To the Editor:
Which is the real project?
The multi-national energy and water company GDF Suez, one of the largest investors in Powertech, is also one of the three largest water companies in the world. They own United Water in this country, comprising more than 200 municipal water companies in 29 states. They own companies specializing in water purification.
Given the cost of one dollar per eight-ounce bottle of water, the Madison aquifer permit of approximately 500 gallons per minute could generate revenue of $4,000 per minute of $240,000 per hour, or $5,760,000 per day or $2,102,000,000 - $2.1 billion per year. The Inyan Kara aquifer permit of more than 8,000 gallons per minute has the potential to generate 16 times the revenue.
The projected revenue for uranium sales would be 1,000,000 pounds per year, at $40 per pound for $40 million per year.
Transferring the water permits to GDF Suez only requires notifying the state engineer within 90 days – state statute 46-5-30.3. The industrial usage can be changed with a simple request to the water management board – state statute 46-5-31.
It appears that the water is worth many times the value of the uranium and the time frame would be decades rather than the expected 10-year life of the mining. No severance taxes would be paid on the water and no cleanup costs.
As a corporate executive, which project would you choose – water or uranium?