Monopliconomy thrives on water rights.

Water deals leave farmers in the dry Carmel Egan VICTORIAN water is being bought and hoarded by speculators... with no intervention from governments and water authorities. ...huge volumes of water are being traded and transferred away from districts that impose restrictions during droughts to areas where there are few, if any, controls. ... multimillion-dollar investment corporations to swoop on water as it is sold by desperate farmers. ... companies are estimated to have last year bought 85 per cent of water traded out of the state's largest authority, Goulburn-Murray Water. Timbercorp, a publicly listed company controlled by Melbourne racing industry identities, bought the lion's share and has been accused of manipulating the water market and distorting prices with its aggressive acquisitions. Established 10 years ago, Timbercorp is a multimillion-dollar Managed Investment Scheme (MIS) which entices investors by offering tax incentives against the management fees and establishment costs of large-scale agribusinesses such as hardwood plantations, almond and olive orchards. ...Since water trading began in Victoria in 1994, just under 150,000 megalitres in annual rights have been permanently sold. ...Water brokers estimate that up to 75 per cent of Goulburn-Murray water and up to 100 per cent of Lower Murray water sold this year has been bought by just three licensees — Timbercorp, SAI Teys McMahon and Macquarie Agribusiness. The companies are all MIS programs.