I found the explanation of Water Registers (they’re like land titles, held in a single central location) straightforward enough. The process seemed like a major effort but as doable as any other part of this proposed undertaking. I notice that again, increasing commodification of water is asserted as a good outcome of creating water registers. (‘Banks will like this, now water rights could be mortgaged.’)
I am not sure I completely understand the priority tiers. They relate to the risk of not getting water. I may understand this better later, but for now, I am assuming that in a good tier, shareholders get allocations in dry years. In a medium tier, shareholders would get allocations in a normal year. In a bad tier, shareholders would only get water in very wet years. I’ll go with that until something I read later doesn’t make sense.
This reminds me of bond ratings and tranches, which reminds me of The Subprime Primer. The Subprime Primer is so great. My friend and I read it aloud as a play once. Then my friend moved to Finland.