I remember being in TX a few years back and reading in a local paper that he was buying near worthless ranch land to secure the rights on the groundwater below. He wanted to build an H2O pipeline to Dallas or something, setting himself up w/ powers of eminent domain and the right to float x-exempt bonds. Sounded like a perpetual motion machine of sorts, but I don't know if anything became of it.
Guy's certainly a believer in all manner of scarcity.
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