Oil is no longer the world’s most valuable commodity, water snatched the title. Numerous statements were recently published explaining that one bottle of water’s price will soon match that of one bottle of oil. These declarations are primarily correct when spotting the trends of both commodities. While the S&P World Commodity Oil Index edged up by 160% over 2003-2013, the World Water Total Return Index showed a 222% surge over the same period. Therefore, the water index is estimated to grow at a CAGR of 9.8%, while that of the oil will follow at a slower pace of 8.8%.
As every drop of water largely counts all over the globe, Lebanon is currently facing a critical standing in terms of water shortage. In 2014, a threatening water condition has been driven up by a changing climate with rising temperatures and unprecedented scarcity in rainfall. Lebanon had seen around 400 millimeters of rain in Beirut by mid-March this year, compared to 825 millimeters over the same period in 2013. In addition, the 30-years average normal total precipitation for Lebanon over the previously mentioned period hovered around 685 millimeters…
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2014-03-The Lebanese Water Sector – Substantial Challenges to Come