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"The plan was brilliant, it was devious, and it would have been hugely profitable, and incidentally, tax free for many of the (political and business) insiders who held their interests offshore." They acquired an exclusive license to export "fresh water taken from....behind the dam at Ocean Falls on terms that were completely illegal - courtesy of insiders" in the BC government.
Next comes transporting it to America, using supertankers to deliver it 1,500 miles south to southern California and northern Mexico. However, they're limited, expensive, can only service coastal areas, and they can't deliver enough "to satisfy the long term solution to the water issues of the American southwest and Mexico," given the population size and substantial commercial needs.
Eliminating competition also involved "brib(ing) the governing political Social Credit Party (to get the BC government) under the leadership of Bill Vander Zalm (to create) a multitude of regulatory hurdles in the path of the competitors that slowed them down but did not completely kill them so, eventually the Government used brute force (in addition to violating) the Canada US Free Trade Agreement, the GATT and the Water Act (to impose) the illegal moratorium on bulk water exports that denied all competitors the ability" to get a license.
It failed because:
-- it was illegal;
-- WCW became greedy and tried "to gouge the first US customer, the Goleta Water District, by pricing its water at 50% more than the American competitor, Sun Belt Water Inc;" and
-- Canadian political and business insiders "announced that Sun Belt (wouldn't get) access" to Canada's water; only WCW could supply it.
Sun Belt collapsed. Goleta refused to do business with WCW, and after a few years it went bankrupt "although it had raised over $100 million to finance its business" and had powerful backers.
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