Highlands has made offers to purchase all the CN rail lines from Orangeville through to Owen Sound, an economically depressed former Great Lakes port where they can ship the aggregate across the world follow that with a pipeline to export water.
This is not the first time Baupost has gone after the water according to Joyce Nelson’s article ‘Beware of Private Water Speculators’ published by the Canadian Centre for Policy Alternatives. In 2007 under the name Costal Management Resources, Baupost Group purchased 25,000 acres of ranch land in Southern California.In January 2007 The Santa Barbara Independentreported that Baupost “is seeking to purchase a massive amount of state water rights from the Carpentaria Valley Water District”.
According to Nelson, Baupost is using a “buy and hold” strategy where investors count on “eventually leasing the water back to those who can pay for it, or selling the water to government for local needs”.
By Zack Ruiter