| The Public Service Commission has
denied Attorney General Darrell McGraw's
motion to stop the sale
of West Virginia-American Water Co to a German conglomerate.
McGraw will likely appeal the decision, but international trade
experts believe it is highly unlikely such transactions can be prevented
under international trade laws signed by the US government.
The British company, Thames Water, which is
owned by giant German conglomerate
RWE, got permission from the PSC six
weeks ago to buy West Virginia-American
Water in a $46 billion sale of
American Water Works.
"Water is going to be one of the most important global
commodities in the 21st century," McGraw said.
"Because West Virginia is one of the major sources of water in the
Eastern United States and the United States is one of the major
sources of water in the world I think it's very important for us
to retain ... jurisdiction over our water."
"I don't think a business ... that tries to capture as a monopoly a
necessity of life for its own profit and to the exclusion of those
who cannot pay is probably not a business that contributes to the
local community," McGraw was quoted as saying.
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