry.” Bloomberg (gift article) on the Groundwater
Gold Rush. “Banks, pension funds and insurers have been turning California’s scarce water into enormous profits, leaving people with less to drink.” (This is all about growing nuts. Maybe regulators should grow some.)

+ “Depending on the plan, either California would be the most affected, or Arizona and Nevada would be parched.” US considers imposing Colorado River water cuts to western states.