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June 7th, 2008
Via The Telegraph, a report that a catastrophic water shortage could prove an even bigger threat to mankind this century than soaring food prices and the relentless exhaustion of energy reserves. As the article notes, according to a panel of global experts at the Goldman Sachs “Top Five Risks” conference:
“…Nicholas (Lord) Stern, author of the Government’s Stern Review on the economics of climate change, warned that underground aquifers could run dry at the same time as melting glaciers play havoc with fresh supplies of usable water.
“The glaciers on the Himalayas are retreating, and they are the sponge that holds the water back in the rainy season. We’re facing the risk of extreme run-off, with water running straight into the Bay of Bengal and taking a lot of topsoil with it,” he said.
“A few hundred square miles of the Himalayas are the source for all the major rivers of Asia – the Ganges, the Yellow River, the Yangtze – where 3bn people live. That’s almost half the world’s population,” he said.
Lord Stern, the World Bank’s former chief economist, said governments had been slow to accept the awful truth that usable water is running out. Fresh rainfall is not enough to refill the underground water tables.
 “Water is not a renewable resource. People have been mining it without restraint because it has not been priced properly,” he said.
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Farming makes up 70pc of global water demand. Fresh water for irrigation is never returned to underground basins. Most is lost through leaks and evaporation...“…Demand for water continues to escalate at unsustainable rates. At the risk of being alarmist, we see parallels with Malthusian economics. Globally, water consumption is doubling every 20 years. By 2025, it is estimated that about one third of the global population will not have access to adequate drinking water,” it said.
China faces an acute challenge. It makes up 21pc of humanity but controls just 7pc of the water supply. The water basin in parts of northern China is falling by one meter a year due to overpumping. In Heibei province the aquifer fell three meters last year. An increasing number of rivers are running dry.
Disputes over cross-border water basins have already prompted Egypt to threaten military action against any country that draws water off the Nile without agreement...”