Pursue Profit Over Sustainability

In California's Central Valley, an ongoing shift from traditional crops to nut trees, particularly almonds and pistachios, is occurring due to their high profitability. This trend has attracted hedge funds and large banks that invest in farmland to benefit from deeply drilled wells tapping into aquifers, enhancing their returns in an environment where drought-resistant crops are less lucrative. The investment strategy reflects a preference for immediate profit over long-term sustainability, highlighting the economists' concept of the 'tragedy of the commons,' where individual profit motives lead to the depletion of shared resources.