On his blog Aguanomics Economist and Wantrup Fellow at UC Berkeley David Zetland, PhD has an interesting take on the Poseidon Resources desalination plant.
While he points out that there are many people who worry about Poseidon’s track record, or the fact that they’re asking for $550 million in tax-favored public bonds, or that the $700 million plant will cost tax payer more than the “promised price” what has Zetland most worried is the Carlsbad Municipal Water District.
Although these things concern me,** I worry more about Poseidon’s partner, Carlsbad MWD, which has the dubious honor of being the least-competent manager of wastewater in the State. . . .With partners like that, I wonder if Poseidon is really facing a worthy contractual partner that can push back when/if push comes to shove. (This is especially relevant given Poseidon’s friendly relations with local politicians.)
Zetland summarizes by saying: “If Poseidon screws up, will Carlsbad MWD be competent enough to catch them or make sure they pay?” And that is one of the best questions we heard so far.
[Link: Aguanomics]
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This is almost a bigger story than how messed up and incompetent Poseidon are looking. Carlsbad is number 1 among regional water districts in sewage spills? Really? I guess I will shut my mouth extra tight next time I’m out surfing. Great slogan…come to Carlsbad, we’re number 1 in sweage spills. Yuk!