This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Aqua America Chairman: Private Investment Played Key Role In Success Of Clean Water Act

Aqua America, Inc. (NYSE: WTR) Chairman and CEO Nicholas DeBenedictis said today that “The national standards of enforcement and initial financial support provided to municipal wastewater facilities in the 1972 Clean Water Act ultimately led to major investments by private industry and the ultimate success of the regulatory process from which we all benefit today through cleaner national waterways.”

His remarks were made today at the National Association of Regulatory Utility Commission’s Winter Committee meeting in Washington, DC. “Before the Clean Water Act, only about a third of U.S. waterways supported fish habitat and could be used for human recreation, and we were losing up to 500,000 acres of wetlands – the oceans’ ‘natural filters’– annually,” said DeBenedictis. “Perhaps even more disturbing was the fact that 20 percent of drinking water samples exceeded the federal limits for certain contaminants.”

Citing an extraordinary example of water pollution prior to the Clean Water Act, DeBenedictis referenced a fire on Ohio’s Cuyahogo River that was started when a spark from a train ignited an oil slick on the river.

“Since the Clean Water Act was enacted 40 years ago, hundreds of billions of dollars have been invested in pollution control equipment and now you can swim and fish in most of the nation’s waterways; average wetland losses have fallen to fewer than 60,000 acres annually, and almost every U.S. citizen is provided drinking water that meets all health-based standards,” said DeBenedictis. “When you consider private industry has made much of the investment that has led to these improvements, it begs the question of whether tax-supported grant programs are still needed. The success of the Clean Water Act could be an example that we can afford the true cost of service for our goods and services and do not require taxes to support government entities to do for us what the private sector can economically accomplish.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs