Kitco News – As water supply concerns rise globally, the co-inventor of the world’s first Water Cost Index (WCI) said we may actually be in the middle of a ‘capital crisis’ in the water industry. ‘The cost of water exceeds the price,’ said Scott Rickards, president and CEO of Waterfunds, in an interview with Kitco News. Rickards said that he worked closely with tech giant IBM in order to create the index that would reflect the true cost of accessing clean water. ‘In any business, when the price isn’t right, your investment is losing money; and that’s a big problem in the water business,’ he said, adding that many utility companies do not even know they are unprofitable. ‘That’s how much of a dinosaur the water business has become.’
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