Water will become more valuable than oil as rising demand from people, industries and agriculture puts pressure on supplies, according to the chief executive of Suez, the French utility.
Jean-Louis Chaussade, whose company agreed this month to buy General Electric’s water unit for $3.4bn, said water scarcity posed one of the biggest challenges facing industries such as chemicals, drugs, mining and energy.
Asked whether water would one day be a more valuable commodity than oil, Mr Chaussade told the Financial Times: “In future, probably yes.”
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